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Halfords Autocentres reports 89.6% increase in pre-tax profit – next stop ‘market leadership’

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Halfords

The Halfords Group reported a strong set of full-year 2021 that saw the company generate total sales of 1,292.5 million in 2021, up 13.1 per cent compared with the 2020 financial year (2020: 1,155.1 million). The financial report, which was published on 17 June 2021, shows that by all measures pre-tax profits skyrocketed. Indeed, Halfords Group reported profit before tax after the impact of IFRS 16 of £64.5 million, which amounts to a headline-grabbing increase of 184.1 per cent compared with the previous year.

Halfords Autocentres accounted for an increasing proportion of the group’s overall sales figures, reporting 2021 sales of £252.5 million, up 31.6 per cent compared with 2020’s £194.1 million.

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  1. McConechy’s Tyre Service Ltd sold to Halfords for £8.5 million
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Michelin top, Conti moves up to 3rd – all change at the top of the 2021 Leading Tyre Companies table

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Andrea Piacquadio; Pexels

While the world is still adjusting to the repercussions of the Covid-19 pandemic, there has been no small measure of disruption in the standings of the world’s leading tyre manufacturers, according to our latest top 25 table. Six of the top 10 have changed places this time round, with the headline news being that Michelin has regained pole position after several years of having Bridgestone in first place. At the same time, Continental has stepped up into third position, leapfrogging the previous incumbent Goodyear.

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  1. Top tyre manufacturers deny involvement in tyre test manipulation
  2. Giti enters the top 10 of leading tyre manufacturers
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  4. Decennial shift in global PCLT tyre volume market share
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Autocentres growing in prominence – UK’s top tyre retailers 2021 (11-20)

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Eden Tyres

As can be seen in the top 10 table published yesterday, Halfords Autocentres remains in second place nationally in our 2021 ranking of the UK’s largest retail operations by branch count. Continuing our three-article series on this subject, today’s instalment focuses on places 11 to 20 and finds that the medium to large sized positions are increasingly being taken by autocentre style businesses that make as much money from parts and repairs as they do from tyres (and more than traditional fast fits).

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  1. Micheldever/Protyre moves up to fourth, Lodge Tyres jumps in retail rankings
  2. Growth and stability amongst leading UK tyre retailers
  3. Tyre retail market in a redistribution phase
  4. Buckinghamshire Merityre the latest to receive Pirelli Performance Centre upgrade
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Test World becomes first centre in Europe to offer ASTM 1805 winter tyre testing

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Test World

This year the well-known Finland-based tyre testing centre Test World turns 30. What better way to celebrate than to redouble its efforts to become a comprehensive test centre for summer, winter and all-season tyres? Following the acquisition of Test World’s parent company Millbrook by UTAC CERAM, which was completed at the start of February 2021, key developments towards this goal include: the purchase of the world’s first all-electric winter tyre traction testing light truck and the addition of a new soon-to-be opened proving ground in Morocco. Tyres & Accessories me up Jukka Antila, Technical Director at Test World as well as Millbrook business development manager Andrew Kern in order to find out more.

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  1. Millbrook buys Test World
  2. Hankook building winter tyre proving ground in Finland
  3. Technotrac: Hankook Tire opens own winter test facility in Finland
  4. UTAC CERAM completes Millbrook acquisition, new governance introduced
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Tyre sales down, but not as much as feared – GfK

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5 November saw the inaugural virtual Tyre Industry Conference, with Tyres & Accessories bringing the traditional annual conference into the virtual arena due to Covid-19 restrictions. Produced in association with the NTDA and supported by Cam Systems, our expert panel was comprised of James Ward, senior insight manager, GfK; Andrea Manenti, VP north region, Bridgestone; and Pravesh Amtha, sales general manager Consumer UK&I, Goodyear. The wide-ranging 45-minute conversation covered a lot of bases, but the first session, which was designed to focus on the new tyre market’s recent trends and statistics began with a presentation from James Ward.

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  1. Four out of five consumers changing tyre shopping behaviour
  2. 2018 UK truck tyre market data overview
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  4. Goodyear’s European motorsport renaissance continues despite pandemic challenges
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Online tyre prices went up as lockdown bit

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Peter Linforth; Pixabay

In October’s magazine, Tyres & Accessories takes a closer look at the latest developments in the multifaceted online tyre business. This article specifically looks at online tyre buying and pricing in conjunction with tyre pricing and selling-way data specialists Encircle Marketing. However, this is just one dimension in the online tyre business. In addition to online tyre retail, there is also the question of online marketing, an area in which social networks are playing an increasing important role (see separate article for further details). And on top of this, there is the electronic infrastructure necessary for the tyre business to participate – beginning with increasingly smart web sites and going onto integrated pricing and marketing tools.

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  1. Tirescanner sales up 150% year-to-date
  2. Wide variation in prices achieved by different brands and platforms online
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  4. Michelin tops 2020 UK social media ranking, Davanti enters top 10
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Michelin tops 2020 UK social media ranking, Davanti enters top 10

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Photo Mix; Pixabay

For the fourth year in a row, Michelin can be found at the top of Tyres & Accessories’ 2020 UK social media ranking. Indeed, such is Michelin’s dominance in the annual table, only Goodyear (in 2012) and Dunlop (in 2016) have done enough to overtake the UK arm of the French tyre brand since our research began in 2011. In both cases, Michelin still managed to take second place.

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  1. Michelin takes global social media double
  2. Falken Tire takes pole position in 2020 global social media ranking
  3. Cooper tops global social media ranking
  4. Pirelli leading global social media tyre brand 2015
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Tirescanner sales up 150% year-to-date

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TireScanner

The last time Tyres & Accessories interviewed online tyre entrepreneur, Mike Welch, his latest venture Tirescanner was making in-roads in the US tyre retail market. Such was the concept’s growth that Welch had been pitching the business to investors in a bid to move onto phase two of Tirescanner’s development. Roughly a year later, T&A asked how things are progressing:

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  1. Tirescanner.com live in 42 US states, multi-million dollar funding close
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Kwik Fit owner Itochu prepares for sale scenario

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The UK’s largest tyre retailer, Kwik Fit, is being prepared for a sale. The Japanese Itochu group, which owns the European Tyre Enterprises Ltd (ETEL) holding company that controls both Kwik Fit and its wholesale counterpart Stapleton’s Tyre Services, has appointed investment bankers Nomura to advise on strategic options for the company, according to Sky News, with insiders suggesting a sale is very likely.

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  1. Kwik Fit benefiting from increased mechanical work
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Sentury Tire joins the Shenzen Stock Exchange

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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?

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  1. Georgia selected as location for $500 million Sentury Tire US factory
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MOTs worth £177 million a year in UK tyre sales

Autotech

Together, the increased utilisation of independent contractors on the supply side and record online search figures on the demand side show that MOT testing is booming. Considering that MOTs were put on hold for roughly four-and-a-half months between March and August (let’s not even mention the Northern Ireland MOT crisis), this is good news. Word of a coming MOT spike will be warmly welcomed by the tyre and aftermarket associations that lobbied government for the end of the MOT extension on both road safety and economic grounds. But what exactly does the apparent boom look like? And why does it matter to the tyre trade?

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Metropolitan Police fleet tyre demand

Photo: Dom J; Pexels

As part of the Fleet feature within the June edition of Tyres & Accessories, we investigated the various tyre demands of leading Police fleets. Amongst other things, we found that Kent Police are the most tyre-hungry and that – despite being contracted to basically two manufacturers under the Crown Commercial Service agreement – such fleets are actually surprisingly open to competing tyre manufacturers. With this in mind, and continuing our series analysing Police fleet tyre preferences, this month we take a closer look at Metropolitan Police fleet tyre demand.

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Kent Police are the most tyre-hungry

Largest Police Forces bar chartStatista; Tyre Industry Publications Ltd

Continuing our series investigating UK Police fleet tyre demand, we looked a little closer at the differences between the various regional forces tyre preferences. Despite the fact that, as we have seen, tyre purchasing is based on a national framework agreement, there was a surprising amount of variety in both tyre policy and what actually happened when the rubber hit the road, so to speak.

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From Mini to Maxi: six decades of Mini tyres

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It’s not just the car that’s grown. This August Mini officially began celebrating the iconic marque’s 60th anniversary. We at Tyres & Accessories wanted to join in with the celebrations by sharing a couple of interesting points about how the Mini’s tyres have evolved over the last 60 years.

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MOT test demand set to spike in 2019

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MOT Tyres DVSA DVA

The combination of increasing demand for MOTs and stricter test criteria look likely to create a boom in demand at garages and for tyres in particular.

After years of post-financial crisis scrappage schemes and investment, the UK car industry got used to boom times and consecutive year-on-year growth.

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  1. MOTs worth £177 million a year in UK tyre sales
  2. TyreSafe: significant increase in cracked wheel rims
  3. Bigger data, bigger voice
  4. UK tyre retail: Second tier growth continues
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