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You are here: Home1 / semiconductor shortage

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Unsatisfied but optimistic: Continental announces Q2 2022 financial results

Company News

After an April to June period punctuated by negative EBIT and a net loss, tyre maker and automotive components supplier Continental says it is “looking ahead to the second half of the year with optimism.” It is also maintaining its full-year outlook despite a current headwind that chief financial officer Katja Dürrfeld describes as being “rather like a hurricane.”

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Related news:

  1. Continental: Lower income despite strong tyre business in Q1 2022
  2. A “good result” – Continental returns to the black in 2021
  3. Continental revises 2022 outlook, publishes preliminary Q1 results
  4. Michelin publishes H1 2022 results, maintains full-year guidance
9th August 2022/0 Comments/by Stephen

June car registrations down a quarter

UK News

UK new car registrations fell 24.3 per cent year-on-year in June. According to figures released by the Society of Motor Manufacturers and Traders (SMMT), 140,958 new vehicles were registered during the month, the weakest June performance since 1996.

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Related news:

  1. EVs a strongpoint in Covid-stalled UK car market
  2. Most successful year for electric cars, but 2021 UK registrations just 1% higher than 2020
  3. January car production hits 13-year low
  4. New car registrations hit 24-year low in March
6th July 2022/by Stephen

First rise in 11 months for UK car production

UK News

UK car production in grew in May 2022 for the first time since June 2021. The Society of Motor Manufacturers and Traders (SMMT) report that a total of 62,284 units left factory gates during the month, a rise of 13.3 per cent. SMMT notes, however, that the increase must be viewed in context against May 2021, which was still suffering significantly from pandemic-related headwinds. Output remains 46.3 per cent below the pre-pandemic month in 2019, with ongoing supply chain issues, increasing economic uncertainty, rising business costs and disruption caused by the war in Ukraine.

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Related news:

  1. New car registrations hit 24-year low in March
  2. UK September car production hits four-decade low
  3. Car production falls for 8th consecutive month
  4. EVs a strongpoint in Covid-stalled UK car market
1st July 2022/by Stephen

Continental: Lower income despite strong tyre business in Q1 2022

Company News

Announcing its financial results for the first quarter of 2022, tyre maker and automotive technology firm Continental states that it “performed well” during the period despite “an increasingly turbulent market environment.” It describes its Q1 2022 tyre business as “strong.”

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Related news:

  1. A “good result” – Continental returns to the black in 2021
  2. Michelin: YTD sales up 15.6% to €17.2 billion
  3. Continental: Components supply issues hit Q3 2021 sales & earnings
  4. Continental revises 2022 outlook, publishes preliminary Q1 results
11th May 2022/by Stephen

New car registrations hit 24-year low in March

UK News

UK new car registrations fell by 14.3 per cent to 243,479 units in March. Despite manufacturers reporting robust order books during the first quarter, the Society of Motor Manufacturers and Traders (SMMT) shares that ongoing supply chain shortages – especially of semiconductors – continued to squeeze supply during what is normally a busy ‘new plate’ month.

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Related news:

  1. EVs a strongpoint in Covid-stalled UK car market
  2. January car production hits 13-year low
  3. SMMT: New car market recovery squeezed by supply issues
  4. UK September car production hits four-decade low
6th April 2022/by Stephen

Car production falls for 8th consecutive month

UK News

 UK car production fell 41.3 per cent in February, with the Society of Motor Manufacturers and Traders (SMMT) reporting the manufacture of 61,657 units during the month, 43,351 fewer cars than were made than in February 2021. This reduced output was primarily due to the persistent global shortage of semiconductors causing some factories to pause production, as well as the loss of output following the closure of a major plant in Swindon last summer.

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Related news:

  1. British car exports to China nudge 140k last year
  2. UK September car production hits four-decade low
  3. UK CV manufacturing 8.5% up in 2018
  4. UK automotive production drops again as investment dries up
28th March 2022/by Stephen

A “good result” – Continental returns to the black in 2021

Company News

Although chief executive officer Nikolai Setzer believes the past financial year was “a very trying one” for Continental and a period presenting “many challenges,” the tyre maker and automotive solutions company nonetheless managed to achieve a positive net income in 2021 after two consecutive years of losses.

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Related news:

  1. Continental: Components supply issues hit Q3 2021 sales & earnings
  2. Tyre business drives Continental’s profits
  3. Continental revises 2021 outlook
  4. Michelin: YTD sales up 15.6% to €17.2 billion
9th March 2022/by Stephen

January car production hits 13-year low

UK News

UK car production fell 20.1 per cent in January, to 68,790 units. The Society of Motor Manufacturers and Traders (SMMT) says this is the weakest January total since 2009. Output was down 17,262 units against the same month last year, which itself was one of the worst Januarys on record when volumes were impacted by friction in the new post-Brexit trading arrangements, extended shutdowns and the pandemic.

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Related news:

  1. EVs a strongpoint in Covid-stalled UK car market
  2. August car sales up 23 per cent – electric cars account for one in twelve sales
  3. SMMT: New car market recovery squeezed by supply issues
  4. UK September car production hits four-decade low
1st March 2022/by Stephen

Most successful year for electric cars, but 2021 UK registrations just 1% higher than 2020

Market Info, Product News, UK News

2021 UK car sales were stalled by Covid and its impact on the supply chain, the Society of Motor Manufacturers and Traders explains. 1.65 million new cars were registered in an increase of just 1.0 per cent on pandemic-ravaged 2020, making it the second-worst year since 1992. Sales were -28.7 per cent below pre-Covid levels thanks to headwinds, which included the semiconductor shortage. However, figures did show that the transition to electric cars is proceeding quickly. More than one in six registrations were plug-in, while battery electric cars alone rose to one in nine. Overall, the SMMT notes that this means more BEVs (Battery Electric Vehicles) were registered than in 2016-2020 combined. The society added that the UK auto industry is calling for the government to extend incentives and mandate chargepoint targets. It argues that the UK needs to accelerate consumer uptake of EVs, maintaining the country’s attractiveness against competitor markets.

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Related news:

  1. SMMT urges government to back new-tech diesel following market decline, uncertainty
  2. Fleet sales mean March new car sales up 11.5 per cent YOY
  3. Slight fall in August new car sales, but strong showing for electric cars
  4. Car registrations ‘incredibly encouraging’ comments Carwow
10th January 2022/by Andrew

EVs a strongpoint in Covid-stalled UK car market

UK News

Last year, new car registrations grew by a marginal 1.0 per cent on a pandemic-ravaged 2020, as 1.65 million new cars entered the UK market. Figures released by the Society of Motor Manufacturers and Traders (SMMT) underline the ongoing impact of Covid and the semiconductor shortage on the industry, with the market down 28.7 per cent on pre-pandemic 2019, representing the second worst year since 1992.

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Related news:

  1. UK new car registrations hit record low in April
  2. ‘Great relief’ but recovery ‘might be slower’ than expected – analysts on car sales
  3. SMMT: New car market recovery squeezed by supply issues
  4. Car registrations up 1.7%, battery EV uptake doubles
10th January 2022/by Stephen

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

Company News, International News, Premium, Product News
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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Related news:

  1. Is Continental about to break into PCLT tyre global big 3?
  2. Goodyear to regain number 3 global PCLT tyre volumes ranking – Astutus Research
  3. Davanti unveils wave of new product, partnership news at first conference
  4. Conserving costs, maximising business: Apollo Tyres’ response to the coronavirus pandemic
15th December 2021/by Andrew

Continental: Components supply issues hit Q3 2021 sales & earnings

Company News

Anniversary year ups and downs: As it marks one and a half centuries in the business, Continental reports that it has “set the strategic course for the next successful chapter in its history by making its previously announced structural adjustments” during Q3 2021. But the delivery situation for electronic components also worsened during the quarter, and Continental says this “had a significant impact on sales and earnings” that could only be partially offset by sales volumes within its aftermarket tyre and industrial product businesses.

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Related news:

  1. Stronger euro hits Continental in Q1 2018
  2. Less optimistic: Continental revises 2019 outlook, announces preliminary Q2 results
  3. Tyre business drives Continental’s profits
  4. Continental revises 2021 outlook
10th November 2021/by Stephen

Hankook Tire: Global issues affect Q3 2021 sales, profit

Company News

Consolidated sales and operating profit may have been down year-on-year during the three months to 30 September 2021, but Hankook Tire was nonetheless pleased to experience “qualitative growth” during the quarter.

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Related news:

  1. Michelin: YTD sales up 15.6% to €17.2 billion
  2. Hankook Tire: Lower profits in H1 2019
  3. Earnings decrease, but larger tyre sizes grow in importance for Hankook Tire
  4. Apollo Tyres: Cost of raw materials, chip shortage impacts on operating performance
2nd November 2021/by Stephen

Apollo Tyres: Cost of raw materials, chip shortage impacts on operating performance

Company News

For the three months to 30 September 2021, the second quarter of its 2021-22 financial year, Apollo Tyres reports consolidated revenue of Rs 50.77 billion (£493.84 million). This represents an 18 per cent increase over the same period of the previous fiscal year. EBITDA decreased 9.8 per cent year-on-year, to Rs 6.38 billion (£62.06 million) with a margin of 12.6 per cent (16.5 per cent in Q2 2020-21). Net profit amounted to Rs 1.74 billion (£16.93 million).

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Related news:

  1. Apollo Tyres maintains turnover, increases profits
  2. Apollo Tyres looking for ‘healthy topline growth’ after 22% sales increase in FY 2017-18
  3. Apollo Tyres: Stable sales in Europe, but profits further in the red
  4. Apollo Tyres: Net profits up 155% in Q3 2020-21
1st November 2021/by Stephen

UK September car production hits four-decade low

UK News

UK car production fell 41.5 per cent in September, the third consecutive month of decline, with 67,169 cars manufactured – the worst performing September since 1982 – according to the latest figures released this week by the Society of Motor Manufacturers and Traders (SMMT).

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Related news:

  1. UK automotive production drops again as investment dries up
  2. SMMT: 1 in 3 auto sector firms shedding jobs ahead of no-deal Brexit
  3. SMMT calls again for “ambitious” EU trade deal as UK car production drops 16.5% in November
  4. UK car manufacturing down 18% in October
29th October 2021/by Stephen
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