Tyre industry pioneers, Michelin has a long history. Having begun in 1889, Michelin is now the second-largest tyre manufacturer in the world after Bridgestone and larger than both Goodyear and Contineantal.
Following the publication of Michelin’s first quarter 2022 financial results, group CEO Florent Menegaux commented on the appointment of Pierre Michelin as president of the Michelin family’s Mage-Invest holding company. Mage-Invest holds 4.2 per cent of the shares and 7 per cent of the voting rights of Michelin Group.
Shareholders at the Annual Meeting of Compagnie Générale des Établissements Michelin on 13 May voted in favour of splitting the par value of the Michelin share into four. Michelin explains that this decision is linked to the 66 per cent rise in the share price between 31 December 2018 (€86.70) and 31 December 2021 (€144.15).
Michelin Connected Fleet made its UK debut at the ITT Hub truck technology event in Farnborough on 11 May 2022. Michelin Connected Fleet is an evolution of Michelin’s 2019 acquisition of Masternaut and interfacing with other comparable systems in the Michelin portfolio. The technology, which is as much about service and support as it is technology, was launched in Spain and France in 2021. Next up are Germany and South Africa later in 2022, followed by markets such as Sweden and Benelux after that.
Michelin has produced a new version of its motorcycle racing tyre with an even higher share of environmentally sustainable material ahead of the MotoE World Cup motorcycle racing series. This is the fourth season of the MotoE World Cup electric motorcycles racing series.
A new generation of Michelin tyres for self-propelled sprayers enables load capacities to increase by up to 13.5 per cent at speeds as high as 30 km/h or 18.5 mph. The Michelin SprayBib CFO introduces the Cyclical Field Operation standard to the VF range, and UK customers will be able to obtain this successor to the SprayBib in 12 sizes by December 2022.
As reported yesterday, Maria Röttger will succeed Anish K. Taneja as president and chief executive officer of Michelin Europe North, effective 1 June 2022. Michelin shares that Taneja has decided to “move to a new role outside the company.”
Since March 2022, China’s government has imposed strict lockdown policies on several cities in response to the rapid spread of COVID-19. Shanghai, the economic centre of China, is one of the core lockdown areas. According to information available to Tyrepress, it appears the entire industry is feeling the restrictions hitting production, logistics and retail in Shanghai and surrounding cities.
The results of the 2022 China Brand Power Index (C-BPI) are out, and leading brand rating and consulting agency Chnbrand has once again ranked Michelin as the clear favourite in its automotive tyre brand ranking. Michelin has occupied the top spot every year since the inaugural rating was published in 2011.
The latest Michelin all-season tyre for SUVs has been launched in European markets. Arriving from 1 May, Michelin says the CrossClimate 2 SUV is targeted at “drivers seeking a safe ride first and foremost, regardless of the SUV category.” It adds that this “new generation of four-season tyres” combines “multiple performances” and allows drivers to “contend with the majority of weather conditions, no matter the season.” CrossClimate 2 SUV is available at launch in 40 dimensions for 17- to 20-inch rim diameters.
Anish K. Taneja and Michelin are parting ways. According to an internal memo that has been circulating since the end of last week, he will leave the French tyre maker at his own request on 1 June 2022. Michelin has also already appointed Taneja’s successor as president and chief executive officer of its Europe North region.
Michelin Group has reported that its first quarter 2022 sales amounted to 6.5 billion euros, a 19 per cent increase on the first quarter of 2021. According to the company, price increases and strengthening replacement demand helped it offset headwinds including operation disruptions and inflationary pressures exacerbated by the conflict in Ukraine plus the resurgence of Covid-19 in China.
Wrexham-based haulage firm BJ Clarke is reaping the benefits of Michelin’s accidental tyre damage guarantee following a recent incident which totally wiped out two of its trailer tyres. James Clarke, Director at BJ Clarke and son of owners Brian and Nancy, says: “One of our trucks rolled over a girder that was sticking out near the roadside, at no fault of the driver, completely taking out two of the trailer’s tyres on one side. Usually, we would have been looking at a replacement bill of roughly £900 but thanks to the tyre guarantee we got 75 per cent of that paid back to us, to help fund the new tyres.”
The California Energy Commission (CEC) has selected Symbio – the joint venture created by Michelin and Faurecia in 2019 with the aim of becoming a world leader in hydrogen mobility – to develop and demonstrate a hydrogen-fuelled, regional-haul Class 8 truck for a state-supported hydrogen mobility project. Symbio will collaborate on this project with Michelin, Faurecia and other industry partners, including energy transitions research and training organisation GTI.
Michelin hasn’t only halted its tyre production in and exports to Russia in response to the current situation in Ukraine. It has announced that the Michelin Guide team has suspended all restaurant recommendation activities in the country.
At a ceremony held in Phoenix, Arizona this month, General Motors (GM) honoured 134 suppliers based in 16 countries. The vehicle manufacturer’s 2021 Supplier of the Year awardees included five tyre makers – Bridgestone Corporation, The Goodyear Tire & Rubber Company, Hankook Tire & Technology, Maxxis Tires and Michelin North America.
Michelin
Michelin
Michelin; Jefferies
Michelin