Pandemic Contracts Tire Industry Q2 Sales, M&A Activity
Mergers and acquisitions activity has been hamstrung due to the pandemic, with a rebound expected in the fourth quarter.
Yokohama Rubber H1 2020: 20.6% Decline in Sales Revenue
Yokohama faced a downturn in unit sales volume and an upturn in unit costs associated with reduced production volume.
Toyo Tire Posts 15.7% Sales Decrease in Q2
Toyo said it is making structural changes and pursuing financial activities with a conservative financial forecast in mind.
AAPEX 2020 Will be Held Virtually
AAPEX will provide a virtual/digital experience with many of the show’s same elements presented digitally.
Apollo Tyres: Strategy of ‘Entrenchment’ for U.S. Market [Audio]
Despite COVID-19, 2020 has been a big year for several tire manufacturers, including Apollo Tyres. The Indian tiremaker launched its Vredestein brand in North America last year, and has already released two tires specifically designed for the North American market in 2020. According to company executives, there’s much more to come. We spoke with executives
Apollo Tyres: Strategy of ‘Entrenchment’ for U.S. Market
We speak with Apollo Tyres’ executives about the company’s largest single investment in a new market in company history and its strategy to gain a foothold in the U.S. market.
Cooper Tire Reports 26.9% Drop in Sales in Q2 Report
The decrease was the result of $183 million of lower unit volume and $2 million of unfavorable foreign currency impact, which were partially offset by $29 million of favorable price and mix, said the company.
Goodyear Q2 Sales Drop 41%, Feeling COVID-19 Impact
Goodyear said declines in Q2 2020 sales and tire unit volumes were driven by lower industry volume and reduced sales from other tire-related businesses.
Monro Reports Ongoing COVID-19 Challenges in Q1 Results
Despite COVID-19 challenges, Monro will continue with its M&A strategy and gradually pick up its store rebrand and reimage initiative in Q2 of fiscal year 2021.
Michelin Optimistic in H1 2020 Report Despite Sales Dip
Worldwide, the Michelin Group said its OE and replacement PLT tire sales contracted by 24% in number of tires sold in the first half of 2020.
GRI Explains Sustainability Efforts Post-COVID-19
The company says sourcing, production and disposal are key to its sustainability goals.
Average Age of Cars, Light Trucks Approaches 12 Years
Research from IHS Markit shows COVID-19 accelerating an already established trend on vehicle age.
