Consumer Reports: Americans Say Fuel Economy Most Important Car-Buying Factor
With fuel prices at near-record levels, consumers are driving less and contemplating a move to smaller, more fuel-efficient vehicles, according to recent survey by Consumer Reports. The survey found that 37% said their leading consideration when shopping for their next car will be fuel economy. A distant second was quality (17%) followed by safety (16%),
Reports Confirmed: Itochu is New Owner of Kwik-Fit
Kwik-Fit Group has confirmed earlier reports that PAI Partners has sold the fast fit chain to the Japanese Itochu Corp. for £637 million. The purchase price is said to include £457 million of debt, which will be paid off in full at completion, according to a Financial Times report. The deal is reportedly Itochu’s biggest
Monro Muffler Brake Reports Record Quarter
Monro Muffler Brake has announced record financial results for its third quarter ended Dec. 25, 2010. Sales for the third quarter of fiscal 2011 increased 8.4% to a record $165.5 million, compared to $152.7 million for the third quarter of fiscal 2010. The company said sales growth was driven by strong same-store sales and from
Tire Dealer Financials: Tracking Your Key to Success
Virtually all tire dealers have a business plan that they revise periodically – and if they don’t, they should. Part of that business plan should be a comprehensive financial plan, one that is easy to review and will tell you what you need to know to be profitable. Whether you’re an industry veteran or are
Shandong Linglong Reports Being Top Chinese Exporter in 2009
Using statistics gathered by the tire branch of the China Rubber Industry Association, Shandong Linglong reports the value of its export deliveries reached RMB 4.139 billion (£394.4 million, $606.5 million) in 2009 on the back of an export delivery volume of 12.969 million units, giving the company an export income of more than US$600 million
Kumho Management Sought by Daewoo: Reports
Financial investors in Daewoo Engineering & Construction (E&C) are vying to take over the management of Kumho Industrial and other key units of the troubled Kumho Asiana Group with an investment of 2.5 trillion won in fresh capital, according to a report by the Korea Times. But both Kumho Group and creditor banks dismissed the
2009: Onliner Delticom Reports 20% Revenue Increase
Hanover-based Delticom AG has released preliminary 2009 financial results that show group revenue totaled 310 million euros, compared with 259 million euros in 2008. The growth realized (+20%) was twice as strong as expected. Last year, 800,000 customers purchased tires for the first time in one of the company’s number of online shops, which includes
Venezuela Devaluation Impacts Goodyear Financials
Goodyear said it will evaluate the impact of Venezuela’s changes to its exchange structure, but expects to book a charge in the first quarter of this year due to currency devaluation. On Jan. 8, the Venezuelan government announced the devaluation of its currency and the establishment of a two-tier exchange structure for “essential” and “non-essential”
Continental AG Has Three Candidates for Chairman, FTD Reports
(Bloomberg) Continental AG has narrowed the candidates list for supervisory-board chairman to three outside executives, Financial Times Deutschland reported today, without saying where it got the information.
Opportunities Still Exist in Weaker Market, Reports Watts
When Tyres & Accessories spoke to Watts Tyre Group, it was only natural that the year we’ve just experienced – a particularly difficult period for the industrial tyre market – would be reflected upon.