Uphill Climb: Road to Recovery is Steep for Medium Truck Segment
Although 2009 was a tough year across the entire industry, the medium truck tire segment was hit particularly hard. The economic tailspin saw consumers tightening their budgets, which in turn resulted in diminished orders and less shipping. Trucks and other types of freight haulers sat idle, and demand for new tires plummeted. Freight tonnage was
Monro Opens Mr. Tire in Chambersburg
Monro Muffler/Brake-owned Mr. Tire Auto Service Center has opened its latest location in Chambersburg, Pa. The opening gives Monro Muffler/Brake 783 stores across the country. “We are very pleased to now have 16 Mr. Tire locations in Pennsylvania as an added convenience to our customers,” said Joseph Tomarchio Jr., tire group president for Mr. Tire. Mr.
Environment Issue Committee Formed by TIA
TIA has completely revamped its Tire and Rubber Recycling Advisory Council, replacing it with a new Environmental Advisory Council. Named to serve on the EAC were Co-Chairmen Dick Gust of Liberty Tire Recycling and Larry Brandt of MSB Tires; TIA board members Michael Baggett of Yokohama Tire Corp., Chip Huber of Q Fix Truck Service,
Study Shows Strong Link Between OE Satisfaction and Replacement Sales
Results of the latest J.D. Power Asia Pacific 2009 Japan OE Tire Customer Satisfaction Index Study indicate that high levels of satisfaction in OE tires may well lead to a notable increase in brand loyalty for replacement tires. The study results show that, on average, 74% of motorists in Japan are likely to stick with
Conti Extends JV for Asia Region Components
Continental has entered into an agreement to increase its stake in Continental Automotive Corp. (CAC), the Japanese joint venture it operates with Nisshinbo Holdings Inc., from 51% to 60% in 2010. This increase in shareholding will allow Continental’s Chassis & Safety Division to integrate its airbag systems and sensorics business. "With this step, Continental is
Let’s Grade the Options
Bridgestone has said that 2010 will be its last season of F1 racing. No more tires, no more dollars. And while most of the motorsport world’s F1 attention has been focused on whether Renault will remain in (yes it will) and if Michael Schumacher will suit up again (apparently he will), no one is addressing
Analysts Bullish on Tire Market Recovery in 2010
Financial analysts expect European tiremakers to increase prices between 5% and 8% in January 2010, in part due to increased demand and supply shortages in some markets. The Morgan Stanley analysts once again singled out Hankook for particular praise and a “Buy” rating, saying: “After raising tire prices by an average 7% in the U.S.
Hercules Opens Expanded Chicago TDW Faclity
Hercules Tire & Rubber Co. has moved its Chicago Tire Dealer’s Warehouse branch to a new, larger facility in nearby Franklin Park, Ill. The new Chicago TDW facility has 50% more capacity, a state-of-the-art inventory management system and expanded loading docks, and will now provide "will call" service to customers, Hercules said. “Our TDW division
Hankook Fifth in Europe? Maybe!
European marketshare data released by Hankook shows that Michelin remains the undisputed leader in both the car and truck tire segments – but the previously exclusive stable of top five tire manufacturers gained a new member in 2009. Hankook’s decision to publish its projections of how the land lies, following one of the most tumultuous
Still More Tire Price Increases
Another pair of tiremakers announced impending prices increases. Hankook Tire America Corp. is raising prices by up to 5% on its full line of passenger, light truck/SUV and medium truck tires, as of Jan. 1, 2010. Also effective Jan. 1, Toyo Tire USA Corp. will increase prices on all of its consumer and commercial tires