Bridgestone Europe has announced an average price increase of 8 per cent in its car, van, SUV and motorcycle ranges. This will affect all of Bridgestone’s brands and will come into effect on 1 April, 2017 for summer tyres and 1 May, 2017 for winter tyres.
Mitas, part of the Trelleborg Group, has announced a five per cent increase in agricultural tyre prices in Europe. The new prices, which will affect both Mitas and Cultor brand agricultural and light agricultural application tyres, will come into effect on 1 February, 2017. The manufacturer said the rise is “driven by the recent increase in raw material prices.”
RMI Bodyshops (NAB & VBRA), the UK’s trade association for vehicle repairers, has been notified by several of its members of an increase in prices by BSI (Business Standards Institute) in assessment and kitemark costs for the BS10125 standard. Many bodyshops have received a letter informing them of the price increases due to come into force in 2017. The average bodyshop will see an additional cost increase of around £350 a year.
Just last week Energy Minister Amber Rudd raised the prospect of petrol costing less than £1.00/litre ahead of the general election as crude prices continued to fall. However from a low point of $45/barrel for Brent Crude in mid-January, there has been a significant rally back to $54/barrel this week. The point is that this makes is less likely that fuel will get as low as a pound a litre any time soon.
Yokohama Rubber reports that its operating income reached a record high in the first quarter of 2014. On the back of net income of net sales that were up 9.6 per cent year-on-year to 139.9 billion yen (£810.9 million), operating income jumped 54.6 to 11.7 billion yen (£67.8 million). Net income, at 6.5 billion yen (£37.7 million), was 14.8 per cent higher than in the first quarter of 2013. Sales and earnings increased in each of Yokohama’s three business sectors: tyres, industrial products, and other products. The company says its tyre business’ strong performance reflected robust growth in Japan and sales growth overseas. Operating income benefited in each business sector from a downward trend in raw material prices and from the weakening of the yen, as well as from sales growth.
Evonik Industries says its prices for several products manufactured by its Inorganic Materials business unit will soon increase. As of 1 June, prices for a number of silica products, metal oxides and matting agents will rise by up to eight per cent. Evonik says this measure is “needed to secure sustainable supply.”
Chancellor George Osborne confirmed at the Budget that he would maintain the freeze on fuel duty – yet drivers still see the cost of fuel as their biggest motoring worry according to new data from leading vehicle remarketing company, British Car Auctions (BCA). Research amongst motorists at the start of 2014 revealed that over 70 per cent of motorists worry most about the price of fuel – the same as 2013.
Crewe-based online tyre retailer Tyres On The Drive has enlisted outdoor advertising specialist Out Of Home International to help promote its services with a series of billboard advertising. Starting yesterday, six sheet adverts have been strategically placed at forecourts across Yorkshire and the North West. The two-week campaign was launched to inform motorists of the company’s tyre purchasing and fitting facilities and highlights the convenience and cost savings of mobile tyre fitting compared with the traditional garage experience. The billboards promise prices “up to 40 per cent cheaper than the high street,” and a service that fits around home and work schedules.
Automotive sector technology solutions provider epyx has added tyres to its 1link Vehicle Network trading platform. It says “leading tyre distributors and manufacturers” have signed up and will provide products at “competitive prices”. According to epyx, the inclusion of tyres in 1link will enable dealers to provide fleets with a nationwide, fixed price tyre offering.
From 1 April 2014, global prices for Lanxess rubber chemicals will increase in response to raw material price rises and unfavourable exchange rate effects. The adjustment will impact all product lines, including Vulkanox antidegradants, Vulkacit accelerators as well as specialty chemicals such as bonding agents (Cohedur), retarders (Vulkalent), plasticizers (Vulkanol), zinc oxides (Zinkoxyd aktiv) and DBD based peptizers (Renacit). The price increases will range from €0.10 to €0.70 per kilogramme (US$0.15 to $1.00) depending on the product and region.
German specialty chemicals company Lanxess AG reports that its sales decreased 8.7 per cent year-on-year in 2013, to €9.1 billion, and it says this decline is primarily attributable to lower selling prices in its Performance Polymers business segment due to lower raw material prices, and to the “challenging competitive situation.” On the back of increasing production-related costs and negative currency effects, EBITDA pre-exceptionals decreased 39.9 per cent year on year to €735 million, which was within Lanxess’ guidance range of €710 million to €760 million. Lanxess says a slight increase in volumes was unable to compensate for the decline in earnings. The Group’s EBITDA margin pre exceptionals fell to 8.9 per cent from 13.4 per cent in 2012.
Wheelwright, the UK’s largest wheel importer and wholesaler, has released details of a new concave addition to their 2014 collection: the Calibre CC-S. The 2014 programme features the brand new split five-spoke CC-S. According to the company, this style comes as a result of responding to “the dramatic increase in demand for deep concave styles”. Designed to retain “an air of OEM sophistication”, the precision engineered CC-S boasts a contemporary matte black/polished finish which accentuates the concave effect of the five spokes as they reach from the centre to the rim edge.
Yokohama HPT Ltd, the UK distributor of TSW and Victor Equipment wheels announced that the two wheels brands have added nine new wheel styles. All are available in the UK now.
Last year’s BEN Ball more than lived up to its billing as ‘the night of the year’ for the automotive industry. It will live long in the memory of all guests and is already attracting interest and enquiries for this year. BEN has decided to reward this interest with the offer of an early bird booking discount. Therefore every booking made before the end of March will qualify for a full 10 per cent reduction on all prices.
Manheim’s latest monthly UK Market Analysis in 2014 shows that part-exchange values have risen again for the second month in a row, with February witnessing an all-time high of £3,216, which is a £7 increase when compared with the previous month. On the whole, average selling prices have been on a positive trajectory over the past six months, with values rising by £587 over the period. In fact, the positivity goes even further back, as average values in February 2014 are £280 higher when compared with the same period last year.