Toyo Tire Corporation achieved a 20 per cent year-on-year increase in net sales in the first half of 2022, with the total rising to 223,667 million yen (£1.373 billion; 1.626 billion euros). At the same time, operating income came in at 25,972 million yen (£160 million; 189 million euros) in the first half of 2022. Both figures outperformed the companies first-half 2022 forecasts.
Toyo Tire’s Serbia car tyre production plant became operational on 27 July 2022. The news is in line with Europe executives’ mid-July comments, which suggested the factory would start making tyres by the end of July. The latest news is that shipments are now beginning to move out and that the company is planning to “preferentially supply the US until the end of this year [2022]” in order to “meet robust demand there”.
Having previously confirmed that tyre production would begin at the company’s Serbia factory during July, Toyo Europe executives are now specifying that tyres will begin rolling off the production line by the end of the month. When full production gets underway, the factory will be pioneering in green electricity terms since it will utilise bifiacial solar panels.
Occupying one of Autopromotec Hall 20’s largest stands, Toyo made the second generation of its top-selling UHP summer tyre, the Proxes Sport 2 the centrepiece, alongside two recently launched products, the Proxes Comfort summer tyre and the Celsius AS2 all-season tyre. Toyo said the newest tyre marks an important evolution in terms of innovation and technology. “The new UHP summer tyre… has been designed using the most modern technologies known in the sector that have made it possible to produce a highly innovative tyre that aspires to become the technological leader in its segment,” said Dr Davide Dell’Aquila, Toyo Tire Italia.
Tyre comparison website Tyre Reviews has put ten popular tyres for performance cars to the test, making the brand-new Continental SportContact 7 a winner in its first outing on the independent assessment circuit. Reviewer Jonathan Benson fitted the ten tyre combinations to a BMW-powered Toyota Supra in sizes 255/35 R19 (front) and 275/35 R19 (rear) for the test, which he conducted over nine disciplines at Conti’s Contidrom facility. Given that the tyre was proven at the circuit, and is at least 12 months newer than any other product in this test, it is perhaps a little unsurprising that the SportContact 7 prevailed, but with reasonably comfortable first-place finishes in the dry and wet handling and braking tests, Tyre Reviews concludes that the tyre sets “a new standard for the UUHP segment.”
Toyo Tire U.S.A. Corp. will increase the dealer base prices on passenger car, light truck and commercial truck tyre patterns by up to 10 per cent. According to the company, the price increase is a result of continued increases in raw materials and logistics costs.
Toyo Tires is extending its support as main partner of the UCI World Cup Cyclo-Cross for the upcoming 2021-2022 season. Together with the UCI, Flanders Classics and the other main partners, Toyo Tires is continuing to “build on the growing international appeal of this elite sport.”
Toyo Tyre Australia Pty Ltd., the Australian sales subsidiary of Toyo Tire Corporation, will wind up its rubber mixing business as of 13 December 2021. The closure of the 1974-established operation directly affects 36 of the 107 people employed (as of 31 December 2020) by Toyo Tyre Australia.
Following the publication of stronger than expected second-quarter 2021 financial results that returned the bottom line to profitability despite pandemic- and seismic-rubber-related headwinds, Toyo published a statement ramping up its full-year 2021 estimates. See accompanying table (below) for further details.
Toyo Tire Corporation has re-examined and updated its natural rubber procurement policy and established this as an independent policy separate from the company’s CSR Procurement Guidelines that prescribe the proper procurement process for the Toyo Tire Group (the Group).
Toyo Tire Corporation shares that as of 1 July 2021, its Europe Project Development Department will cease being directly managed by the company’s Business Headquarters and will be transferred to the Production Headquarters, where it will be placed under the Headquarters Division.
As of 1 August 2021, Toyo Tire USA is increasing its prices “across all tyre categories” by up to 8.5 per cent.
Toyo
Toyo
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Seth Whales; AllJengi; Flickr; CC BY-SA 2.0
Martin Hangen
Toyo