The CEOs of 10 leading tyre manufacturers have gathered to confirm a two-year Tire Industry Project (TIP) workplan focused on “sustainability in the tyre lifecycle”. The plans includes targets relating to tyre-emission research and end-of-life tyre management amongst other points.
Toyo Tires has extended its all-terrain tyre range for North America to include a tyre aimed at electric trucks and SUVs. The tyre maker designed and is manufacturing the Toyo Open Country A/T III EV in the USA and plans to offer “a wide range of unique sizes and high-load combinations for 18- to 24-inch wheel diameters.” No word from Toyo so far about a UK or European launch.
Bryce Menzies has won the Baja 400 for the third consecutive year in his Toyo Tires equipped Trophy Truck. Menzies previously claimed the Baja 500 and Mexican 1000 Races in 2023. Toyo-equipped trucks won all three trophy truck classes: Gustavo Vildósola Sr secured another victory in the Trophy Truck Legends class, while Jason McNeil claimed top spot in the Trophy Truck Spec class. These successes translate into a commanding lead in championship points across all three Trophy Truck categories this season. Each driver is now poised to begin the upcoming SCORE Baja 1000 race in November from pole position.
Toyo Tires is installing a 14.0 MW solar power plant at its Toyo Tire Malaysia SDN BHD (TTM) tyre factory. According to Toyo representatives, TTM “mega-solar system” will be the largest in the state of Perak, Malaysia when work on the 96,000-square-metre rooftop space of the factory building is completed.
Toyo Tire Corporation will end the manufacture of non-tyre automotive parts at its subsidiary in the USA. The cessation of production at Toyo Automotive Parts (USA), Inc. will take effect on 31 October 2023, and the company will be dissolved as a business entity. The closure of the Franklin, Kentucky-based business affects (as of June 2023) 207 employees.
Toyo Tires is supporting the International Federation of Sport Climbing (IFSC) World Championships between 1-12 August in Bern, Switzerland. The tyre-maker’s participation comes in line with its new partnership with the IFSC, announced in June. Toyo’s European CEO, Kenta Kuribayashi said that Toyo’s partnership was inspired by the sport’s growing global community, which “resonates with Toyo Tire’s philosophy” of “creativity and innovation”.
Iori Suzuki will retire as chairman, president and chief executive officer of Toyo Tire Holdings of Americas Inc. (TTHA) on 31 July 2023, and two will fill the roles he vacates the following day. Tatsuo Mitsuhata is to become chairman and chief executive officer of TTHA, and Nobuo Yoshida has been named the business’s president and chief operating officer.
As of 1 July, Ralf Gutena is the new director of sales and marketing at Toyo Tire Holdings of Europe GmbH. Switching to Toyo from Kumho Tire Europe, Gutena is based in Germany and responsible for increasing market penetration in Europe.
As of 1 July 2023, Yoji Imura has taken on new responsibilities at Toyo Tires. The former president of Toyo Tire Serbia LLC is now chairman and chief executive officer of the Serbian business. Kadir Aykut Gidergi, previously plant manager in Serbia, is now president and chief operating officer of Toyo Tire Serbia LLC, effective 1 July.
Toyo Tires with Ring Racing had a successful outing in its recent visit to the Nordschleife, achieving a podium finish in the Nürburgring Langstrecken Series race. After qualifying fourth in their Toyota GR Supra GT4 EVO2023, Heiko Tönges took the start in car number 170, with Michael Tischner taking over for the middle stint and team principal Uwe Kleen bringing it home for the finish. The Toyota GR Supra was equipped with Nürburgring-soec Toyo Proxes Slicks.
Full-year 2022 financial results show that – in terms of share price performance, at least – Japanese tyre manufacturers are leading the way on the global stage. Much has happened in the last five years, but five-year share price data is clear that the costs of chip shortages, shipping, dearer raw materials, pandemic and war have hit European and Western tyre brands harder than their Japanese counterparts. We compared the share performance of five of the largest European and Western tyre brands (namely: Michelin, Goodyear, Continental, Pirelli and Nokian) during the last five years with the leading Japanese-based tyre manufacturers (Bridgestone, Sumitomo Rubber Industries, Yokohama and Toyo Tires) in order to gain an insight into their relative performance.
On 1 April 2023 Colin Pears, currently Sales Operation Manager at Toyo Tyre (UK) Ltd., will take over as Managing Director of the tyre maker’s UK subsidiary. He begins in this role on the date that Teppei Shigeno ends his tenure as President of Toyo Tyre (UK).
Toyo Tire Corporation has appointed Masaomi Kono division general manager of its Europe, Africa & Middle East sales division and also, confusingly, general manager of said division, as well as general manager of the Europe, Africa & Middle East sales department. Kono begins in these roles, and presumably will receive slightly larger business cards, on 1 April 2023.
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