Guizhou/Advance starts European company, TUV SUD TBR testing, car tyre range and talk of new tyre plant
Guizhou Tyre might not be the most familiar name in the business, but the Chinese tyre manufacturer – which is best known by its Advance and Samson brands – is working to change that with the establishment of a European organisation, TUV SUD testing its latest truck tyres, and there’s even talk of investment in a tyre factory outside China and car tyre production.
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World’s largest tyremakers 2024: Stable “balance of power” and ambitious manufacturers
Our latest “worlds largest tyremakers data based on the key figures for the 2023 financial year sheds light on several developments that have recently characterised the tyre market. On the one hand, there is the development of sales, which have at best moved sideways for many manufacturers compared to 2022. On the other hand, there is also the development in terms of ranking: here it is clear that companies from China are increasingly operating on an equal footing with the long-established manufacturers from Europe, America and Japan and now even have a new number 10 in the race with the Sailun Group. However, it is also clear that our ranking shows a stable balance of power overall.
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China’s top listed tyremakers in 2023: a large gap between the upper and lower echelons
2023 was a good year for many Chinese tyre manufacturers. Especially for listed tyre companies, benefiting from overseas markets and production capacity advantages, they can cope with market competition more calmly. Several Chinese tyre manufacturers report that they are undergoing IPOs in the past year, but no company has completed the main board listing. Therefore, the number of tyre companies analysed this time remains at 10, namely Sailun, Linglong, Triangle, Huayi (Double Coin), Aeolus, and Jiangsu General on the Shanghai Stock Exchange; Guizhou Tyre, Sentury and Doublestar on the Shenzhen Stock Exchange; and Prinx Chengshan on the Hong Kong Stock Exchange.
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Read and download Tyres & Accessories Magazine June 2024 now
Tyres & Accessories features the tyre retail sector and ultra-high performance tyres in the June 2024 issue, available as an e-paper for subscribers to Tyrepress. The issue also features a special report on the Chinese tyre industry from Shandong Province, as Tyres & Accessories and Chinese language sister website Tyrepress China visit the 14th GuangRao Rubber Tire and Automotive Accessory Exhibition. Non-subscribers can gain access to Tyrepress with a print or online subscription. Tyre professionals can take advantage of the current Tyrepress Membership offer, helping to drive business online and stay informed with the industry’s leading magazine and websites.
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Remember This? – Tyres & Accessories June 2024
Our monthly magazine column looks back at the biggest news events from the tyre industry five, 10, 15 and 20 years ago. This months edition looks back to June issues from 2004, 2009, 2014, and 2019 for some of the biggest tyre industry news of those months. Click the month and year to access the digital edition of the relevant issue of the magazine from Tyres & Accessories’ expanding digital archive.
Continue Reading Tyre News in Numbers – June 2024
Tyres & Accessories’ monthly Tyres News in Numbers’ column boils down the latest tyre industry news to the most important statistics of the month. Below, we look at the big numbers from the June 2024 magazine... 13.6 billion yuan: The revenue – equating to £1.476 billion or €1.732 billion – generated by China’s biggest online tyre retailer, Tuhu, which went public at the beginning of this year.
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Lapin Kumi and Colmec form joint tyre services group
The Finnish Lapin Kumi and Swedish Colmec tyre businesses are forming what they call “a new sustainable and customer centric tyre services group”. This step follows a similar move by fellow Swedish firms Centrala Gummi and Colmec earlier in the spring. The transaction is expected to close in the third quare 2024, subject to customary closing conditions.
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Michelin leading premium tyremakers in year-on-year share price performance
Michelin is leading the pack when it comes to share price performance amongst the top five tyremakers in the past year. Indeed, while other tyremakers have been experiencing falling stock prices, Compagnie Générale des Établissements Michelin recently passed above its two hundred day moving average. But when you compare the one-year share price performance of Michelin, Bridgestone, Goodyear, Continental and Pirelli, Michelin is the clear leader.
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Michelin share price beats 200-day moving average
While other tyremakers have been experiencing falling stock prices, Compagnie Générale des Établissements Michelin recently passed above its two hundred day moving average. On Monday 17 June, the stock surpassed its two hundred day moving average of €33.99 ($36.55) and traded as high as €38.04 ($40.90).
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Goodyear shares fall to 52-week low, but institutional investors are buying
Goodyear Tire & Rubber Company shares fell to a 52-week low during trading on Tuesday 18 June 2024. Specifically, the stock price fell as low as $11.24 having previously closed at $11.53. However, there is also evidence that institutional investors are increasingly interested in the tyremaker’s shares.
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Goodyear’s ‘largest-ever’ 24 Hours of Le Mans operation proves tyre performance in LMGT3 era
Goodyear ran its largest ever 24 Hours of Le Mans operation to demonstrate the long-distance performance of both its slick and wet tyres in the 2024 edition of the iconic endurance race. Mixed conditions throughout the race set the stage for a strategic battle in both the LMP2 and new LMGT3 classes. Goodyear supplied tyres for 39 cars across two classes, almost two-thirds of the entire grid at Le Mans, using 7,500 tyres, serviced by expert tyre fitters working in shifts throughout the race to remove, inspect and replace a set of tyres in as little as three minutes. In the pit lane, a crew of 18 track support engineers worked directly with each team throughout the race to advise on setup and strategy.
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Linglong’s Serbia tyre factory certified by well-known OEMs
In recent months, Linglong Serbia tyre factory has been certified by car manufacturers including: Nissan, Volkswagen, Audi, Ford, Stellantis group, Hyundai and Kia as well as the truck manufacturer MAN and approved for the production of original equipment tyres – an essential prerequisite for the production of tyres specified for delivery to automobile manufacturers.
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Spanish automotive suppliers break 40-billion-euro milestone in 2023
The Spanish automotive supplier sector billed 41,529 million euros in Spain during 2023, a 10.3 per cent increase over 2022. This represents a milestone in the local industry, breaking the 40 billion euro barrier for the first time.
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Neste, Borealis and Covestro partner to recycle tyres into auto parts
Neste, Borealis and Covestro have signed a project agreement to enable the recycling of used tyres into plastics for automotive applications. In order to “drive circularity in plastics value chains”, when no longer fit for use, the process sees tyre liquefied by means of chemical recycling and then processed into base chemicals and further into polycarbonates of high purity. Applications include parts from headlamps to radiator grilles.
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JK Tyre gains ISCC Plus Certification for its Chennai plant
JK Tyre & Industries reports that it has become the first tyremaker in India to receive the prestigious International Sustainability and Carbon Certification (ISCC) Plus for its Chennai plant. Achieving ISCC Plus certification requires compliance with numerous criteria, including the traceability of raw materials, adherence to environmental regulations, preservation of ecosystems, upholding labour and human rights, and promoting sustainable economic development. The final audit for this certification was conducted by the Indian counterpart of the certification body based in Kolkata.
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