Tag: China
New high for Linglong’s brand awareness
Linglong Tire shares that its brand value has reached a new high of RMB 45.369 billion (£5.2 billion). This news follows the release of World Brand Lab’s list of China’s 500 Most Valuable Brands 2019 at the World Brand Summit. At the summit, which took place in Beijing on 26 June, Linglong was honoured as the 116th most valuable brand in China.
Reports: Brembo aiming for largescale acquisition
Brembo is lining up a “significant size” acquisition, even as large as the brake maker itself. Local newspaper Il Sole 24 Ore quoted Brembo executive vice-president matteo tiraboschi as saying that the company is looking for potential targets outside Italy, especially in Europe and the US and even China: "It must a healthy company of a certain size - with good numbers, technology and R&D - that fits our business”.
Digital transformation in the tyre sector
At the start of May, Zivojin Sekulic of GAJ d.o.o. gave a presentation on the digital transformation of the tyre industry at Guangrao Tyre Conference and Expo 2019. Shortly afterwards, he shared details of the presentation with Tyres & Accessories, which shows how digital data is affecting all parts of the distribution chain.
Xingyuan introduces Anchee brand
The export office of Qingdao-based Xingyuan Tires Group, which is around the 30th largest tyre manufacturer in the world and has been a top 10 Chinese tyre manufacturer since 1994, has announced the introduction of the new Anchee passenger car tyre brand.
Vipal: Optimism returning to Europe’s retreading sector
It’s almost eight months since the European Commission made its final decision regarding anti-dumping duties on new and retreaded truck and bus tyres manufactured in China, and Vipal Rubber is celebrating what it considers an “upturn in the tyre retreading market in Europe.”
Groundbreaking held for Maxion-Dongfeng aluminium wheel plant
Maxion Wheels and new joint venture partner, Dongfeng Motor Parts and Components Group, have held a groundbreaking ceremony at the future site of their 22,000 square metre aluminium wheel plant in Suizhou, China. The ceremony took place on 6 June and was attended by government officials and company dignitaries, customers, suppliers and associates.
Have the truck tyre import tariffs ‘worked’?
The size of the UK truck tyre market by sell-out unit volume fell 9.8 per cent in 2018 set against the backdrop of European import tariffs, according to GfK data presented at Autopromotec 2019. But what do the tell us about the effectiveness of the tariffs?
US tariffs hit Chinese alloy wheel exports
Following the US’s implementation of 25 per cent import tariffs on Chinese aluminium wheels on 1 May, China exported 70,400 metric tonnes of aluminium alloy wheels in April, down 9.6 per cent compared with the previous month and down 11.6 per cent compared with the year before. However, while down Chinese wheel exports in April were above their recent low point. In February exports dipped to the lowest in five years at 53,700 tonnes.
CITExpo 2019 awaits. Are you ready?
Despite trade disputes and tariffs, China remains interesting for tyre distributors and buyers around the world. Furthermore, China’s tyre market itself stands to benefit from future growth in the country’s automotive aftermarket. Although the 28 million new cars sold in China last year represented a three per cent decrease on 2017 sales figures, the number of vehicles requiring replacement tyres will continue on an upward trajectory over the coming years. Against this backdrop, the China International Tire Expo (CITExpo) positions itself as an ideal trade fair for international and domestic visitors alike.
USA sets final duties on CV steel wheels from China
The USA has determined the rate of anti-dumping and countervailing duties it will charge on steel commercial vehicle wheels imported from China, and the levels set are high. This month, the US Department of Commerce announced final anti-dumping duties of 231.7 per cent and countervailing duties of 457.1 per cent.
Doublestar acquires Hengyu Technology
Qingdao Doublestar Tire, owner of Kumho Tire since July 2018, has once again grown through an acquisition. The Chinese tyre maker says it has completed the purchase of Shandong Hengyu Technology Co., Ltd. for RMB 899 million (£103.1 million). Doublestar disclosed in March that it had signed an agreement with Hengyu Technology’s administrator to acquire 100 per cent equity in the business.
Guangxi Linglong Tire starts earthmover tyre production
The first radial earthmover tyre made by Guangxi Linglong Tire rolled off the production line earlier today. For the wholly-owned subsidiary of Shandong Linglong Tire, the start of production represents an important milestone in Linglong’s RMB 4 billion (£454 million) investment programme. Through this investment, Linglong aims to manufacture 20 million high-performance car tyres, 2 million all-steel truck radials and 60,000 specialty tyres per annum.
USA increasing tariffs on US$200 billion of Chinese imports…including tyres
In the USA, the recent United States Trade Representative (USTR) Section 301 investigation exploring potential tariffs on a range of Chinese imports has reported back. After tariffs of 10 per cent were put into place in September, the planned increase to 25 per cent in January was delayed while trade talks continued.
Chinese truck tyres: EC says anti-dumping duties effective
The European Commission reports that applying anti-dumping duties to truck and bus tyres manufactured in China is having the desired effect. According to EC figures, dumped or subsidised imports were 81 per cent lower six months after the measures were imposed than during the investigation period.
Do tariffs and trade wars work?
At the time of going to press, the President of the United States of America is mid-way through a state visit to the UK. Before he even landed on British soil, President Donald Trump stirred up controversy by tweeting his disparaging thoughts about London Mayor Sadiq Kahn. Whatever view one might hold about the propriety of Trump’s visit, we all know that 31-gun salutes and tea with the queen are about more than niceties. Sure enough less than 24 hours into the state visit, presidential talk turned to trade, with Trump backing out-going Prime Minister Theresa May to complete Brexit negotiations and promising a “phenomenal” trade deal between the US and UK. But all this is set against the backdrop of all-out trade war between the US and China at the same time that Europe is involved in somewhat more Cold War-esque trade skirmishes with China as well. The questions are: do such measures work? And what do they mean for the tyre business?
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