ETRMA publishes #TRACTION4CHANGE Manifesto
The European Tyre and Rubber Manufacturers’ Association (ETRMA) has released its Manifesto for the legislative period of 2024-2029, titled “#TRACTION4CHANGE: A shared agenda for a competitive, secure, and inclusive Europe.” This manifesto advocates for strategic initiatives aimed at bolstering the industrial competitiveness of the sector while emphasising its crucial role in advancing zero-emission mobility, circularity, and sustainability.
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Falken adjusting prices from 1 June
Falken Tyre Europe shares that it will “implement structural price adjustments across Europe” from 1 June 2024. These changes affect the Falken and Sumitomo tyre brands in different product segments. The company has shared no details regarding specific price adjustments.
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8 in a row: Maxxis a GM Supplier of the Year, again
Maxxis is a GM Supplier of the Year for an eighth consecutive year. GM recognised the tyre maker at an event honouring the company’s top global suppliers for 2023.
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Michelin partnering in nanofibrous material research
On 15 April, Michelin, the CNRS, and the University of Strasbourg inaugurated the SpinLab associated research laboratory. This Strasbourg-based endeavour is dedicated to the study of the electrospinning process for the optimal production of nanofibrous materials. Over four years, these teams will collaborate to develop an innovative electrospinning platform, with the aim of creating novel and distinctive fibrous materials tailored for diverse applications, including tyres.
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Living wage, benefits & learning opportunities for Michelin employees
Michelin has introduced a number of measures aimed at fostering “social and societal cohesion.” The company intends to guarantee all Michelin employees worldwide a ‘living wage’ and ‘universal social protection floor’. It is also implementing what it calls a ‘lifelong learning approach’.
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Goodyear begins Drive Results Tour 2024
In order to provide fleet operators an opportunity to gain experience about its end-to-end offering, Goodyear is fielding both its flagship mobile showroom truck as well as a fleet of Drive Results Vans as part of the Drive Results Tour 2024. During the tour, Goodyear says its experts will provide tangible examples of how Goodyear Total Mobility suite of products, solutions, and services can maximise efficiency, competitiveness, and sustainability for fleets.
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Yokohama breaks ground on new Mexico tyre plant
On 15 April The Yokohama Rubber Co. Ltd. (YRC) broke ground for its new consumer/light truck tyre plant at the Alianza Industrial Park in Saltillo, Coahuila, Mexico. The event was attended by state and local officials, as well as management from Yokohama companies, including YRC chairman and CEO Masataka Yamishi; Yokohama Corporation North America (YCNA) CEO Shinichi Takimoto; and Yokohama Tire Corporation (YTC) president and CEO Jeff Barna.
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Torque Tyres TBR range now 100% made in Vietnam
The entire Torque Tyres truck and bus radial tyre portfolio is now being manufactured in Vietnam. Announcing the shift of TBR production to this location, Torque Tyres states that the change will benefit members of the Torque Dealer Network by “making products more affordable while maintaining the same high standards of quality” that partners have grown to expect over the past ten years.
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Michelin to end truck tyremaking at Olsztyn, Poland plant
Michelin is set to transfer the truck tyre production capacity it currently operates at its Olsztyn, Poland factory to Romania. Currently, 430 people work in the Olsztyn, Poland factory truck tyre production operation.
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Yokohama OE on Toyota Crown RS “Landscape”
The Yokohama Rubber Co. Ltd. is supplying 245/60R18 109H Geolandar A/T G015 tyres as original equipment (OE) for the new Toyota Crown RS Crossover “Landscape”, a special edition of Crown vehicle. The new vehicle was launched in April 2024 in Japan.
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Trelleborg and Mitas raise prices by up 5%
Both the Trelleborg and Mitas brands are set to raise prices by up to 5 per cent across all segments. The price increases are set to take effect from May 2024. According to the brands, specific details regarding the actual price change will be communicated directly to customers by representatives in each market.
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Nexen Tire wins Red Dot Design Award 2024
Nexen Tire has won the Red Dot Design Award in the product category. The prize was awarded to the tyre manufacturer for the NFera Sport S tyre.
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Yokohama sponsors ATP Tennis Tour
The Yokohama Rubber Co. Ltd. a Gold Partner of the Association of Tennis Professionals (ATP), the global governing body of men’s professional tennis. Indeed, Yokohama is now the ATP Tour’s first Official Tire Partner.
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A strange way of price-fixing
At the end of January, the European Commission (EC) announced that it is had begun conducting “unannounced inspections” – commonly known as dawn raids – at the European offices of the world’s leading tyremakers. The investigation intends to find out whether or not “the inspected companies may have violated EU antitrust rules that prohibit cartels and restrictive business practices”. In the days immediately after that news broke, it quickly became apparent that (in alphabetical order) Bridgestone, Continental, Goodyear, Michelin, Nokian and Pirelli all received those visits. All the above companies issued statements denying the allegations and confirming that they are cooperation with the authorities. The EC’s announcement was short on detail and the investigated tyremakers are being understandably tight-lipped about the whole thing, which leaves significant questions about what the grounds for such an investigation were in the first place.
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Pirelli financial performance the strongest of European premium tyre brands – analysts
Initiating detailed coverage of European tyre manufacturers, analysts at Jefferies Equities Research fated Pirelli as their top pick, followed by Continental and Michelin. “Continental is trading on the largest discount to Michelin in years and the ex-tyres business is at the lowest multiple (2x EBIT) in three years. Pirelli is at a two per cent discount to Michelin versus a premium for >90 per cent of the last three years.
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