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EU-27 plus UK tyre imports rise 11% as winners and losers emerge from turbulent market

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Astutus Research

Since March, cumulative passenger car and light truck tyre imports to the European Union and UK have, for the first time, recovered to run above pre-pandemic levels. This is despite the well-documented impact of sharply higher ocean freight costs in this period, and disruption to production in some source countries. A newly published report by Astutus Research, “European PCLT Tire Demand and Supply Forecasts to 2026”, shows that in the first seven months of 2022, European (the EU-27 plus UK)* imports from outside the region were 11% higher than the same period last year and 5% higher than the equivalent pre-Covid period in 2019.

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USTMA forecasts record year for US tyre shipments

The U.S. Tire Manufacturers Association (USTMA) projects total tyre shipments in the USA will reach 342.1 million units this year, respectively exceeding the figure for 2021 and pre-covid 2019 by 2.1 per cent and 2.8 per cent.

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Tyre manufacturers to lose $2bn in OE revenues due to semi-conductor shortage

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Pok Rie

Astutus Research says that the shortage of semi-conductors and other vital components will lead to $2 billion (around £1.5 billion) in lost original equipment tyre revenues in 2021. The analyst notes that demand for new cars is not a factor in the slump in OE stream sales versus expectations, and that a rebound is expected in the coming years when component supply has returned. Astutus Research is currently offering a new report series via Tyrepress, presenting tyre industry forecasts in the wake of Covid-19, which takes into account such dynamics. The series, entitled ‘Beyond Covid-19’ offers market leading data on global original equipment and replacement passenger car and light truck tyre segments. It also offers region-specific PCLT tyre data for Europe, the Americas, and Asia Pacific. A full summary of the 11 available PDF reports with accompanying Excel data-books is available here.

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European auto markets ‘exceed expectations’ in May – GlobalData

For the three national markets of France, Italy and Spain, combined new light vehicle sales fell by 55 per cent on last year to 268,000 in May, which compares with a 75 per cent drop in March and a 93 per cent decline in April. This represents a slightly better scenario than had been anticipated, as Calum MacRae, automotive analyst at GlobalData, explains: “After the seized up and locked down markets of March and April, this is a welcome sign of life in markets that were the first in Europe to be engulfed by the COVID-19 outbreak.

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So long, farewell, auf wiedersehen, goodbye EU

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Good bye handshake Brexit

As the February 2020 issue of Tyres & Accessories goes to press, the United Kingdom is officially leaving the European Union after three years of intense dispute and debate. At the same time, 2019 wasn’t a great year for the automotive and tyre industries (see page 36 onwards for further details of what has transpired during the last 12 months). And with a no-deal scenario presenting the possibility of import tariffs on and parts, 2020 doesn’t look like it is going to be a whole bunch better. However, while the disappointing performance of the car and tyre markets is linked to Brexit, the issues are not one and the same.

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Titan International reaffirms 2018 business outlook 

In addition to appointing Paul Reitz its eighth member, the Board of Directors at Titan International has also approved the company’s 2018 strategic and operational plan. Reitz commented that after “working hard to manage our way through three years of a cyclical downturn and then post three consecutive quarters of revenue growth this year,” it was “great to be able to present to our board a 2018 plan that continues to reflect growth across all of our business units.”

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KPMG forecasts vehicle production growth

John Leech, head of automotive at KPMG, has commented on the latest automotive manufacturing figures published by the SMMT, suggesting that UK manufacturing will approach 10 per cent growth this year.

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Nokian Tyres revises forecast – sales, operating profit to decline

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Due to a weaker economic forecast for Russia and the CIS, Nokian Tyres has downgraded its guidance for 2014 and now says net sales and operating profit will decline this year compared with 2013. This latest forecast replaces that published on 7 February, in which Nokian Tyres said it was positioned to show growth in net sales and operating profit this year.

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Oulton Park may provide first 2013 BSB outing for Pirelli rain tyre

The MCE Insurance British Superbike Championship is set for the first ‘triple-header’ of the season this weekend as the paddock returns to Oulton Park in Cheshire for the second time this season, and with showers forecast the Pirelli Diablo Rain tyre may get its first 2013 in-race use. The weekend also sees races from the both the Pirelli National Superstock 1000 and 600 Championships and the Ducati TriOptions 848 Challenge taking place, with every competitor using the Diablo Supercorsa SC V2 control tyre.

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Pirelli anticipating low tyre wear for BSB at Oulton Park

Tyre supplier to the MCE British Superbike Championship, Pirelli has forecast an easy weekend on its tyres as the championship visits the picturesque Oulton Park circuit. Back to back weekends at Brands Hatch and Thruxton have seen Pirelli’s slick and Diablo Rain tyres used with the changing weather. Pirelli has introduced the all new World Superbike derived Diablo Superbike SC1 compound this season, and the tyre has been the chosen option for the victor in all four races so far. Superbike riders are expected to use this option in dry conditions at Oulton Park, a challenging circuit with a good mix of elevation changes through fast sweeping corners.

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Gloomy October for CV registrations

The SMMT figures for commercial vehicle registrations in October paint a gloomy picture, with year-on-year CV sales down 8.1 per cent to 21,661 units; the rolling year figure is also down 0.9% to 293,312.

Truck registrations dipped to 3,867 units, down 8.1 per cent in the month, but the rolling year figure is up 16.3 per cent to 47,352.

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Pirelli expects heat and speed at Snetterton BSB round

Pirelli has predicted fast, exciting racing and hot weather at Snetterton’s MCE British Superbike event this weekend. The new ‘300’ track layout was well received by riders and fans last in its first year in 2011. The Pirelli team returns from the North West 200 having secured four race wins, to focus on Snetterton BSB before the start of the Isle of Man TT practice week on Monday.

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Softer BSB compounds to have their day at Oulton Park, predicts Pirelli

After the fast, abrasive Thruxton surface, the British Superbike series moves to Oulton Park where the more flowing nature of the circuit and make-up of the asphalt means softer Pirelli Diablo Superbike tyres may well be effective.

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Toyo net income down

The first nine months of Japan’s 2011 financial year have been described by Toyo Tire & Rubber as being a “severe” business environment. During the nine month period between 1 April and 31 December 2011, the company experienced a 19.4 per cent year-on-year decrease in net income despite rising sales. Net sales increased 6.7 per cent during the timeframe in question, to 241.7 billion yen (£2.0 billion), while operating income and ordinary income rose 10.4 per cent and 11.9 per cent respectively, to 11.59 billion yen (£95.8 million) and 8.99 billion yen (£74.3 million). Despite stronger sales, net income sank by 985 million yen to 4.11 billion yen (£33.9 million) during the first three quarters.

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