The “2023 Green Manufacturing List” announced by the Ministry of Industry and Information Technology of China commends companies with outstanding performance in the field of green manufacturing. Tyrepress China notes that several companies related to the tyre industry were selected as “Green Factories” and “Green Supply Chain Management Companies”.
Triangle Tyre has been included on the latest China Construction Machinery Technology list of Prime Suppliers. the latest China Beijing International Construction Machinery, Building Material Machines and Mining Machines Exhibition & Seminar (BICES 2023) took place in Beijing in September, hosting the 2023 China Construction Machinery Technology Innovation Summit & Prime Suppliers 500 Launch Ceremony. Triangle Tyre said its reputation as a construction tyre supplier and innovation capability were key factors in gaining a place on the list.
Details of the first wave of the EffeXSport product line-up were released at the end of the first quarter and explain that the initial range is made up of 54 sizes ranging from 16 to 20 inches. Those products were already available back in March. Moving forward, a further 50 sizes will be added by the end of the year. What we now know is that the overall range will be more than half A-rated on the European tyre label. Triangle’s recent track event at the Hungaroring gave more details of how Triangle is developing its range by balancing compound and construction, as published in our July print edition. Subscribers can read all the details by clicking here.
Doublestar, Guizhou Tyre, Linglong, Triangle, and Aeolus recently disclosed their semi-annual results forecasts. Doublestar was in the red in the first half of 2023. The other four tyre companies estimated that their performance would rise. Tyrepress China found that adjusting market and product structure became essential reasons for the net profit growth of several Chinese tyre companies. At the same time, the decline in raw material prices and shipping costs benefited tyre manufacturers in the first half of the year.
Triangle’s EffeXSport passenger car tyre range is not new to the market. The high-performance tyres were previewed at Tire Cologne in May 2022 and Triangle highlighted the initial line-up’s strong labelling performance in March 2023. However, Triangle’s EffeXSport event at the Hungaroring near Budapest, Hungary sought to offer key distributors and journalists the chance to “EffeXperience” the tyre’s performance when pushed to the limit.
On June 9, the 2023 Auto-Tyre Cross-border Development Summit Forum was held in Beijing. The theme of this forum is “Looking forward, responding to changes”. Representatives attending the meeting came from automobile manufacturers such as Chery, Great Wall Motor (GWM) and BAIC and tyre manufacturers such as Michelin, Maxxis, Triangle and Giti.
While tyre retail sales volumes in Russia reportedly declined 16% year-on-year in Q1 2023, to 3.2 million units, sales value dropped 42%. The growing popularity of lower-priced tyres partially explains this larger decrease in turnover, and imports from China and Korea rose significantly. An expert from one association nonetheless still recommends European tyres, even though they’re hard to find and expensive.
Triangle Tyre’s new ultra-high performance tyre, the EffeXSport TH202 has achieved a milestone in the Chinese manufacturer’s development of greatly improved products targeting growth in the UK and wider European markets. The tyre has achieved the top A-grade rating for wet grip on the European tyre label on more than half of its size range. Triangle unveiled the new flagship product at The Tire Cologne 2022 in preparation for its European market introduction in 2023. It said that its latest advanced technologies had allowed Triangle to bridge the trade-off between performance and comfort, developing a tyre with “excellent results” in dry and wet braking, driving precision, stability at high speed, and wear resistance.
Luca Mai has returned to Triangle Tyre in Europe to lead the Chinese manufacturer’s off-the-road tyre segment. OTR specialist Mai left his position as OTR director Europe at the end of August 2021 having joined the company in 2019. The OTR tyre expert previously spent two decades at Marangoni. He reassumed his tenure as part of the European Triangle team, managing the OTR segment, at the start of the year. Corrado Moglia, CEO of Triangle Europe said Mai’s “skills, experience, and knowledge of the sector, with the passion that sets him apart, will help us achieve our goals.”
The European Commission has provisionally recalculated anti-Chinese-produced truck tyre import tariffs to between €21.12 and €61.76 per tyre, equating to a reduction of between 0 and 51 per cent, depending on the manufacturer. Consultation on the provisional recalculation is now open until 23 January, before the final determination will be made on 25 January 2023.
Based on stock market reporting for the third quarter of 2022, the top nine Chinese listed tyre companies ranked by revenue are Sailun, Linglong, Triangle, Huayi (the holding company of Double Coin), Guizhou Tyre, Sentury, Aeolus, Jiangsu General, and Doublestar. (The leading Chinese tyre company according to Tyrepress global rankings is ZC Rubber (Hangzhou Zhongce), but it is not listed.) The figures show that Sailun has completed a meteoric rise this year to become the Chinese tyre industry’s stock market leader, with an income of more than 6 billion yuan in the quarter, putting it within reach of the global top 10 tyre manufacturers.
At the end of October, several listed companies, including Linglong, Triangle, Sailun, Aeolus, Jiangsu General, Guizhou Tyre (Advance), Doulestar and Sentury, released their operating results for the third quarter. In the third quarter, Linglong produced 17,015,900 tyres and sold 16,623,600 tyres, with a revenue of about 4.37 billion yuan (about 520 million pounds, 600 million euros) and a net profit of about 110 million yuan (about 13.1 million pounds, 15.22 million euros).
In September, Stapleton’s Tyre Services became the exclusive Great Britain distributor of Triangle passenger car and van tyres. The deal, which has been in the making for the last couple of years, will build on the strengthening relationship between Triangle Tyre and the UK’s largest tyre wholesaler. It was finalised after comprehensive testing of the Triangle range by Stapleton’s and its ultimate parent company Itochu. In recent years, the company has become the largest distributor of Triangle products in Europe. Stapleton’s states that Triangle is a “strong strategic fit in the economy segment” of its portfolio. It will make the brand available to “all customers in every channel.” Unveiling the deal, Stapleton’s hosted key dealer customers and European representatives of Triangle at PalmerSport at the Bedford Autodrome. Tyres & Accessories also attended the event, taking the opportunity to speak to Stapleton’s managing director Andy Fern, who took the reigns in the first quarter of 2020 just before the Covid-19 pandemic disrupted business as usual, about the new deal and the evolution of the Stapleton’s business under his leadership.