Sailun adjusts Mexican factory plans
At the same time as announcing its plans for as Cambodian industrial park project, Sailun also noted that details associated with its Mexican factory have changed. The tyre manufacturer has negotiated with the Mexican project’s partner, TD (Tire Direct International Holding, S.A.P.I. DE C.V.), to adjust the registered capital and investment ratio of the Mexican implementation entity STT (SL & TD Tire Manufacturing, S.A.P.I. DE C.V.).
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ATD chapter 11 leaves tyremakers with >$589 million outstanding
When American Tire Distributors, Inc. (ATD) filed Chapter 11 on 22 October 2024, the large US tyre distributor did so for the second time in roughly six years. And it did so leaving tyremakers with north of US$589 million outstanding. If North America’s largest tyre brands weren’t nervous at this point, more than half of that will be connected to the balance sheet of just three tyremakers.
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Yokohama aims to win 24h Nürburgring after Scherer Sport PHX partnership
Yokohama Rubber Co. Ltd. has signed a partnership agreement with racing team Scherer Sport PHX of Germany in a bid to win the ADAC Ravenol 24h Nürburgring (the Nürburgring 24-hour Race) in 2025.
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European replacement tyres drive Nexen’s Q3 sales of KRW 708.5 billion
Nexen Tire has reported third-quarter 2024 sales of KRW 708.5 billion (£396.595 million; 474.829 million euros; US$514.418 million), up 2.3 per cent on last year. And KRW 52.3 billion in operating profit. Revenue growth in the third quarter was reportedly driven by higher sales in the European market, which grew by 11.9 per cent year-on-year. More specifically, Nexen reported strong winter tyre sales in Europe during the peak seasons of 2Q24 and 3Q24. Despite a slowdown in European original equipment (OE) market, tyre supply there is said to have remained stable “thanks to the company’s expanded supply to premium brands and increased brand recognition through marketing efforts such as the Manchester City partnership.”
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Point S expands in Taiwan
Point S has expanded its presence in East Asia by launching a franchised network in Taiwan. More specifically, the network has partnered with automotive repair and maintenance specialist, Car Quality, in an agreement that includes the integration of the Point S brand in Car Quality’s 30 existing points of sale.
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Remember This? – October 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 October 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. October 2019: One of the UK’s leading tyre wholesalers, Kings Road Tyres, entered administration. The company was incorporated in 1959.
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ETRMA members boost tyre volumes in Q3 2024, but imports the winner since 2019
The European Tyre and Rubber Manufacturers’ Association (ETRMA) has published its members’ replacement tyre sales figures for the third quarter and first nine months of 2024, comparing these results with statistics for tyre imports during the period. Adam McCarthy, the association’s Secretary General, notes that while member sales volumes for Consumer segment tyres are improving, mainly driven by rising demand for all-season tyres, volumes are still negative in the Truck segment. Significantly, both are still far from their pre-pandemic volumes.
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Schaeffler scoops prestigious Irish award
Schaeffler Automotive Aftermarket received possibly its final award under its current name when it was presented with the CV Parts Manufacturer of the Year trophy during a successful Auto Trade Expo weekend for the company, which rebrands as Schaeffler Vehicle Lifetime Solutions UK Ltd on 1 November.
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Tyres & Accessories Magazine October 2024 issue available to read or download
The wholesale sector and industrial tyres feature in the October 2024 issue of Tyres & Accessories, which is now available as an e-paper for Tyrepress subscribers. The issue also features the latest news from the international tyre business, including the opening of Nokian Tyres Romanian factory, new commercial vehicle tyre ranges from Michelin and Goodyear, and a report from the UKs Tyre Recovery Association annual forum day. 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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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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First truck tyre made at ZC Rubber’s Indonesia factory
Zhongce Rubber Group Co. Ltd. (ZC Rubber) reports the first truck tyre made at its new Indonesian subsidiary, PT. Matahari Tire Indonesia (MTI), has rolled off the production line. This milestone was celebrated with an official ceremony at the MTI factory located in the Kendal Industrial Park, Semarang, Indonesia.
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Michelin USA recalls classic tyres for a second time
In the USA, Michelin North America, Inc. (Michelin) is recalling certain XVS and TRX tyres, provided as replacement tyres for a previous recall in 2022 (specifically what NTDSA refers to as recall 22T023). The problem? The DOT symbol is missing from the tyre sidewalls. Of course, the problem is one of information. Tyres within a DOT symbol “may be used in inappropriate applications, increasing the risk of a crash”, according to the US National Highway Traffic Safety Administration (NHTSA). Just 46 TRX and XVS tyres are affected in sizes 240/55 VR 415 94W, 240/55 VR 390 89W and 185/80R15 93V.
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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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Apollo Tyres optimises North West Cluster leadership
Apollo Tyres Ltd has made two management changes in order to “optimise” the team that leads its North West Cluster within Europe. Fabian Ezendam has been appointed new International Key Account Manager with immediate effect, responsible for overseeing some of the company’s largest international accounts, including Global Automotive Investment Holdings, LKQ and the Automotive Group.
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Back-to-back cycle challenges raise £225,000 for Transaid
The transport and logistics industry has successfully fielded two strong teams of riders to complete Transaid cycle challenges both in the UK and Kenya, raising more than £225,000 towards the international development organisation’s projects in sub-Saharan Africa.
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