Moody’s: US auto parts tariffs credit negative for suppliers
The US imposing tariffs on imported vehicles and auto parts would be broadly credit negative for parts manufacturers that are part of a global supply chain, Moodys Investors Service says in a new report. Even so, the financial impact to the auto industry stemming from the proposed tariffs -- contemplated at up to 25 per cent for imported vehicles and parts -- will mainly depend on the extent to which auto parts suppliers operations are spread out through the world and their products imported back to the US.
Continue ReadingPhilip White Tyres appoints Marcus White as UK & EU sales manager
Marcus White has joined the Philip White Tyres Group (PWT) in the role of UK & EU sales manager. White is tasked with developing awareness and interest in Sunwide, a PWT-exclusive “value” brand of car, van, and SUV tyres, as well as a network of significant tyre dealers and regional wholesalers who can take Sunwide tyres direct by the container, the company states.
Continue ReadingNational to unveil full aftermarket proposition at Automechanika Frankfurt
National Auto Parts will be exhibiting at Automechanika Frankfurt, showcasing its full product range on Stand D82 in Hall 5.1, taking place at Messe Frankfurt on 11-15 September 2018.
Continue ReadingDelticom: Income significantly up in H1 2018
During the first half of 2018, online tyre retailer Delticom achieved revenues of 290.5 million euros, a year-on-year decrease of 2.2 per cent. EBITDA rose 36.0 per cent to 6.8 million euros and the margin increased from 1.7 per cent to 2.3 per cent. EBIT was up 16.2 per cent year-on-year to 3.2 million euros and net income increased 150.0 per cent to 2.0 million euros
Continue ReadingNewest Goodyear blimp to be ‘christened’ on 30 August
Goodyear Tire & Rubber has selected Shaesta Waiz, the youngest woman to fly solo around the world in a single-engine aircraft, to christen Wingfoot Three. The ceremony for this latest addition to the Goodyear blimp fleet will be held on 30 August at Goodyear’s Wingfoot Lake Hangar.
Continue ReadingToyo Tires’ tyre business improves in H1 2018, results muted by ‘dampner scandal’
For Toyo Tire & Rubber, the first half of 2018 was a period of mixed fortunes. The manufacturer reports that turnover and earnings within its core tyre business increased 3.9 per cent during the six months to 30 June, with sales of 160,046 million yen (£1.1 billion) and operating income of 22,669 million yen (£160.8 million) resulting in a slightly improved profit margin of 14.2 per cent. Overall sales were down 3.3 per cent, to 185,738 million yen (£1.3 billion), due to decreased turnover within the company’s automotive parts business.
Continue ReadingCPS Drivelink signs up to PACT electronic trading
CPS Drivelink has become the latest automotive business to embrace electronic trading with parts distributors in the automotive aftermarket.
Continue ReadingPirelli and Prada sponsor Luna Rossa’s new America’s Cup challenge
Pirelli has signed an agreement with Luna Rossa Challenge for the constitution of a partnership aimed at the development of a multi-year project which will lead to Luna Rossa’s participation in the next edition of the America’s Cup, set for New Zealand in 2021. Pirelli and Prada will be co-titled sponsors of the vessel and will detail their plans at a soon-to-be-organised event.
Continue ReadingElectric vehicle battery industry could be worth £2.7 billion for UK chemical companies
A report published by E4TechA shows that UK companies are well-placed to supply valuable materials needed for batteries to be built in UK, representing a potential £2.7 billion per year business opportunity. The report was commissioned by Warwick Manufacturing Group (WMG) at the University of Warwick, was launched to the Chemical Industry Association at the Chemistry Growth Partnership meeting in London, chaired by Steve Foots, chief executive of Croda, and attended by Richard Harrington MP.
Continue ReadingMRF more than doubles profit in Q1 2018-19
In spite of lower year-on-year sales, MRF Ltd. more than doubled its net profit in the three months to 30 June 2018.
Continue ReadingBickers helps dealers power up their battery knowledge
Lead-acid battery units have been the technology of choice for automotive SLI (Starting, Lighting and Ignition) applications for the past 150 years. Thanks to their long development process, they have gained trust among consumers. Their popularity also stems from a high tolerance to abuse and overcharging, as well as a low-price tag and a wide diversity of sizes and capacities available.
Continue ReadingBatteries landscape changing – Ecobat
Figures released by Ecobat Battery Technologies’ (EBT) long term battery partner, Varta, almost 90 per cent of the cars manufactured this year will feature start-stop technology, meaning that more than 30 per cent of all vehicles entering the independent workshop will be equipped with this feature by 2020. These vehicles use batteries specifically designed for these systems, without which they will malfunction and potentially fail.
Continue Readinge-jobsheet passes 1,000 subscribers in the UK
CAM International has marked a new milestone for its open-access, digital tablet-based service work platform for truck, bus and van, e-jobsheet, as 1,000 integrated and standalone subscribers are now linked to the TiDaeX online hub.
Continue ReadingPlatinum – Bridgestone tyre plant gains top Caterpillar certification
Caterpillar has awarded the Bridgestone Americas agricultural tyre plant in Des Moines, USA the highest level in the Caterpillar Supplier Quality Excellence Process (SQEP) certification – Platinum Level for a second consecutive year. These back-to-back platinum awards follow three years of Gold Level SQEP certifications. Bridgestone Americas says receiving the latest Platinum Level certification “represents a significant milestone” for Bridgestone and the Firestone agricultural tyre team.
Continue ReadingNokian Tyres increases sales, profits
Sales and profits headed in the right direction for Nokian Tyres in the second quarter and first half of 2018. The Finnish tyre maker reports a 6.4 per cent increase in net sales, to 429.1 million euros, in the six months to 30 June. Operating profit during this period rose 10.7 per cent year-on-year to 169.3 million euros and the operating margin reached 22.1 per cent (21.3 per cent in H1 2017). Profit for the period amounted to 134.1 million euros, 15.2 per cent higher than a year ago, and earnings per share rose to 0.97 euros.
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