For almost 40 years BKT has specialised in the off-highway tyre segment, but the firm now has its sights on India’s car and truck/bus tyre markets. The company outlined this aim in a new five-year strategic plan that targets annual revenue of Rs 230 billion (£1.99 billion / US$2.7 billion) by 2030.
TyreSafe has helped bring formal recognition to tyre safety within the Royal Society for the Prevention of Accidents’ (PoSPA) national report for the first time in its century-long history. The tyre safety organisation hailed the inclusion as a “pivotal shift in road safety policy.” While tyres are already subject to legal requirements, public awareness remains limited. The Strategy’s recommendations to strengthen enforcement and educate road users on the dangers of illegal and poorly maintained tyres are essential to making UK roads safer.
South Korean tyre maker Hankook has turned 80, and Hankook & Company Co., Ltd. is marking the occasion with the launch of a new long-term business portfolio. This portfolio, explains Hankook Tire & Technology’s holding company, will advance “new growth engines of the future.” Hankook & Company has also declared a renewed commitment to increase competitiveness and gain stronger leadership in the company’s core businesses.
Apollo Tyres has appointed former Pirelli CEO Francesco Gori as its new advisor for strategy. Part of Apollo Tyres’ management board, Gori will support the company in its goal of international growth, identification and development of new opportunities.
Even though some 55 per cent of the more than RMB 9 billion (£943 million) it earned last year came from sales outside of China, Triangle Tyre Co. Ltd. doesn’t yet consider itself a global company. But this is something China’s largest privately-owned tyre business intends to change. While it continues to invest in domestic R&D and manufacturing facilities, Triangle says it is also ready to expand its footprint beyond China. The company has appointed a new chief executive officer to facilitate this step, and during one of his first appearances in this new role he shared that we don’t have long to wait until we see the emergence of a more global Triangle Tyre.
Last month’s leader “Pumping up” discussed how a number of key economic and tyre market indicators are pointing to better days ahead in the tyre market. Then in mid-April ETRMA reported that its members experienced double-digit increases in (sell out) sales during the first quarter of 2014 compared with the low first quarter of last year. But how does this translate into retail demands and what strategies are tyre retailers adopting to make the most of any consumer pickup coming through? Here Tyres & Accessories analyses the latest research from Encircle Marketing in light of recent macro-economic indicators.
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