Connect with us

News

Losses Hitting 20% of U.K. Tyre Business

Advertisement

Onein five U.K. tyre manufacturers and distributors are now loss-makingoperations, according to Plimsoll Publishing.

Advertisement
Click Here to Read More
Advertisement

Thereport’s author, David Pattison, commented: “Increasingly we are seeingcompanies making a loss for the first time in their history and I think theycan rightly claim they are victims of difficult trading conditions.”

However,30 companies are reportedly making a loss for the second and even third yearrunning. According to Plimsoll, “these companies are either blatantlyundercutting the rest of the market to enhance or maintain market share or,more likely, have delayed making…painful decision[s]…No one wants to trimcosts, lay off staff, cancel dividend payments and the like but continuing onregardless is fast becoming unviable.” (Tyres & Accessories)

Advertisement
Click to comment

POPULAR POSTS

Buyer Beware? Chinese Tires Mean Different Quality Levels

News

Cooper Introduces CS5, Phases Out CS4

News

Michelin Rolls Out Premier LTX

Featured

Toyo’s Celsius Plans to One-up All-Season Tires

Connect