![Toyo joins ETRMA](https://www.tyrepress.com/wp-content/uploads/2023/11/Kenta-Kuribayashi.jpg)
Toyo joins ETRMA
ETRMA Members formally approved the application of Toyo Tires to become a full Member of the Association as of 1 January 2024 during ETRMA’s 9 November board meeting.
Continue Reading![Pirelli expands Bari Digital Solutions centre](https://www.tyrepress.com/wp-content/uploads/2023/11/Foto-Pirelli-Digital-Solutions-Center.jpg)
Pirelli expands Bari Digital Solutions centre
A years after opening Pirelli’s Digital Solutions Center in Bari is celebrating its first year of activity increasing its workforce to 80, up from the planned headcount of 50. Currently, Pirelli’s digital centre, which is run as a public-private-academic partnership totals 30 employees, mainly from the Apulia region. So far, Pirelli has invested about 4.5 million of the 9 million euros originally earmarked for the project up to 2024, part of which will be financed by the Apulia region.
Continue Reading![Goodyear EMEA: Transforming the organisation, optimising manufacturing and focusing the brand portfolio](https://www.tyrepress.com/wp-content/uploads/2023/11/2016_11_14_DSC_7058-portraitl-scaled-e1699968209409.jpg)
Goodyear EMEA: Transforming the organisation, optimising manufacturing and focusing the brand portfolio
Repeated loss-making quarterly results paired with global cost-cutting and headcount-reduction efforts throughout 2023 mean Goodyear has, understandably, received more attention than usual. Most of this has come from our own research, in response to third-party action – such as Elliott’s now-infamous letter – and off the back of the aforementioned financial results. Since all of the above reasons for writing about Goodyear particularly impact Europe, in mid-October Tyres & Accessories visited the Goodyear EMEA headquarters in Brussels, Belgium, to hear more about exactly how executives are leading the business through its current tumultuous times. The group of executives Tyres & Accessories met with specifically included David Anckaert, Goodyear EMEA vice-president, consumer; and Troy Scully, vice president, communications and public affairs EMEA. Not only does such an opportunity give Goodyear the right-to-reply, it also provides additional insights into the company’s current “transformation” plans. Indeed, that is where our discussion began, with David Anckaert explaining what is meant by transformation in EMEA.
Continue Reading![Astutus Research produces new Vehicle Kilometres Travelled in Europe analysis](https://www.tyrepress.com/wp-content/uploads/2023/11/Vehicle-Kilometres-Travelled-in-Europe.png)
Astutus Research produces new Vehicle Kilometres Travelled in Europe analysis
Tyre industry data analyst Astutus Research has produced a new analysis of vehicle kilometres travelled (VKMT) in 26 European markets. This metric is a key figure in determining tyre sell-out volumes, though the data can often be untimely or inaccurate data. With its new reports, which can be tailored to particular requirements, Astutus says it can offer up-to-date analysis of VKMT, with more than 20 years of historic data [from 2000], and forecasts to 2028, within the passenger car and light commercial vehicle segments. More information can be found in the Tyrepress Report Shop. Several analyses of global tyre markets are available now on Tyrepress.
Continue Reading![7 tyre brands honoured at Asia Brand Summit 2023](https://www.tyrepress.com/wp-content/uploads/2023/11/banner.jpg)
7 tyre brands honoured at Asia Brand Summit 2023
At the end of September, the list of Asias most influential brands of 2023 was published at the “Asia Brand Summit” in Hong Kong. A total of 500 brands from 20 countries and regions, were honoured at the 18th World Brand Lab summit themed “The Impact of New Technologies on Brand Transformation and Consumer Behavior.” Seven of them were tyre brands and all seven were ranked amongst the top 350 of the 500 honoured brands.
Continue Reading![First pyrolysis oil made in Pyrum’s expanded plant](https://www.tyrepress.com/wp-content/uploads/2023/11/Pyrum-plant.jpg)
First pyrolysis oil made in Pyrum’s expanded plant
Pyrum Innovations has produced the first batch of pyrolysis oil in one of the two new reactors it has installed at its main facility in Germany. Although the Pyrum team has only made “small quantities” of oil so far, this marks a further step towards volume production.
Continue Reading![Michelin, Lilium sign eVTOL tyre agreement](https://www.tyrepress.com/wp-content/uploads/2023/11/Lilium_PioneerEdition_TakeOff-sml.jpg)
Michelin, Lilium sign eVTOL tyre agreement
German aerospace company Lilium is developing the world’s first all-electric vertical take-off and landing (eVTOL) jet, and Michelin has partnered to create tyres for the aircraft. Lilium and Michelin began working together more than a year ago to develop and produce custom tyres for the Lilium Jet and have now signed a final agreement covering design, serial production, and support.
Continue Reading![Bridgestone Q3 2023 financial results](https://www.tyrepress.com/wp-content/uploads/2023/10/Bridgestone-placeholder3.jpg)
Bridgestone Q3 2023 financial results
Bridgestone Corporation announced its financial results for the third quarter of 2023 earlier today, reporting year-to-date consolidated revenue of 3,198.1 billion yen (£17.26 billion, US$21.17 billion), a seven per cent year-on-year increase. Operating profit rose six per cent year-on-year in the first nine months of 2023, to 362.3 million yen (£1.76 billion, $2.16 billion). The operating profit margin declined 20bps, to 11.3 per cent.
Continue Reading![Kumho Tire – 3 years of “continuous operating losses”](https://www.tyrepress.com/wp-content/uploads/2023/11/kumho-admin-550x350-1.jpg)
Kumho Tire – 3 years of “continuous operating losses”
On 7 November, the Shanghai Stock Exchange published the 2023 credit rating report for Qingdao City Construction Investment (Group) Co Ltd. (Qingdao City Investment), the holding company of Qingdao Doublestar and Kumho Tire. Our sister publication Tyrepresschina.com has shared some of the key details contained within the report, which is dated June 2023.
Continue Reading![Sentury Tire: 1 million OE tyres & increased aviation business](https://www.tyrepress.com/wp-content/uploads/2023/11/Comac.jpg)
Sentury Tire: 1 million OE tyres & increased aviation business
During an earnings presentation held on 8 November, China’s Sentury Tire shared its expectation of selling more than one million original equipment tyres in 2023. The company added that it is focusing on “mid- to high-end” OEMs.
Continue Reading![Goodyear Farm Tires returns to Poland](https://www.tyrepress.com/wp-content/uploads/2023/11/Latex-Poland.jpg)
Goodyear Farm Tires returns to Poland
Polish tyre wholesaler Latex and its subsidiary Hurtopony have taken on distribution of the Goodyear Farm Tire range. The four main centres in Ruda Slaska, Opole, Bydgoszcz and Sosnowiec will supply tyres to the Latex national network.
Continue Reading![ChatGPT helping Hankook Tire to gain EV insights](https://www.tyrepress.com/wp-content/uploads/2023/11/Hankook-ChatGPT-sml.jpg)
ChatGPT helping Hankook Tire to gain EV insights
Why survey people when you can draw upon all the wisdom of the internet? Hankook Tire & Technology has turned to artificial intelligence to gain insights into consumer attitudes towards electric vehicles, developing a Voice of Customer (VOC) analysis system based upon ChatGPT for this purpose. The Korean firm collaborated with data cloud computing companies Amazon Web Services and Snowflake to build an integrated VOC data analysis system.
Continue Reading![Bridgestone debuts algorithm-based mining solution](https://www.tyrepress.com/wp-content/uploads/2023/11/Bridgestone-Mining.jpg)
Bridgestone debuts algorithm-based mining solution
Bridgestone Corporation has introduced a new mining solution service that uses a proprietary, Bridgestone-developed algorithm to estimate tyre durability. It first introduced this offering in July 2023 to the BHP Group’s Spence copper mine (Pampa Norte operation) in Chile, which also uses the service to propose the optimal timing for tyre timing as well as driving routes for the mine.
Continue Reading![Continental lifts Tires EBIT margin for 2023](https://www.tyrepress.com/wp-content/uploads/2023/11/Continental-placeholder-sml.jpg)
Continental lifts Tires EBIT margin for 2023
Continental has published its financial results for the three months to 30 September with the comment that Q3 2023 concluded “in line with expectations.” For the Tires group sector, the expectation was thus lower sales but an improved earnings position.
Continue Reading![Black Donuts – Europe a ‘unique opportunity’ for Chinese tyre makers](https://www.tyrepress.com/wp-content/uploads/2023/11/Black-Donuts-conference-sml.jpg)
Black Donuts – Europe a ‘unique opportunity’ for Chinese tyre makers
At a conference hosted by VMI Group in Yantai, China last month, the chief executive officer of Black Donuts spoke on why he believes Europe to be an “underutilised opportunity for tyre companies.” Kai Hauvala also shared insights on why Black Donuts believes the European market is an excellent opportunity for foreign tyre manufacturers and why Chinese tyre businesses should consider the region as their next big step.
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