China’s Tiremakers Facing Tougher Competition – From Majors
China’s tiremakers are facing tougher – and growing – competition from major industry names as companies like Groupe Michelin, Bridgestone Corp. and others are boosting their investment in China. According to the People’s Daily, “Booming domestic market made foreign companies more confident in their expansion in China, and will lead to more fierce competition in China,"
New Generation Bridgestone Potenza S001 UHP Tire
Bridgestone Corp. has launched a new flagship UHP tire aimed at the world’s top sports cars. The Potenza S001 is designed for maximum sports performance and, according to the company, can also offer high fuel efficiency/reduced rolling resistance at the same time. Already factory fitted on the Aston Martin Rapide and Ferrari F458 Italia, the
Down Market Gives Titan $300 Million Sales 2009 Drop
Extended OEM shutdowns and downturns in its core markets led Titan International to a $300 million sales fall-off in 2009. Titan posted 2009 sales of $727.6 million, as compared to $1,036.7 million in 2008. Net loss for the year was $24.6 million, compared to net income of $13.3 million in 2008. Sales for fourth quarter
Report: Memphis Dealer Eyed in Tire Repair Contract Dispute
The Memphis Commercial Appeal has reported that a local tire dealership, contracted with the city to repair flat tires, racked up bills of more than $1 million last year – a substantial increase from 2005 when it charged the city just $100,000. Around Town Tire & Trucking holds the exclusive rights to repair flat tires
Two New Radial Plants Planned in VN
tnamese companies are rushing into the radial tire business. Citing growing demand for tires driven by fast-rising sales of new cars and trucks in the country, a number of companies have announced plans to build radial tire plants in the country. The Viet Nam Chemical Group (Vinachem) has already made a $55 million investment in
2009: Bridgestone Posts 20% Sales Drop, 90% Profit Fall
Bridgestone Corp. reports that 2009 presented the company with a “challenging” operating environment due to weakened consumer spending and declines in private sector capital investment, which counteracted signs of recovery among some exports. However, the Japanese manufacturer states that although the economic recession in Europe and the U.S. continued, some sectors showed signs of stabilization.
Michelin’s Profits Down 71% in 2009
Michelin reported last week that it saw a decline of 71% in its 2009 profits due to decreased sales to automakers and trucking companies, in addition to a rise in reorganization costs. Sales fell 9.8% to 14.8 billion euros. Net income fell to 106 million euros ($145 million) from 360 million euros in 2008, short
Rolling Forward: Tiremakers Improve Fleets’ Fuel Efficiency Through Technology
Modern trucking fleets face difficult challenges on a day-to-day basis. Fuel efficiency is one of the most important concerns to the contemporary fleet owner. Volatile oil prices dramatically affect the cost of fleet operations and maintenance. Growing environmental concerns push the development of green technologies and shape consumer perceptions of businesses. New government regulations to
Bridgestone Ups Ag Tire Prices
Bridgestone Americas Tire Operation’s Agricultural Tire, U.S. & Canada Commercial Tire Sales division will increases prices on all Firestone branded agricultural, construction and forestry tires, as well as all Bridgestone branded garden tires sold in the U.S. and Canada replacement markets. The increase, effective April 1, will be 5%, with possible adjustments added in-line. “In
Washington Tire Walking a Thin, Thin Wire
You just gotta love public records. Hard for someone notorious for hiding to hide when the government says you just can’t hide. It appears (again) that all is not as it seems with our man-with-a-plan Abraham Hengyucius and his American/Colorado/Washington Tire Corp. You’ll recall that Hengyucius made his pitch to the citizens of the Port