8 in a row: Maxxis a GM Supplier of the Year, again
Maxxis is a GM Supplier of the Year for an eighth consecutive year. GM recognised the tyre maker at an event honouring the company’s top global suppliers for 2023.
Across the Atlantic they are called tires, while over here we use a “Y” and say tyres. This tag provides the latest tyre business news emanating from the United States of America (USA), whichever way you spell it.
Maxxis is a GM Supplier of the Year for an eighth consecutive year. GM recognised the tyre maker at an event honouring the company’s top global suppliers for 2023.
Kumho Tire USA reports that Kumho has become the official tyre of Formula Drift as a major sponsor of the Formula Drift Pro Championship. “As an ‘Official Tire of Formula Drift,’ this will provide a national footprint to elevate the brand in the United States, reaching millions of motorsport enthusiasts,” said Shawn Denlein, president of sales and marketing, Kumho Tire USA.
Electric vehicle (EV) owners are reporting faster tyre wear rates than they experience on internal combustion engine (ICE) vehicles. And that’s leading to a widening satisfaction gap between original equipment tyres and electric vehicles (EVs) and ICEs, according to the J.D. Power 2024 U.S. Original Equipment Tire Customer Satisfaction Study, released at the end of March. The study shows that EV owners have similar expectations of tyre wear as do owners of ICEs, despite EV tyres wearing faster due to greater vehicle weight and higher torque.
TBC Corporation has appointed Bill Schafer as Chief Operating Officer (COO) for TBC Brands and TBC International. Schafer will report directly to TBC Corporation’s President and Chief Executive Officer, Sam Kato, and will oversee all TBC Brands and TBC International sales initiatives, including customer service, commercial tyre sales, equipment and non-tyre sales, and operations.
Nexen Tire recently unveiled a significant multi-year collaboration in the USA with Major League Baseball (MLB) team the San Diego Padres. The deal spans the seasons from 2024 to 2027.
TBC Corporation, one of North America’s largest marketers of automotive replacement tyres through wholesale and franchise operations, has named Shingo Aso its Executive Vice President, Corporate Development. In this role, he will lead the corporate development initiatives, mergers and acquisitions, strategic alliances and new business development.
Completion of a major upgrade to its Des Moines facility in the USA gives Titan International greater plant capacity. The company invested US$2 million in the expansion project, which includes the addition of two new 104-inch curing tyre presses that will accommodate the recently expanded AgraEDGE tyre line.
The Branford Group is conducting an auction at the former Toyo Automotive Parts USA facility in Franklin, Kentucky in April. The auction follows the decision of Toyo Automotive Parts USA’s parent company, Toyo Tire Corporation, which decided in August 2023 to “cease manufacturing of automotive parts” at its US subsidiary.
Across the Atlantic, the Tire Industry Association (TIA) and the U.S. Tire Manufacturers Association (USTMA) have formed the Tire Recycling Foundation, which the partners describe as “a collaborative initiative aimed at fostering sustainable and circular market solutions for end-of-life tyres”.
Ireland-based end-of-life-tyre recycling company Life for Tyres Group (L4T Group) is establishing its first processing facility in the USA. Government agency Louisiana Economic Development shares that L4T Group will set up shop at the Port of South Louisiana, investing US$46 million to build a plant on a 10-acre (4-hectare) site.
Days after the European Commission announced that it is investigating a number of leading tyre manufacturers in relation to allegations of price-fixing, the same companies have become the subject of a similar class-action lawsuit in the USA. The class action relates to “…purchases of tyres within four years prior to the filing” – which clearly relates to a potentially enormous number of tyres. The case basically alleges that the named tyremakers colluded to raise and sustain higher tyre prices and that such action was at least partly facilitated via public communications. The named tyremakers have all already denied price fixing and stated their compliance with the law and their cooperation with investigations in relation the EC investigation.
The United States Department of Commerce has released the results of its anti-dumping review of imported passenger car and light truck tyres (PCR) made in Thailand. The result of the re-examination investigation is consistent with the preliminary one and its good news for Thai tyre manufacturing plants. The release of the result also means PCR products produced in Thailand are expected to enter the United States market in large quantities soon.
Hankook Tire America Corp. has announced two changes to its management team. Kyuwang (Ken) Cho is the business’s new Vice President of U.S. PC/LT Sales, with overall responsibility for the market. K.C. Jensen takes on the role of Vice President of PC/LT Sales, focusing on Hankook Tire America’s West region as well as other strategic initiatives.
Yokohama Tire has added Isenhouer Brothers Racing to its line-up for the annual King of the Hammers race. They will join veteran Team Yokohama members, including Wayne and Kristen Matlock, Levi Shirley, Apdaly Lopez, and Jonathan and Jordan Brenthel, competing on Yokohama Geolandar off-road tyres. The Isenhouer Brothers will compete in the Spec TT class, while Shirley heads up the 4400 class. Both will be on purpose-built Geolandar MT-R 40X13.50R18 tyres. “We are pumped to put these new 40-inch Geolandars to the test, not only on the racetrack but also get out there in the rocks and to do some 4×4 adventuring this year,” Isenhouer said.
The U.S. Department of Commerce is investigating imports of truck and bus tyres from Thailand after the United States International Trade Commission determined that the domestic tyre industry is materially injured by tyre imports sold in the USA at “less than fair value.” The Department of Commerce’s preliminary antidumping duty determination is due on or about 25 March 2024.
If you would like the latest news from the Chinese tyre industry in Chinese, visit our partner site TyrepressChina.com. Or click below to continue on Tyrepress.