Tyre News in Numbers – February 2024

Tyres & Accessories’ monthly ‘Tyres News in Numbers’ column boils down the latest tyre industry news to the most important statistics of the month. This month we look at the big numbers from the February 2024 magazine.

800 billion yen

Amount of money – equivalent to around £4.25 billion – Bridgestone has pledged to invest in enhancing its electric vehicle tyres, mining tyres, and decarbonisation technologies between 2024 and 2026

4,500

The number of organisations involved in the UK government’s Department for Transport MOT consultation on the possibility of extending the intervals between tests

1 million tracks

Future capacity of ZC Rubber subsidiary Yonggu following the establishment of a new facility on the site of the former Hangzhou Taihong Rubber Track plant in Jiande

2.4 million tyres

New owner S8 Capital’s capacity target for the former Bridgestone factory in Ulyanovsk, Russia by 2025

More than 160

The number of staff providing year-round service to more than two million fleet vehicles at Kwik Fit’s new national Fleet Customer Support Centre just outside Glasgow

7,000 hours

Operation time of the Michelin XMCL tyres fitted to Yorkshire farmer T Grange & Son’s Claas Scorpion telehandler over the last 13 years

Nearly 1,000 branches

Size of the Point S network in France following the tyre retail and auto maintenance network’s acquisition of the 49-branch Etape Auto network

More than 300%

The growth in estimated net profit (between 1.35 and 1.61 billion yuan) for 2023 versus 2022 announced by Linglong

Circa $20 million

The year-one total remuneration package of new Goodyear CEO Mark Stewart, according to Tyres & Accessories estimates

$1.25 million

The “cash retention award” granted to the Goodyear Tire & Rubber Company’s executive vice president and chief financial officer, Christina L Zamarro by the board’s compensation committee

7,100

The number of giant OTR tyres (rim diameters of between 49” and 63”) produced by Chinese tyre manufacturer Haian Group in the first half of 2023; it manufactured 10,400 in 2022

90% sustainable materials

Toyo Tire’s sustainable concept tyre presented at Tokyo Auto Salon in January 2024

6 million car tyres

The first-phase capacity of Wanli Tire’s Guangzhou tyre factory, which commenced construction at the beginning of 2024 – it will target 12 million tyres at the end of its third phase

$17.35 billion

The expected valuation of the global tyre-cutting machine market by 2034, a figure more than 15 times 2024 expectations, according to Future Market Insights

5m PCR, 900k TBR

The first-phase capacity target of Jiangsu General’s Cambodian factory project, due for completion in the first half of 2024

$1 billion

Total Chinese investment in tyre and rubber production secured by Cambodia, according to its development council