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Goodyear to cut 5% of salaried staff globally, $80 million 4Q loss expected in EMEA

Company News, International News
Goodyear

Goodyear Tire & Rubber Company is planning “rationalization and workforce reorganization” actions that would result in a 5 per cent reduction in salaried staff globally, or about 500 positions. According to executives, the move has been prompted by the “challenging industry environment and cost pressure driven by inflation.” However it is also attributed to weaker-than-expected fourth-quarter results:

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Related news:

  1. Integration on-track: Goodyear reports 16% growth plus greater synergies from Cooper Tire acquisition
  2. Price mix contributed more to Goodyear EMEA 3Q figures than Cooper Tire sales
  3. Cooper Tire joins the Goodyear team
  4. Goodyear reports 42% net sales increase in 2021, EMEA back in black
27th January 2023/0 Comments/by Chris

Is Nokian Tyres a takeover target?

Company News, International News
Nokian Tyres

How the Russia-Ukraine war, the company’s low share price and other challenges make Nokian Tyres prime takeover material for a premium brand with the money and desire

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Related news:

  1. Nokian Tyres: “substantial uncertainties” relating to timing of Tatneft deal closure
  2. Nokian Tyres investing 650 million euros in greenfield factory in Romania
  3. Solidium: Nokian Tyres Romania plans offer ‘good prospects for building the business on a new basis’
  4. Sentury internationalising with US tyre factory investment
24th January 2023/0 Comments/by Chris

Extending first MOT deadline ‘will increase defective vehicles, tyres’ – TyreSafe

Legislation, UK News

Road safety charity TyreSafe has joined a growing chorus of automotive industry opposition to the latest proposal to extend the intervals of the MOT test. The organisation, which has members from all spheres of the UK tyre business sector as well as councils and emergency services, said that plans to require a first MOT after four rather than three years would increase the number of defective tyres and vehicles on the country’s roads. It explained that while new vehicles are often safer than ever, the advanced safety systems they incorporate often rely on the roadworthiness of tyres. Research by TyreSafe and its members suggests that putting more responsibility for ensuring tyres’ roadworthiness on UK motorists could lead to illegal and unsafe tyres remaining fitted to vehicles for longer, as many motorists do not check their tyres frequently enough.

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Related news:

  1. Government consulting on ending MOT extension, NTDA calls for immediate car test restart
  2. Road deaths up 4% in 2014
  3. TyreSafe: Legal tread depth still require, despite MoT exemption
  4. ‘Time to end MOT extension’ – IGA
23rd January 2023/0 Comments/by Andrew

Beissbarth becomes part of the Stertil Group

Company News, International News

Beissbarth Automotive Testing Solutions GmbH is taking over Beissbarth GmbH as a subsidiary of Stertil B.V., effective 1 January 2023. Most self-administration proceedings Beissbarth GmbH applied for in July 2022 are therefore complete. The parties have agreed not to disclose the purchase price.

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Related news:

  1. Is Unipart Automotive being lined up for sale to Euro Car Parts?
  2. Pirelli truck tyres separating and merging with Aeolus/ChemChina
  3. Tirebuyer.com and Tirescanner.com merge
  4. Goodyear completes Cooper Tire acquisition
20th January 2023/0 Comments/by Chris

Final quarter doldrums for ETRMA member replacement tyre sales

Company News, Product News, UK News

A positive first half of 2022 gave way to an increasingly bleak picture for replacement tyre sales according to overall figures published today by European Tyre and Rubber Manufacturers’ Association (ETRMA) members. Overall this meant replacement consumer tyre sales were 2 per cent down on 2021. Commercial replacement tyre sales remained largely flat, except for the agricultural tyre market, which was down more than a fifth (-22 per cent), having been in contraction all year. Quarter four saw double-digit percentage falls versus the fourth quarter of 2021 as the effects of war in Ukraine, including spiralling energy prices and a continental cost of living crisis, bit. The European replacement tyre segment’s first half of the year had been relatively buoyant, with double-digit growth in replacement truck and bus tyres the highlight.

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Related news:

  1. ETRMA data confirms steep drop in replacement tyre sales
  2. ETRMA reports weaker tyre sales in 2019
  3. ‘Drastic decline’ – ETRMA releases members’ Q1 2020 sales figures
  4. ETRMA: Tyre sales down slightly
19th January 2023/0 Comments/by Andrew

YOHT – fire report incorrect

Company News, International News

Yokohama Off-Highway Tires notes that an erroneous report of a fire at its plant in Hadera, Israel has “caused confusion in the tyre industry.” Company officials confirmed today that there was no fire at the facility.

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Related news:

  1. Yokohama consolidates OTR tyre businesses into Yokohama Off-Highway Tires
  2. Yokohama’s Prometeon bid: Delayed by Covid, but nearing completion
  3. YOHT opens 3rd plant in India
  4. Trelleborg fined for Yokohama-TWS takeover disclosure violation
19th January 2023/0 Comments/by Stephen

Government consulting on MOT changes, again

UK News

The Department for Transport (DfT) has launched a public consultation on the future of MOTs in Great Britain, which closes at 11:59pm on 28 February 2023. According to the DfT, “Views are being sought to update MOT testing for cars, motorbikes and vans to ensure roadworthiness checks continue to balance costs on motorists while ensuring road safety, keeping up with advances in vehicle technology, and tackling vehicle emissions.” But the short story is that they are once again proposing to “change the date at which the first MOT for new light vehicles is required from 3 to 4 years” under the guise of saving “motorists across Great Britain around £100 million a year in MOT fees” based on a £40 MOT.

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Related news:

  1. MOT exemption starts on 30 March 2020
  2. NTDA concerned about long-term impact of MOT exemption
  3. Government consulting on ending MOT extension, NTDA calls for immediate car test restart
  4. MOTs worth £177 million a year in UK tyre sales
18th January 2023/0 Comments/by Chris

ATU: Mobivia acquires Michelin’s minority shareholding

Company News, International News

Five years ago, Michelin purchased a 20 per cent stake in German automotive parts and servicing network ATU for 60 million euros. The French tyre maker has now confirmed that majority shareholder, France’s Mobivia Group, will acquire the minority stake from Michelin “in the next few days” and thus become the retail chain’s sole owner

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Related news:

  1. Big names committed to The Tire Cologne
  2. Michelin to buy Germany’s largest tyre wholesaler
  3. Mobivia Groupe to acquire ATU
  4. Will rent price discord torpedo A.T.U. acquisition?
18th January 2023/0 Comments/by Stephen

Ceat plant named a WEF Lighthouse

Company News

Ceat has become the first tyre brand to gain World Economic Forum (WEF) ‘Lighthouse’ certification. Managing Director Anant Goenka accepted the honour at a ceremony in Davos on Monday. The tyre maker’s Halol plant in India is one of just 132 facilities in the WEF Lighthouse Network.

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Related news:

  1. Off-highway capacity to double: Ceat curtails TBR expansion
  2. Export markets a focus for Ceat agricultural tyre plant project
  3. Goenka reappointed as Ceat Ltd MD
  4. Ceat Ltd: Profit drops 99%
18th January 2023/0 Comments/by Stephen

Hankook exclusive tyre partner to Lamborghini Super Trofeo

Motorsport

If asked which tyres are worn by cars competing in Lamborghini Super Trofeo races, you may be tempted to name an Italian brand starting with ‘P’ – but you’d be wrong. As of the 2023 season, Hankook Tire is now official technical partner and exclusive tyre supplier to all three series of the one-make cup. It has also developed a new, high-performance race tyre for this engagement, the Hankook Ventus Race, a product specifically tailored to the Lamborghini Huracán Super Trofeo Evo2 racing car.

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Related news:

  1. Prepared & ready: Hankook awaits Formula E race debut
  2. Hankook supplying reborn DTR race series
  3. Michelin named exclusive DTM tyre partner
  4. Second W Series win for Jamie Chadwick
17th January 2023/0 Comments/by Stephen

Lighter & cheaper – Smart Tire Company announces latest airless tyre

Company News, International News

A name still unfamiliar to many, The Smart Tire Company (STC) is commercialising NASA’s non-pneumatic tyre technology. It is working with vehicle manufacturers to produce shape memory alloy tyres for cars and has launched a second generation of its airless bicycle tyre. In addition to developing products for use here on Earth, STC intends to send tyres to the Moon as part of NASA’s Project Artemis.

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Related news:

  1. Michelin preparing to drive on the Moon
  2. Global Air Cylinder Wheels introduces OTR tyre replacement
  3. Maintenance-free tyres by end of decade: Goodyear tests airless tyres on self-driving shuttle
  4. Goodyear testing airless tyres with Starship delivery fleet
17th January 2023/0 Comments/by Stephen

Prometeon names Yilmaz as MD for UK, Eire and Nordics

Career Tracks, UK News
Prometeon Tyre Group has appointed Ali Yilmaz as the new managing director for the UK, Ireland and Nordics, effective from 1 January 2023 (Photo: Prometeon)

Prometeon Tyre Group has appointed Ali Yilmaz as the new managing director for the UK, Ireland and Nordics, effective from 1 January 2023. The move sees Yilmaz promoted from commercial director to the leadership role of the cluster, replacing interim MD Francesco Antonacci.

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Related news:

  1. Arthur Gregg new Bandvulc MD
  2. Simon Michael appointed Prometeon MD
  3. Prometeon UK appoints North East BDM
  4. Prometeon appoints Ali Yilmaz as UK, Eire and Nordic marketing manager
16th January 2023/0 Comments/by Chris

Goodyear provides tyre expertise to rFactor 2

Company News, Motorsport

Players of the rFactor 2 motorsport simulation will benefit from a partnership between Studio 397 and Goodyear. The tyre maker is helping the Studio 397 physics team understand the very deep and complex construction and reactions of racing tyres. The Netherlands-based video game developer says it has benefitted from “an exceptional collaboration and sharing of data and insight of late.”

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Related news:

  1. König Wheels Boasts Video Game ‘Fitments’
  2. Goodyear launches Eagle F1 Series of UHP and Supercar tyres
  3. Goodyear’s European motorsport renaissance continues despite pandemic challenges
  4. Goodyear begins ‘new era’ as FIA World Endurance Championship partner
13th January 2023/by Stephen

Recruitment roadblock reduces Halfords profitability, but tyres continue to drive growth

Career Tracks, Company News, UK News
Halfords

Halfords Group plc (Halfords)’s third-quarter 2023 trading update for the 13 weeks to 30 December 2022 show that group revenue grew 38.3 per cent and like-for-like group sales were up 12.6 per cent compared with 2020 levels. Other headlines included the news that Halfords’s services business represents 50.3 per cent of group revenue, and B2B, which includes the Avayler system 28.2 per cent. At the same time, Halfords hailed its “strong Commercial Fleet performance”, with this part of the business growing 138 per cent year-on-year. However, the company reduced its full-year 2023 underlying profit before tax (PBT) guidance from £60 million to £50 million.

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Related news:

  1. Halfords ‘motoring revenue’ will be 70% post National Tyres acquisition
  2. Autocentres continue to drive Halfords sales post National Tyres purchase
  3. Halfords investing £3.5 million in creating 1000 automotive technician roles
  4. Halfords investing up to £81 million in Axle Group acquisition
12th January 2023/by Chris

EC provisionally reduces Chinese truck tyre tariffs to €38.87 for most manufacturers

Company News, International News
S. Hermann & F. Richter; Pixabay

The European Commission has provisionally recalculated anti-Chinese-produced truck tyre import tariffs to between €21.12 and €61.76 per tyre, equating to a reduction of between 0 and 51 per cent, depending on the manufacturer. Consultation on the provisional recalculation is now open until 23 January, before the final determination will be made on 25 January 2023.

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Related news:

  1. Chinese tyre makers off-shoring in Southeast Asia
  2. EU publishes definitive anti-subsidy and updated anti-dumping rates
  3. Chinese tyremakers encouraging European customers to claim back truck tyre tariff payments
  4. European Commission reopens Chinese truck tyre investigation
12th January 2023/by Chris
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