![Yokohama remains profitable in 1H 2020, despite coronavirus](https://www.tyrepress.com/wp-content/uploads/2020/08/Yokohama-H1-2020.jpg)
Yokohama remains profitable in 1H 2020, despite coronavirus
The Yokohama Rubber Co., Ltd’s first half 2020 profit might have declined 92.5 per cent compare with the same period of the previous year to 1.3 billion yen (£9.321 million; 10.322 million euros, US$12.220 million), but the company did remain profitable as all tyre manufacturers have faced serious headwinds due to coronavirus. Operating profit fell 86.8 per cent to 2.9 billion yen. And salves fell 20.6 per cent to 247.1 billion yen.
Continue Reading![Toyo 2Q operating income down 48%](https://www.tyrepress.com/wp-content/uploads/2020/08/Toyo-2Q-2020.png)
Toyo 2Q operating income down 48%
Toyo Tire Corporation reported net sales of 150,586 million yen (£1.1081 billion; 1.195 billion euros; $1.414 billion), a decrease of 15.7 per cent compared with the same period in 2019. Operating income, which amounted to 7,928 million yen (£59.923 million; 63.027 million euros; $74.443 million), down 48.3 per cent on 2019, was hit worst.
Continue Reading![Latin Tyre Expo postponed until 2021](https://www.tyrepress.com/wp-content/uploads/2020/08/Amador-Inside2.jpg)
Latin Tyre Expo postponed until 2021
Having already delayed the 2020 Latin American & Caribbean Tyre Expo & Latin Auto Parts Expo from July to November back in March, the show’s organisers have now postponed the exhibition to 13-16 July 2021.
Continue Reading![Nokian Tyres net sales down over 30%](https://www.tyrepress.com/wp-content/uploads/2020/08/Tyre_Maintenance_Nokian_Summer_Tyres_001-scaled.jpg)
Nokian Tyres net sales down over 30%
Nokian Tyres has reported second quarter 2020 net sales of 270.7 million euros. In the comparative period 2019, this figure was 415.7 million euros. Therefore, the Finnish company’s second quarter net sales were 30 per cent lower than this time last year.
Continue Reading![Cooper reports $6 million 2Q loss, international business beat 2019 result](https://www.tyrepress.com/wp-content/uploads/2020/01/Cooper-logo-Print.jpg)
Cooper reports $6 million 2Q loss, international business beat 2019 result
Cooper Tire & Rubber Company reported a second quarter 2020 net loss of US$6 million on 3 August 2020 compared with net income of $9 million in the same period last year. Net sales decreased 26.9 per cent to $496 million. Operating profit was $5 million, or 1.1 per cent of net sales, compared to operating profit of $32 million (4.7 per cent of net sales) in 2019.
Continue Reading![Jason’s Tyres distributing Galaxy OTR tyre brand in Benelux](https://www.tyrepress.com/wp-content/uploads/2020/08/HTSR-400-scaled.jpg)
Jason’s Tyres distributing Galaxy OTR tyre brand in Benelux
Alliance Tire Group (ATG), A Yokohama Rubber Corporation group company, has appointed Jason’s Tyres as its Galaxy OTR tyre brand distributor in the Belgium, Netherlands and Luxembourg (Benelux) region. An OTR tyre specialist with 20 years of experience, the Jason’s Tyres Extreme division will distribute the entire portfolio of both bias and radial Galaxy OTR tyres in the earthmoving segment with immediate effect.
Continue Reading![SEMA cancels 2020 Show](https://www.tyrepress.com/wp-content/uploads/2020/08/web-SEMA2019_1105_103947-0647_DVS.jpg)
SEMA cancels 2020 Show
SEMA, the US Specialty Equipment Market Association, has cancelled its 2020 Show, due to take place 3-7 November in Las Vegas. The association said it made the decision due to Covid-19 and concerns that event facilities and services will be unavailable. It was informed by difficulties in preparations arising from “mounting uncertainty” about the show’s status. It added that full refunds for SEMA Show exhibitor booth deposits and attendee registration fees will be issued.
Continue Reading![Goodyear expanding direct online tyre sales across Europe](https://www.tyrepress.com/wp-content/uploads/2020/07/Goodyear-David-Anckaert-scaled-e1595502108588.jpg)
Goodyear expanding direct online tyre sales across Europe
Goodyear has been marketing its passenger car tyres in Germany directly to end users for fitting by a listed partner for roughly six months. And for years before that there has been a noticeable trend towards online selling. Following on from our online preview article, Tyres & Accessories’ German group publication Neue Reifenzeitung interviewed David Anckaert, vice president Commercial Europe at The Goodyear Tire & Rubber Company and began by asking: is it too early to draw initial conclusions? And where’s next?
Continue Reading![Goodyear reports Q2 net loss of US$696 million](https://www.tyrepress.com/wp-content/uploads/2020/08/GY-2Q20_2.png)
Goodyear reports Q2 net loss of US$696 million
Goodyear Tire & Rubber reported a Q2 2020 net loss of $696 million ($2.97 per share) compared to net income of $54 million ($0.23 per share) a year ago in financial results released 31 July 2020. Goodyears second quarter 2020 sales were $2.1 billion, down 41 per cent compared with a year ago. According to the company, the decline was driven by “lower industry volume and reduced sales from other tyre-related businesses.” However, there are signs that demand is improving.
Continue Reading![Tatneft invests in Kazakhstan tyre factory joint venture](https://www.tyrepress.com/wp-content/uploads/2020/08/8142-scaled.jpg)
Tatneft invests in Kazakhstan tyre factory joint venture
PJSC Tatneft and JSC Allur Group of Companies are establishing a joint tyre manufacturing facility in Kazakhstan. The factory will produce passenger car, light truck and truck tyres. The planned production capacity is 3 million passenger and light truck tyres as well as 0.5 million truck tyres per year. Production is expected to start in 2022. The project will create about 800 jobs, according to Tatneft.
Continue Reading![Tencent and Linglong partner in online marketing drive](https://www.tyrepress.com/wp-content/uploads/2020/08/20200711131038_2430.jpg)
Tencent and Linglong partner in online marketing drive
On July 10, Linglong Tire signed a strategic cooperation agreement with Tencent Cloud and Huazhi. As a result, the three parties will cooperate on smart marketing and industrial digitalization based on “the world’s first industrial Internet platform for the tyre industry, aiming at helping Linglong realize the transformation from traditional manufacturing to intelligent manufacturing, while seizing the aftermarket and improving the overall digital marketing and service level.”
Continue Reading![Magna Tyres opens Czech Republic office](https://www.tyrepress.com/wp-content/uploads/2020/02/magna-band.jpg)
Magna Tyres opens Czech Republic office
Magna Tyres Group has opened a sales office in the Czech Republic. It said the move has been in response to demand for the Magna range of OTR ad specialist tyres in Eastern Europe. It added that it has been encouraged by “unutilised market potential in this region.” The region was previously serviced by its Polish office.
Continue ReadingMonro rolls Amazon tyre fitment across all stores
In the USA, largescale garage chain Monro Inc. has completed the rollout of its collaboration with Amazon.com to provide tyre installation services at all of its 1,200+ store locations in 32 states.
Continue Reading![Linglong building R&D centre in Jinan, China](https://www.tyrepress.com/wp-content/uploads/2020/08/20200723164323_3253.jpg)
Linglong building R&D centre in Jinan, China
Linglong Tire signed a cooperation agreement with the Jinan Municipal People’s Government on 17 July 2020. As a result, Linglong Tire will settle its research and development and technological innovation base in the central district of Jinan. According to the agreement, the two parties will cooperate in terms of science and technology as well as personnel matters. The relevant leaders of Jinan and Linglongs chairman and president Wang Feng attended the signing ceremony.
Continue Reading![Falken launches ‘Pass the Wheel’ social media campaign](https://www.tyrepress.com/wp-content/uploads/2020/07/Passthewheel.jpg)
Falken launches ‘Pass the Wheel’ social media campaign
The coronavirus pandemic has put many visits to dream destinations on hold, but Falken Tyres is using its social media feeds to provide some vicarious thrills. The Sumitomo tyre brand’s new ‘Pass the Wheel’ campaign comprises three beautifully shot videos to provide a virtual road trip along some of Europe’s most beautiful roads and passes. The videos show the drive from Zell am See in Austria, across Switzerland, Italy and France, and into Monaco. The campaign trailer has already clocked up 1.7 million views on Falken’s YouTube Channel.
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