Drivers Eye Eco Tires, Turned Off by Eco Car Costs
According to a new survey by Hankook Tire America Corp., 61% of drivers “would be interested in buying eco-friendly tires,” primarily for fuel economy reasons.
Turkish Tire Production Costs Too High – Goodyear’s Rzonzef
Goodyear has been present in Turkey for half a century now, however the tiremaker hints it may need a little persuasion to maintain its production facilities there. In an interview with Istanbul-based daily Hürriyet, Goodyear’s EMEA Commercial Business Unit vice president Michel Rzonzef said the cost of tire production in Turkey is too high despite
Lower NR Costs Aim of Direct Contract
A direct pay contract signed between Russian corporation Tatneft and Thai Eastern Rubber is hoped to reduce the procurement costs associated with raw materials for tires. The agreement was signed following a Thai Eastern Group delegation visit to the Nizhnekamsk SSC tire plant and Kama Research and Technology Center in Russia; this visit and meeting
Analysts: Tiremakers to Benefit from Price Increases, Lower Rubber Costs
In their daily automotive sector report, analysts at Deutsche Bank observe that while most tire companies budget a natural rubber price of US$5 per kilogram for 2011, the current price for the commodity is, at $4.20 per kilogram, 15% below this planned-for figure. As natural rubber purchasing costs account for between 13% and 18% of
SR Costs Set To Rise as NR Prices Soar
(From SA Treads) – 2011 could well turn out to be the most challenging year yet, at least where the tire business is concerned. Amid rumors of one or possibly even two more new tire price hikes before the year is through, consumers justly have cause for concern. Largely driving this trend is escalating raw
Toolmaker Taking Steps to Deal With Costs
As with tiremakers, Bosch is also facing a run-up in raw material costs, but the toolmaker said it is doing all it can to avoid taking price hikes. "Like others in the aftermarket, we face challenges in the cost of commodity products as well as transport," said Odd Joergenrud, North American automotive aftermarket president for
Ceat Profits Fall on Increased Costs
Diminished profits are the order of the day in Ceat Ltd.’s audited financial results for the financial year ended Mar. 31. Performance in the final quarter impacted on the Indian manufacturer’s performance, and despite annual income growing 24.2% to Rs 35163.3 million, annual net profit plummeted from Rs 1610.3 million at the end of 2010
U.S. Vehicle Ownership Costs Grow 3.4%
According to AAA’s annual "Your Driving Costs" study, the yearly cost to own and operate a sedan in the U.S. has risen 3.4%, with increases in gas prices, tire and depreciation costs largely to blame. The average costs rose 1.9 cents per mile to 58.5 cents per mile, or $8,776 per year, based upon 15,000
Out of Control Costs Leave Little-to-Wrangle Higher Tire Prices
At TIA’s annual OTR Conference a few weeks ago, Shawn Rasey, president of Bridgestone Americas’ OTR unit, delivered some sobering news. Painfully sobering to thousands of tire dealers of all denominations in all places – everywhere. "As I speak to you this morning," Rasey said, "the price of natural rubber has risen 92% in just
With Fuel Costs on the Rise, Tires Play Important Role For Fleets
With diesel prices continuing to escalate to close to $4 per gallon this month, this is a great opportunity to talk about the impact of tires on fuel economy. The unrest in the Middle East is not going to end any time soon. Diesel prices will only get worse as we head into the spring