BKT reports healthy rise in profit for H1 2025
Balkrishna Industries Ltd. (BKT) has announced its financial results for the second quarter and first half of FY2025, demonstrating significant year-on-year growth in sales volume, revenue, and profitability.
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Goodyear shares results of 2024 Sustainable Reality survey
Goodyear has completed its fourth annual Sustainable Reality survey, drawing on insights from over 1,700 transport fleets across Europe regarding their sustainability strategies, challenges, and forward-looking goals. With transport operators facing growing demands to reconcile high performance with environmental responsibility, this year’s survey provides a perspective on trends and concerns shaping fleet management in 2024.
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Prinx Chengshan tyres now EUDR-ready
From the start of September 2024, tyre maker Prinx Chengshan has switched to exclusively using EUDR-ready natural rubber. This changeover occurred several months ahead of the European Union’s official deadline of 30 December 2024 and ensures that Prinx Chengshan complies with all regional requirements.
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Hankook becomes an official sponsor of the Ballon dʼOr
Hankook is supporting this year’s Ballon d’Or award ceremony as an official sponsor. The Ballon d’Or is the most coveted recognition of outstanding performance and exceptional talent of male and female football players around the world. The 68th award ceremony will take place in the Théâtre du Châtelet in the heart of the French capital, Paris, on 28 October 2024.
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Kumho Tyre UK supporting Tyre Safety Month
Kumho Tyre UK has voiced its support for the TyreSafe Tyre Safety Month 2024 campaign. The road safety charity’s efforts to promote awareness amongst motorists of the importance of tyre safety through this year’s ‘Caught in the ACT’ campaign are aligned with those of Kumho.
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Accuride files Chapter 11
In the USA, Accuride Corporation and “certain of its U.S. and Canadian affiliates” has filed a voluntary Chapter 11 petition and commenced proceedings in Canada under the Companies’ Creditors Arrangement Act. Restructuring is expected to be completed in 90-100 days. “All plants continue to operate”, according to the wheelmaker. Accuride’s Mexican, European, and Asian subsidiaries are not included in the filings.
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Michelin sales drop, guidance down, results supported by replacement car tyre demand
Compagnie Générale des Établissements Michelin has reported that group sales fell to 20.171 billion euros in the first nine months of 2024, down 4.6 per cent compared with the same period in 2023. Within that group figure, Michelin’s Specialty tyre business was hit hardest, with sales down 9.1 per cent in the period to 4.882 billion euros (2023: 5.368 billion euros). At the other end of the spectrum, the Automotive segment – car tyre sales – was least affected by the overall decrease in turnover, with nine-month sales down 2.4 per cent to 10.356 billion euros (2023: 10.611 billion euros).
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ATD up for sale as large US tyre wholesaler enters bankruptcy proceedings
American Tire Distributors, Inc. (ATD) has filed Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware in parallel with entering a restructuring support agreement (RSA) with lenders representing approximately 90 per cent its outstanding obligations. At the same time, the firm reported that it is “contemplat[ing] transitioning ownership of the company through a competitive sale process”.
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Xingda wins 2024 Pirelli Supplier Award
At the Pirelli Supplier Day 2024, held in Milan, Italy, Xingda, the metal reinforcements manufacturer from China, won a Supplier Award in Excellence. This is the third time that Xingda has won a Pirelli prize for suppliers.
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Linglong increases profit in first three quarters
Linglong reports net profit attributable to shareholders in the first three quarters was between 1.65 billion yuan (about £179 million; €215 million) and 1.75 billion yuan (about £190 million; €228 million). At the same time, the tyre manufacturer said it actively upgraded its products in 2024 and continued to make structural adjustments in the domestic and foreign retail and OE markets. In addition, the company’s second overseas base (its Serbia factory) has gradually released production capacity to support production and sales growth in overseas markets.
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Michelin building car tyre plant in India
Last month, Michelin laid the foundation stone for a new passenger vehicle tyre production facility at its Tiruvallur plant in India. The tyre maker is investing Rs 5.64 billion (£51.62 million) to expand the Tamil Nadu site, which opened as a truck and bus plant in 2013.
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Halfords sales go flat: Autocentres still supporting group, but tyre sales down
Halfords Group’s like-for-like sales during the first six months of 2025 were flat (-0.1%). Those figures compare with a strong period the year before where first-half 2024 like-for-like sales grew 8.3 per cent. Writing in a trading update for the 26 weeks to 27 September 2024 and published 22 October 2024, essentially the company’s first-half 2025 figures, executives shared how their “controlling the controllables” plan is on-track. However, financial analysts noted that “consumers are still cautious” and that Halfords’ group’s in-line results are due to cost-savings rather than revenue growth.
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Stamford Tyres mourns death of Wee Kok Wah
The Board of Directors and management team of Stamford Tyres Corporation Limited has announced the death of Wee Kok Wah, the driving force that transformed the company from small tyre shop and retreader to global tyre and wheel distributor. Mr Wee passed away peacefully late on 21 October 2024, aged 78.
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Guizhou Tyre can produce 57-inch tyres
In the first half of 2024, Guizhou Tyre’s revenue and net profit were 5.174 billion yuan (about £560 million; €670 million) and 427 million yuan (about £46 million; €55 million), up 16.51 per cent and 25.67 per cent year-on-year. During the reporting period, the company produced 4.7942 million tyres, up 18.81 per cent year-on-year, and sold 4.7175 million tyres, up 19.75 per cent.
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Brembo buys suspension manufacturer Öhlins
Less than three weeks after Brembo sold its Pirelli shareholding, the well-known brake manufacturer has announced that it has bought Sweden-based suspension firm Öhlins for $405 million, (about 370 million euros), paid using available cash”. The deal is the largest acquisition in Brembo’s history.
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