Nokian Tyres completes Dayton, US factory ramp-up
Nokian Tyres has opened a new finished goods warehouse in Dayton, Tennessee, marking the completion of a ramp-up process at the company’s US production facility.
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Michelin: X Crane tyres take Kavanagh hire fleet to new heights
Kavanagh Crane Hire has taken delivery of three new Liebherr mobile crane units all specified on Michelin X Crane + tyres. The business – which operates the largest crane fleet in Ireland – has been buying Michelins since it was established back in 1973 and now specifies all new vehicles exclusively on the manufacturer’s premium fitments.
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World’s largest tyremakers 2024: Stable “balance of power” and ambitious manufacturers
Our latest “worlds largest tyremakers data based on the key figures for the 2023 financial year sheds light on several developments that have recently characterised the tyre market. On the one hand, there is the development of sales, which have at best moved sideways for many manufacturers compared to 2022. On the other hand, there is also the development in terms of ranking: here it is clear that companies from China are increasingly operating on an equal footing with the long-established manufacturers from Europe, America and Japan and now even have a new number 10 in the race with the Sailun Group. However, it is also clear that our ranking shows a stable balance of power overall.
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Continental completes Hefei tyre plant phase 4
Continental’s Hefei plant held a completion ceremony for the project’s fourth phase. It was revealed that the plant is expected to achieve total planned production in 2027. In other words, the plant plans to achieve an annual production capacity of 18 million semi-steel radial tyres in 2027.
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China’s top listed tyremakers in 2023: a large gap between the upper and lower echelons
2023 was a good year for many Chinese tyre manufacturers. Especially for listed tyre companies, benefiting from overseas markets and production capacity advantages, they can cope with market competition more calmly. Several Chinese tyre manufacturers report that they are undergoing IPOs in the past year, but no company has completed the main board listing. Therefore, the number of tyre companies analysed this time remains at 10, namely Sailun, Linglong, Triangle, Huayi (Double Coin), Aeolus, and Jiangsu General on the Shanghai Stock Exchange; Guizhou Tyre, Sentury and Doublestar on the Shenzhen Stock Exchange; and Prinx Chengshan on the Hong Kong Stock Exchange.
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Enso to build US$500 million carbon-neutral US tyre factory
Enso reports that it has signed a Letter of Interest (LOI) with the Export-Import Bank of the United States (U.S. EXIM Bank) to establish a groundbreaking carbon-neutral tyre factory in America. The move is being made in conjunction with Rockwell, Arup and US-based investors 8090 Industries as well as Galway Sustainable Capital.
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Doublestar reduces the registered capital of the Guangrao company
Doublestar reduced the registered capital of Guangrao Jixing, a wholly owned subsidiary, on the grounds of “strategic optimisation and adjustment”. Information released by the tyre manufacturer shows that the registered capital of Guangrao Jixing has been reduced from 609 million yuan to 205 million yuan.
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Rising shipping costs may have affected China’s tyre exports
The May export data released by the customs showed that China exported 56.38 million tyres in May, a year-on-year increase of 4.8 per cent; the total value reached 13.05 billion yuan (about £1.42 billion; €1.68 billion), an increase of 2.1 per cent. The growth rate of both figures compared to last year’s period was less than 5 per cent, which is relatively rare in recent years. In particular, the total export value of tyres, which has been proliferating year-on-year in the past few years, has rarely seen such a low growth data of 2.1 per cent.
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MESNAC builds factories in Vietnam and Cambodia
MESNAC has announced plans to invest in factories in Vietnam and Cambodia. The company’s board of directors has approved two investment plans. The investment in the Vietnam factory amounts to 107 million yuan, and the construction period is about 18 months. The total investment in the Cambodian factory is 27.97 million yuan, and the construction period is 14 months.
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The top 500 Chinese brands include nine tyre companies
On 19 June, the World Brand Lab released the latest “China’s 500 Most Valuable Brands” list. Compared with the data in 2023, there are still nine tyre manufacturers on this brand value list, and the ranking has not changed.
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JK Tyre launches next generation commercial vehicle tyre lines
Leading Indian truck and bus radial (TBR) manufacturer, JK Tyre & Industries has introduced its new and advanced range of commercial tyres for the transportation sector. The company introduced four new variants, the Jetway JUM XM, Jetway JUC XM, Jetsteel JDC XD, and the Jetway JUXe for electric buses. JK Tyre states that the expansion of its product portfolio underscores its “dedication to providing advanced, high-performance solutions that combine superior performance, economic benefits, and environmental responsibility.” It said the launch was a “significant milestone” in its commitment to driving sustainable mobility solutions; the tyres are designed to enhance performance, operational efficiency, cost savings and sustainability.
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Vildósola Sr wins class on Toyo Open Country tyres at SCORE Baja 500
Toyo supplied a racing version of its Open Country M/T 4x4 tyre to several competitors in the SCORE Baja 500 took place (Ensenada, Baja California, Mexico; 29 May to 2 June). Only 169 of the 254 starting racing teams made it to the finish line of the challenging 777.26 km course, among them Gustavo Vildósola, his son Tavo Vildósola, Bryce Menzies, Christopher Polvoorde and Justin Davis, who all relied on Toyo rubber.
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Read and download Tyres & Accessories Magazine June 2024 now
Tyres & Accessories features the tyre retail sector and ultra-high performance tyres in the June 2024 issue, available as an e-paper for subscribers to Tyrepress. The issue also features a special report on the Chinese tyre industry from Shandong Province, as Tyres & Accessories and Chinese language sister website Tyrepress China visit the 14th GuangRao Rubber Tire and Automotive Accessory Exhibition. 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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Remember This? – Tyres & Accessories June 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 June 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.
Continue Reading Tyre News in Numbers – June 2024
Tyres & Accessories’ monthly Tyres News in Numbers’ column boils down the latest tyre industry news to the most important statistics of the month. Below, we look at the big numbers from the June 2024 magazine... 13.6 billion yuan: The revenue – equating to £1.476 billion or €1.732 billion – generated by China’s biggest online tyre retailer, Tuhu, which went public at the beginning of this year.
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