![The top tyre stories of 2020](https://www.tyrepress.com/wp-content/uploads/2021/01/national-tyres-internal-scaled.jpg)
The top tyre stories of 2020
Even for the best forward-planners, 2020 was a year of surprises. And while the word “unprecedented” has been worn out during the last 12 months, it is difficult to find another more appropriate term. With everything from business closures, to a global pandemic (and with the pandemic resulting in lockdowns, factory closures and spikes in online and mobile tyre business), there certainly has been a lot going on. That’s why in January we crunched the numbers relating to our website traffic in order to find our what exactly were the top 10 stories of 2020.
Continue Reading![Continental expected to outperform Q4 2020 estimates](https://www.tyrepress.com/wp-content/uploads/2020/07/Continental-HQ_tb-1.jpg)
Continental expected to outperform Q4 2020 estimates
Despite the pandemic-led pressures of 2020, Continental AG will outperform the consensus of analyst estimates of its fourth-quarter 2020 financial performance, according to Jefferies Equity Research. Specifically regarding Continental AG’s fourth quarter 2020 results, Jefferies estimate group adjusted EBIT of 3.3 billion euros compared to a consensus of 2.7 billion, implying their calculations are 21 per cent above consensus:
Continue Reading![Kama Tyres to make off-highway tyres at Nizhnekamsk plant](https://www.tyrepress.com/wp-content/uploads/2021/01/kama-sml.jpg)
Kama Tyres to make off-highway tyres at Nizhnekamsk plant
In addition to working towards expanding capacity for all-steel truck tyres at its Nizhnekamsk Truck Tyre Factory (NZGSh) by a further 1.2 million units a year, Russia’s Tatneft Group is giving the plant the capability to produce up to 33,000 large-sized industrial and agricultural tyres annually. This project is being financed with a 10 billion ruble (£99 million) loan.
Continue Reading![President Biden from a tyre perspective](https://www.tyrepress.com/wp-content/uploads/2021/01/Best-2021_web.png)
President Biden from a tyre perspective
Less than 24 hours after Joe Biden was sworn-in as the 46th president of the USA, “Trump, the presidential limo and its tyres” – first published in August 2020 was amongst our most popular stories of the day. Of course, in normal circumstances we don’t spend too much time considering presidential limousine fitments. However, “Trump, the presidential limo and its tyres” was a follow-up story to the well-documented Twitter bust-up US president 45 (Donald Trump) had with Goodyear. With this in mind, it is worth looking at what we know so far about the Biden presidency from a tyre perspective.
Continue Reading![Nexen Tire Europe raising prices by up to 6.6%](https://www.tyrepress.com/wp-content/uploads/2020/10/820_earth_globe-scaled-e1602237485165.jpg)
Nexen Tire Europe raising prices by up to 6.6%
Nexen Tire Europe has announced plans to raise tyre prices across the board. According to the company, the price hike is due to rising raw material costs “as well as freight and logistics costs”.
Continue Reading![Brexit, Covid and shipping cost increases point to tyre price hikes in 2021](https://www.tyrepress.com/wp-content/uploads/2021/01/pexels-lukas-590022-scaled.jpg)
Brexit, Covid and shipping cost increases point to tyre price hikes in 2021
After months of mounting pressure on UK ports, the automotive industry is bearing visible signs of strain. Specifically, Honda UK halted production at its Swindon factory in December 2020 because it couldn’t get the right parts in time to continue production. But the ramifications don’t end there. General UK tyre supply is likely to be impacted too. And the result of the Brexit and Covid market pressures as well as shipping cost increases are likely to result in tyre industry price hikes during 2021.
Continue Reading![Using technology to create efficiencies in mobile tyre service](https://www.tyrepress.com/wp-content/uploads/2021/01/RubberHub.png)
Using technology to create efficiencies in mobile tyre service
One of the most pronounced effects of the pandemic on the tyre retail business has been the uptick in online and mobile tyre business. RubberHub, a Software-as-a-Solution (SaaS) project originating in Canada, launched its beta product in 2019 and went fully goes fully live this month (February 2020), with followers and test users already hailing from around Canada, the USA and the UK. Tyres & Accessories found out more from RubberHub Inc. president and founder, David Mulensteen.
Continue Reading![India: Tyre makers’ operating profits to exceed pre-corona levels](https://www.tyrepress.com/wp-content/uploads/2021/01/india-flag.jpg)
India: Tyre makers’ operating profits to exceed pre-corona levels
According to S&P Global’s CRISIL Ratings, the tyre industry will be one of the few sectors in India where operating profits surpass pre-crisis levels. Examining its rating of the country’s six leading tyre manufacturers, CRISIL forecasts that their operating profit will grow by six to eight per cent in the 2021 fiscal year (1 April 2020 to 31 March 2021), with favourable input prices and higher realisations helping to offset a four to six per cent decline in volumes.
Continue Reading![Vietnam Rubber Group to expand tyre and tube production](https://www.tyrepress.com/wp-content/uploads/2020/10/59_QWJzdHJhY3QgYmFja2dyb3VuZCB3aXRoIGVhcnRoLmpwZw-scaled-e1602237450291.jpg)
Vietnam Rubber Group to expand tyre and tube production
Vietnam Rubber Group says it achieved its revenue and profit targets for 2020, reporting profit of VNĐ5 trillion (roughly US$200 million) on sales of VNĐ25.477 trillion ($1 billion), according to the Vietnam News Agency. As a result of these figures, the company reports that its goals include restructuring and increased investment in the rubber sector with possible mergers that would help close the rubber tyre and tube products value chain.
Continue Reading![Vietnam-based tyremakers could be “cleared” by US anti-dumping investigation](https://www.tyrepress.com/wp-content/uploads/2021/01/8_Jan_2021_032321_GMTlop-xe1.jpg)
Vietnam-based tyremakers could be “cleared” by US anti-dumping investigation
Vietnamese officials have interpreted the US Department of Commerce (DOC) anti-dumping investigation preliminary conclusions as “very positive” for Vietnam-produced car tyres. There was even hope that cooperative Vietnam-based tyre manufacturers Local newspapers read this mean Vietnamese tyre factories had been “cleared” by the investigation.
Continue Reading![GRI breaks ground on phase 2 of $100 million speciality tyre plant](https://www.tyrepress.com/wp-content/uploads/2021/01/GRI-CEO-Dr-Mahesha-Ranasoma-Senior-Team-Breaking-Ground-scaled.jpg)
GRI breaks ground on phase 2 of $100 million speciality tyre plant
GRI has laid the foundation stone for the second phase of its $100 million manufacturing facility in Badalgama, Sri Lanka. The plant, in the Mirigama Export Processing Zone will expand production of speciality tyres as global demand for its products grows. The company has been expanding rapidly since its $40 million-plus investment in the “world-class” manufacturing facility, inaugurated in 2018. Phase two will include a new mixing facility, expanding the original plant by the end of 2021.
Continue Reading![Kumho gains China Red Dot Design award](https://www.tyrepress.com/wp-content/uploads/2021/01/Kumho-Solus-9-award-sml.jpg)
Kumho gains China Red Dot Design award
Kumho Tire has the distinction of being the only tyre manufacturer to be honoured with a 2020 China Red Dot Design award. It gained this accolade via the Kumho Majesty 9 Solus TA93, an asymmetric tread summer tyre it adapted specifically for the Chinese market.
Continue Reading![Continental extends ContiOnlineContact to OTR and agricultural tyres](https://www.tyrepress.com/wp-content/uploads/2021/01/21_0024_CST_Mock_up_Screen-scaled.jpg)
Continental extends ContiOnlineContact to OTR and agricultural tyres
Continental has expanded ContiOnlineContact digital online dealer portal to include OTR and agricultural tyres. Continental reports that the portal now lists the entire Off-The-Road (OTR) and agricultural tyre portfolio.
Continue Reading![Ferentino tyres, the spiritual children of Marangoni](https://www.tyrepress.com/wp-content/uploads/2021/01/Mythos-lebt_tb.jpg)
Ferentino tyres, the spiritual children of Marangoni
Following the official opening of the Ferentino tyre factory in Sri Lanka last week, a closer look reveals that the company has even more in common with its European and particularly Italian colleagues than it first appears. As we reported in January 2017, Onyx Group subsidiary Ceylon Steel bought Marangoni’s car tyre radial processes, technological know-how and production line from Marangoni Group subsidiary a few years ago.
Continue Reading![$250 million Ferentino tyre factory opens in Sri Lanka](https://www.tyrepress.com/wp-content/uploads/2021/01/Ferentino.jpg)
$250 million Ferentino tyre factory opens in Sri Lanka
Ferentino Tyre Corporation’s Horana, Sri Lanka tyre factory was officially opened by Sri Lankan president Gotabhaya Rajapaksa on 14 January 2021. The facility was constructed with an investment of US$250 million and can reportedly produce 2.4 million tyres annually. Tyres made at the Ferentino factory will cross a number of sectors including radial car, SUV, bicycle and even three-wheelers. These include a “Mythos” product line reminiscent of the Marangoni passenger car tyre range previously produced in the same place (see below). Of the 2.4 million tyres produced annually at the Ferentino factory in this phase, 80 per cent are destined for export markets. A second phase is scheduled to be completed in March 2022.
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