Three Things to Keep Your Eye on in the New Year

Three Things to Keep Your Eye on in the New Year

Let’s face it: it’s harder to be an independent tire dealer today than in years past. That’s what longtime tire dealers we talk to—not only in interviews but also at ride-n-drives, on Johnny g & Friends and in What’s Treading episodes—tell us. From supply challenges to expanding tire sizes, the business has gotten complicated. And more change is on the way. As a new year approaches, ask yourself: How are you adapting to the choppy waves of change? 

Being agile and navigating the market was one theme that came across in my conversations with tire manufacturers during the 2022 SEMA Show. Since the COVID shutdowns, tire makers, distributors and dealers have been through the wringer, trying to figure out supply and demand signals and respond to market trends. Some other changes that tire execs have on their radar include:

Right to Repair: This issue has been around since the early 2010s, but it essentially gives consumers the right to choose who has access to their vehicle’s data. During Tire Industry Association (TIA) events and AAPEX Show sessions, right to repair, which would now require automakers to give independent repair shops access to a vehicle’s telematics data, was a hot-button issue. Roy Littlefield IV, TIA’s vice president of government affairs, delved into where this issue stands on a recent episode of our podcast, What’s Treading. Get the latest update on pg. 26. The Auto Care Association also dived deep into this issue with Tire Review Senior Editor David Sickels for a special episode of our podcast, What’s Treading – Take a listen.

Electric Vehicles: Talk about buzzwords. Trust me, I don’t want to fall into that trap, but almost everyone has some sort of EV question on their mind. Tire manufacturers, they’re adapting (there’s that word again) to the high torque and greater weight these vehicles have that will impact tire wear, among other aspects of the tire. This year, TIA started an EV Advisory Council to develop best practices for servicing EVs. Tire Review’s Associate Editor Christian Hinton wrote about some of those best practices in a recent story on tirereview.com. Take a look here.

Consolidation: This one’s the elephant in the room. Sure, the big guys are getting bigger, and more private equity has found our industry attractive. But it also leaves you an opportunity to capitalize on what endears your independent tire business to your community. Steven Rathbone, managing director of the investment banking group at Stout, and Phillip Kane, tire industry veteran and consultant as well as the new CEO of Turbo Wholesale Tires, will give you a better picture of the M&A landscape in the tire industry on pg. 10. 

What you need to know about industry trends and what to expect for 2023 are in the pages of the newest issue and so much more is on our website–from Michelin’s take on the commercial tire business to Yokohama’s view on the OTR sector and country profiles on China and Indonesia. These thought-leadership articles can help inform your business decisions for next year and prompt you to reflect on the changes you’d like to make to your business. 

Remember the earlier question: How are you adapting to change? Open your Notes app on your phone–hell, do it right now– and jot down a few ideas of how you’ll adapt to change, use data to make your business better and make the most of this latest wave of changes in our industry. Here’s to your success in 2023!

You May Also Like

The Benefits of Continuous Learning in the Tire Industry

The first step in any successful training program is to identify what’s important for your staff to learn.

training-shop

As you have likely experienced firsthand, the past few years have seen rapid changes in the tire industry. Supply chain delays, labor constraints and the shift to electrification—among countless other macro challenges—are constantly requiring dealers to reevaluate their business strategies and operations to adjust to the current environment. It’s critical that flexibility and resiliency remain top-of-mind as dealers navigate these obstacles. One way to remain agile is fostering a culture of learning and development for your staff. At ATD, we’ve found that integrating technology, insights and data analytics into our reskilling and training programs is helping to create sustainable solutions. By understanding the importance of training and how to build an effective program, you, too, can take advantage of the many benefits for both you and your business.

AI & Your Tire Shop: Using it to Your Advantage

AI could revolutionize the tire industry. It’s time to adapt and invest for success.

AI Stock image
Adopting a Solutions-First Mindset

The latest digital edition of Tire Review delves into shop solutions for business issues.

software-solutions-stock
A Focus on People Defines Today’s Top Shops

For the past few years in the tire industry, there has been a keen focus on people– keeping people on your staff happy, attracting new ones to your business, finding ways to challenge tenured employees…the list goes on. In fact, tire dealers like you are getting pretty innovative in ways they’re working with their staff

Editors-Notebook-September-1400
Look Inside Lamborghini’s VIP Lounge in NYC and Drive a Urus with Us

During a recent ride-and-drive with Pirelli, the tiremaker showcased its relationship with Lamborghini with a stop at the prestige OEM’s Lamborghini Lounge, a no-frills building tucked inside New York City’s Chelsea District. Inside, it’s where discerning soon-to-be Lamborghini owners can go and customize their vehicles (namely, the Huracán and Aventador) as part of the carmaker’s

Lamborghini Lounge vehicle personalized

Other Posts

MatraX Tyres on navigating the diverse needs of the U.S. marketplace

We talk about how MatraX Tyres is adapting its products for U.S. customers and the challenges associated with U.S. distribution.

WT-YT-matraXtire-1400
EV tire satisfaction gap widens as wear rates increase, J.D. Power study finds

The J.D. Power study shows that EV owners have similar expectations of tire wear as owners of gas-powered vehicles do.

How to maximize your scan tools’ full potential

Get the most out of your tools so they aren’t just expensive code readers.

TR-Continental-scan tool
Continental Tire introduces six new/refreshed tire products during 2024 GOLD dealer meeting

Company leadership also detailed updates to marketing/incentive programs.

Conti-welcome-logo-outside-1400