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.
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YokohamaYokohama USA launches Geolandar A/T XD pickup truck tyre
YokohamaAcross the Atlantic, Yokohama Tire Corporation, the North American manufacturing and marketing arm of Tokyo, Japan-based The Yokohama Rubber Co., Ltd. has launched the Geolandar A/T XD. The Geolandar A/T XD is engineered for “full-size pickup trucks and commercial vans”. It is severe snow service-rated and moulded for optional studs purportedly offering “outstanding on- and off-road traction all year round”. The A/T XD is initially available in 21 sizes ranging from 16 to 20 inches, with more sizes coming later in the year.
Mickey Thompson helping Dodge break V-8 muscle records one last time
The Dodge Challenger SRT Demon 170 is the brand’s last V-8 muscle car and the final home for the 6.2 litre Hellcat engine, which is being retired to make way for eMuscle. As the concluding chapter in Dodge’s V-8 muscle story, the SRT Demon 170 will reportedly be the world’s quickest 0-60 mph production car. Mickey Thompson Tires has taken on the important car-to-road remit.
Nexen Tire invests in curbside management firm Automotus
Next Century Ventures (NCV), Nexen Tire’s venture capital arm, has invested in Automotus, a curbside management technology company. Nexen representatives described the investment as a way of meeting “NCV’s goals to revolutionize the mobility industry”. No financial details have been released.
Next stop “Americas”: Linglong aiming for global production capacity top 5 by 2030
Alongside an exclusive tour of Linglong Tire’s new European production base in Serbia, Tyres & Accessories sat down with chairman Wang Feng in a conversation that covered topics including the company’s plans for its latest factory in Serbia, the location of its next manufacturing investment and the fast-growing tyre manufacturer’s strategic goals.
Apollo Tyres MD: ‘Our emphasis is back on America’
Apollo Tyres10 years after Apollo Tyres’ bid to acquire Cooper Tire fell through, vice-chairman and managing director Neeraj Kanwar says the company is putting its emphasis on back on North America and even hinted at the goal of building a tyre production facility there.
Vipal exhibits at 68th OTR Tire Conference
VipalIn the USA, Vipal Rubber exhibited at the 68th Off-the-Road Tire Conference fair. Running between 22 and 25 February at the Hilton Tucson El Conquistador Golf & Tennis Resort in the city of Tucson, Arizona and organized by the Tire Industry Association, the OTR Tire Conference presents innovations from the off-road sector.
GalgoAmerica first: Continental sister company Schaeffler investing across the pond
Major German automotive components supplier Schaeffler Group, which like tyre and automotive systems firm Continental counts the Schaeffler family’s IHO Holding as a significant shareholder, is shunning investment at home and in Europe in favour of the USA. In addition to more advantageous energy prices, Schaeffler looks approvingly upon the USA’s more pragmatic approach to climate issues.
Galgo attends 2023 OTR Tire Conference
GalgoPre-Q Galgo Corporation attended the 2023 OTR Tire Conference in Tucson, Arizona between 22 and 25 February. “We were excited to attend the meeting functions and exhibit at this year’s event. The conference was exciting, and the relaxed atmosphere allowed us to spend quality time with our customers”, said Ron Elliott marketing manager, Pre-Q Galgo Corporation, adding:
Yokohama Rubber reports record 2022
The Yokohama Rubber Co. Ltd. has reported record sales and earnings in its fiscal 2022 (January to December 2022) figures. Sales revenue increased 28.3 per cent over the previous year, to 860.5 billion yen (£5.338 billion; 6.009 billion euros; US$6.409 billion). Business profit increased 12.8 per cent to 70.1 billion yen (£434.864 million; 489.504 million euros; $522.164 million). Both sales and profit were record figures. However, due to profit from the sale of Yokohama Rubber’s headquarters building in the previous year and other factors operating profit was down 17.7 per cent to 68.9 billion yen.
SRI to “optimise” tyre business portfolio
Tyre-related business profit at Sumitomo Rubber Industries (SRI) stood at 67.9 billion yen in 2016 and was still a respectable 41.4 billion yen in 2021, but last year dropped to 12.3 billion yen (£76.2 million). It’s therefore no surprise that SRI believes it has been investing too much capital in unprofitable businesses, and the company intends to change this.
Europe to bear 40% of Goodyear’s global job cuts
The news that Goodyear lost $104 million in the fourth quarter of 2022 won’t be welcome in the company’s Europe Middle East and Africa (EMEA) region. The official figures also confirmed projections a fortnight earlier that EMEA’s own fourth-quarter 2022 loss of $80 million would make up the lion’s share of the red numbers. Back then, Goodyear’s Ohio-based global executives announced plans to cut 5 per cent of the firm’s global salaried workforce and official statements featured implicit references to the underperformance of the EMEA region, raising questions about how many jobs would be cut in Europe.
Enviro gets follow-up order from US oil company
EnviroScandinavian Enviro Systems (Enviro) has received an order for tyre-derived pyrolysis oil, with an estimated value of 4.7 million Swedish krone ($450,000). Enviro hasn’t named the firm behind the order, but has said that it is “the subsidiary of a leading US oil company that submitted an initial order for oil in February of 2022 for production tests”.
Hankook tyres for new US race series
Master Class of Racing (MCoR) is a new and – according to its promoter – “industry-changing” race series in the USA. The stated main goal of MCoR is to “offer sprint racing and a fantastic short format endurance racing at a cost that makes sense for teams and more critically, the drivers.” All of these drivers will compete on Hankook tyres.
