Delphi Technologies has added eight additional first-to-market brake pads in its aftermarket braking programme. According to the company, together with the existing range, these latest applications means its brake pad line-up offers more than 98.5 per cent coverage for the European car parc.
Having received approval back in June, Qingdao Sentury Tire has successfully completed its Initial Public Offering (IPO) and is now listed on the Shenzhen Stock Exchange (China) as of 11 September 2020. 11 per cent of the company’s shares were valued at 1.31 billion yuan (162 million euros; £149.859 million) by investors, resulting in a theoretical total valuation of 1.47 billion euros. The offered shares offered were oversubscribed 2887 times over. But what is the company planning to do with its newly-raised funds?
Global sales of Global Light Commercial Vehicles (LCV) are projected to reach 9.49 million units in 2020, with pickups contributing to 4.62 million units. According to research by Frost & Sullivan, the global economic impact of COVID-19 caused the market to decline by 19 per cent in global LCV sales from 11.72 million units in 2019. The European market is said to be worst hit, with countries such as Italy and Spain facing an average decline in LCV sales of 35 per cent to 50 per cent in 2020.
AGCO has named Alliance Tire Group, Ltd North American Direct Materials Supplier of the Year during its 2020 online North America Supplier Event. Alliance was recognized by AGCO for “performance in cost, collaboration, innovation, account management, coordination and flexibility”. AGCO officials noted that Alliance – the only tyre supplier recognized during the event – exhibited strong coordination and alignment with AGCO and improved factory efficiency.
UK motorists are some of the fastest adopters of online car buying, something that is rapidly becoming the new normal in Britain, Germany and Spain, according to research conducted by online car retailer carwow. A survey of over 1000 consumers who bought a car through carwow since dealerships were allowed to reopen found 54 per cent of recent the company’s customers in the UK said they would continue to do the bulk of their car buying online from now on. In Spain it was 45 per cent and it was 38 per cent in Germany.
PJSC Tatneft and JSC Allur Group of Companies are establishing a joint tyre manufacturing facility in Kazakhstan. The factory will produce passenger car, light truck and truck tyres. The planned production capacity is 3 million passenger and light truck tyres as well as 0.5 million truck tyres per year. Production is expected to start in 2022. The project will create about 800 jobs, according to Tatneft.
The global light vehicle market continued its post-corona recovery in June, market analysts report. Global light vehicle sales fell by 19.1 per cent in June, year-on-year, to 6.2 million for a seasonally adjusted annualised running rate (SAAR) of 73.1 million in the month, according to GlobalData.
Calum MacRae, Automotive Analyst at GlobalData, comments: “While these results are some way behind industry norms, they do demonstrate that the global market has recovered from its April low when a SAAR of 48.2 million was registered.”
Trelleborg Group has reported “satisfactory” second quarter 2020 financial results “under the circumstances”, the company stated in its second quarter results. Specifically, Trelleborg Group organic sales declined 19 per cent, albeit with an improvement in the latter part of the quarter. As a result, net sales for the second quarter declined 18 per cent to 7,689 million Swedish krone. Pre-tax profits (EBIT) declined 29 per cent, corresponding to an operating margin of 12.3 per cent. At the same time, operating cash flow was strengthened “significantly”, according to the company.
A cross-party group of MPs with bus manufacturing sites within their constituencies have written to the Prime Minister to demand the £3 billion he committed in February to fund investment in “at least 4,000 new zero emissions buses” is brought forward as soon as possible.
Once the 50:50 merger Peugeot S.A. (Groupe PSA) and Fiat Chrysler Automobiles N.V. (FCA) is completed, the new group will be called Stellantis.
According to the companies, Stellantis is rooted in the Latin verb “stello” meaning “to brighten with stars”.
Delphi Technologies
Alexander Migl; Wikimedia CCAS 4.0
Tordiantor; Pixabay
AGCO
Carwow
Tatneft
Cooper; Brute
Künz
Cooper
Goodyear, Land Rover
Trelleborg
Wrightbus
Stellantis