Deutsche Bank Lowers U.S. Market Expectations
Deutsche Bank has a dim view of the North American tire market for the remainder of 2011. The company lowered its estimates on both Goodyear and Cooper based on "evidence" that the replacement tire market was faltering. According to Deutsche Bank, U.S. replacement tire sales fell 11.2% in May following a 2.3% decline in April.
Okla. Dealer Expands from Within by Offering Added Merchandise
etting into the cell phone business turned out to be a good move, too. Signs stating “AT&T Authorized Retailer” went up next to “tires and electronics,” and soon, five stand-alone AT&T wireless stores were opened. Gross sales in 2009 were more than $14 million. “The business is run as three separate entities,” says Don’s son,
Apollo Opens Market in Middle East
Infrastructure and tire usage in the Middle East is very similar to that in India, says Apollo Tyres, and this is the reason why the company’s products have enjoyed a high level of acceptance throughout the region. In total, the Middle East accounts for some 30% of the Indian tiremaker’s export revenues, and in the
Marangoni in Profile Tyrecenter Deal
Following several years of having what it calls a "marginal presence," Marangoni Retreading Systems has announced its return to the Dutch and Belgian markets. This Benelux comeback comes courtesy of a partnership with tire reseller and fast-fit chain Profile Tyrecenter. Marangoni states it will now expand its business in cooperation with what is the largest
Italian Authorities Tackle Thousands of Fake Wheels
Authorities in the Northern Italian province of La Spezia have seized 50,000 counterfeit wheels, reportedly worth over 20 million euros. The local Guardia di Finanza seized the products deemed to be hazardous to the safety of motorists, having intercepted them on the way into the market from China. In addition to the wheels, police also
Taylor Re-Elected as Titan Chief
Titan International shareholders re-elected three to the company’s board, and Morry Taylor was re-elected as chairman and CEO of the tire and wheel producer. The elections were held during and after Titan’s annual meeting on May 12. Shareholders re-elected Richard Cashin Jr., Albert Febbo and Mitchell Quain to three-year terms on the board, and they
Federal Readying Teams for Pikes Peak
Three drivers plan to tackle the Pikes Peak International Hill Climb this June running on Federal tires. Pikes Peak’s 89th running on June 26 will feature drivers Dave Kern, Savannah Rickli and Ken Stouffer in the Time Attack division. They will sport the Federal FZ-201 semi-slick tire. Rickli, last year’s Rookie of the Year and
T/A, Petro Take on Continental Lines
Continental Tire the Americas has signed a multi-year agreement to sell Continental brand medium truck radials at TravelCenters of America and Petro Stopping Center sites throughout the U.S. and Canada. The T/A and Petro network is comprised of more than 220 locations with truck maintenance and repair centers. Additionally, through TravelCenters of America’s RoadSquad program,
ATD Plans Two All-Access Playgrounds
American Tire Distributors is throwing its support nationally behind the construction of disability-access playgrounds. Announced at ATD’s recent Tire Pros dealer meeting, the distributor plans to open two "Tread Town" playgrounds this year, one in Jackson, Miss., and another in Salt Lake City, Utah. Each playground costs some $75,000-$100,000 each to build, and ATD said
Nexen Opens European Technical Center
Nexen Tyre opened a technical center in vicinity of Frankfurt, Germany, in March, and wants the Nexen Europe Technical Center to be Europe and South Korea’s interface for Nexen’s engineering development.