![Hubtrac Europe raises third-quarter 2024 sales forecast](https://www.tyrepress.com/wp-content/uploads/2024/06/Hubtrac.jpeg)
Hubtrac Europe raises third-quarter 2024 sales forecast
Hubtrac Tires Europe’s sales division has raised its sales forecast for the third quarter of 2024. According to the company, executives of which Tyres & Accessories met with during the recent Tire Cologne exhibition, the revision is primarily driven by “the strategic geographical advantage of its top-tier production plant in Serbia and the recent sharp increase in shipping prices from China and Southeast Asia to Europe”.
Continue Reading![GSF Car Parts expands network with new branch openings](https://www.tyrepress.com/wp-content/uploads/2024/06/CV026_GSF_240617-2.jpg)
GSF Car Parts expands network with new branch openings
GSF Car Parts, the UK car parts distributor, has announced the opening of its latest branch in Birmingham. This marks a significant milestone in the companys ongoing expansion efforts, with branches in Crawley and Southgate set to open later this month. Strategically located in East Birmingham, the new branch will serve as a vital hub for GSF Car Parts, enhancing the companys ability to supply and deliver high-quality car parts and accessories. The facility is 10,000 sq ft and features a fleet of five vans, two bikes, and two electric Tuk Tuk-style bikes. Its proximity to the city centre ensures excellent coverage and fast delivery times across the city.
Continue Reading![Battery health checks the major topic at VRA July meeting](https://www.tyrepress.com/wp-content/uploads/2023/10/VRA-logo2.jpg)
Battery health checks the major topic at VRA July meeting
Battery health checks and their impact on the used electric vehicle (EV) market will be the main discussion at the July member meeting of the Vehicle Remarketing Association (VRA). Being held at Cox Automotive in Bruntingthorpe, Leicestershire on Thursday 25 July, it will include contributions from battery health experts Aviloo, Altellium and Clearwatt, as well as the results of a VRA survey on the best way to apply battery health checks to the remarketing process.
Continue Reading![Lapin Kumi and Colmec form joint tyre services group](https://www.tyrepress.com/wp-content/uploads/2024/06/David-Boman.jpg)
Lapin Kumi and Colmec form joint tyre services group
The Finnish Lapin Kumi and Swedish Colmec tyre businesses are forming what they call “a new sustainable and customer centric tyre services group”. This step follows a similar move by fellow Swedish firms Centrala Gummi and Colmec earlier in the spring. The transaction is expected to close in the third quare 2024, subject to customary closing conditions.
Continue Reading![Michelin leading premium tyremakers in year-on-year share price performance](https://www.tyrepress.com/wp-content/uploads/2024/06/Michelin-share-price-performance.jpg)
Michelin leading premium tyremakers in year-on-year share price performance
Michelin is leading the pack when it comes to share price performance amongst the top five tyremakers in the past year. Indeed, while other tyremakers have been experiencing falling stock prices, Compagnie Générale des Établissements Michelin recently passed above its two hundred day moving average. But when you compare the one-year share price performance of Michelin, Bridgestone, Goodyear, Continental and Pirelli, Michelin is the clear leader.
Continue Reading![Michelin share price beats 200-day moving average](https://www.tyrepress.com/wp-content/uploads/2024/06/Michelin-Google-Finance.jpg)
Michelin share price beats 200-day moving average
While other tyremakers have been experiencing falling stock prices, Compagnie Générale des Établissements Michelin recently passed above its two hundred day moving average. On Monday 17 June, the stock surpassed its two hundred day moving average of €33.99 ($36.55) and traded as high as €38.04 ($40.90).
Continue Reading![Goodyear shares fall to 52-week low, but institutional investors are buying](https://www.tyrepress.com/wp-content/uploads/2024/06/Goodyear-Google-Finance-1.jpg)
Goodyear shares fall to 52-week low, but institutional investors are buying
Goodyear Tire & Rubber Company shares fell to a 52-week low during trading on Tuesday 18 June 2024. Specifically, the stock price fell as low as $11.24 having previously closed at $11.53. However, there is also evidence that institutional investors are increasingly interested in the tyremaker’s shares.
Continue Reading![LD Carbon wins $28 million Toyota-backed investment in sustainable carbon black and pyrolysis oil](https://www.tyrepress.com/wp-content/uploads/2024/06/design_9_16847416439837.png)
LD Carbon wins $28 million Toyota-backed investment in sustainable carbon black and pyrolysis oil
LD Carbon has closed a $28 million Series C funding round led by Toyotas growth fund, Woven Capital, with participation by Meritz Securities, Investwith, Industrial Bank of Korea, Hyundai Motor Group ZER01NE, Elohim Partners and New Main Capital. LD Carbon will use the investment to scale operations to recycle end-of-life tyres and material from end-of-life vehicles into recovered carbon black and pyrolysis oil through pyrolysis and material recovery technology. From here, the aim is to use the recovered materials to create new automotive parts and tyres. According to the company, “the investment will advance LD Carbons mission of accelerating the circular economy while delivering material cost and carbon savings to global customers”.
Continue Reading![ETEL/Kwik Fit extends lead at top of 2024 UK tyre retail ranking](https://www.tyrepress.com/wp-content/uploads/2024/06/Kwik-Fit.jpg)
ETEL/Kwik Fit extends lead at top of 2024 UK tyre retail ranking
After a few years of rapid growth designed to challenge ETEL’s position at the top of the UK tyre retail tree, this year’s data shows that the force of that challenge has diminished and European Tyre Enterprises Ltd (ETEL) is actually extending its lead. The fiercest competition is at the edge of the top five where two manufacturer-connected tyre retail chains have really upped the ante and both have expanded rapidly compared with last year’s table. HiQ comes out as this year’s fastest rise and there have also been significant movements in the mid-table positions as well as some surprising changes towards the end of the top 25.
Continue Reading![Tyre recyclers launch manifesto to reform waste rules](https://www.tyrepress.com/wp-content/uploads/2024/06/TRA.png)
Tyre recyclers launch manifesto to reform waste rules
Just a couple of weeks before the general election, the major parties published their manifestos. Meanwhile, in the tyre world, UK collection and recycling body, Tyre Recovery Association (TRA) launched its “election manifesto for the reform of UK rules to protect the environment and save UK capability”. The goal is to give “the British political leaders a clear agenda for the new government to implement, whoever wins the vote”.
Continue Reading![Bridgestone Retail UK celebrates European Retail Awards](https://www.tyrepress.com/wp-content/uploads/2024/06/DSC_8866-scaled.jpg)
Bridgestone Retail UK celebrates European Retail Awards
Bridgestone Retail UK has won two Bridgestone European Network Retail Awards recognising the company’s performance levels – both collectively and individually. The company’s expanding wholesale department led by Paul Carter – jointly with retail director Paul Nunn – won the Financial Performance prize, after achieving remarkable revenue growth of 8.6 per cent in 2023 compared to 2022 and a 4.5 per cent increase in margin during the same period.
Continue Reading![Grant Willman named Continental UK and Ireland truck tyre sales director](https://www.tyrepress.com/wp-content/uploads/2024/06/Continental-scaled.jpg)
Grant Willman named Continental UK and Ireland truck tyre sales director
Continental Tyres has promoted its former regional truck tyre general sales manager to the role of truck tyre sales director for the UK and Ireland. The new appointment will see Grant Willman head up Continental Tyres’ truck sales team from its UK headquarters in Datchet.
Continue Reading![Merityre rejoins TyreSafe](https://www.tyrepress.com/wp-content/uploads/2022/06/Dene-Arnold-will-be-taking-up-the-position-of-Managing-Director-in-July-2022.jpg)
Merityre rejoins TyreSafe
Merityre Specialists Ltd has rejoined TyreSafe as official supporters. Merityre is a prominent tyre retailer with 24 branches across the South of England and offers “a comprehensive range of tyres and automotive services”. Known for their commitment to customer satisfaction and road safety, Merityre has a long-standing reputation for providing high-quality products and services to road users.
Continue Reading![Goodyear’s ‘largest-ever’ 24 Hours of Le Mans operation proves tyre performance in LMGT3 era](https://www.tyrepress.com/wp-content/uploads/2024/06/2024lm24h2196.jpg)
Goodyear’s ‘largest-ever’ 24 Hours of Le Mans operation proves tyre performance in LMGT3 era
Goodyear ran its largest ever 24 Hours of Le Mans operation to demonstrate the long-distance performance of both its slick and wet tyres in the 2024 edition of the iconic endurance race. Mixed conditions throughout the race set the stage for a strategic battle in both the LMP2 and new LMGT3 classes. Goodyear supplied tyres for 39 cars across two classes, almost two-thirds of the entire grid at Le Mans, using 7,500 tyres, serviced by expert tyre fitters working in shifts throughout the race to remove, inspect and replace a set of tyres in as little as three minutes. In the pit lane, a crew of 18 track support engineers worked directly with each team throughout the race to advise on setup and strategy.
Continue Reading![Goodyear to display new GP-4D Gen II OTR tyre at Hillhead 2024](https://www.tyrepress.com/wp-content/uploads/2024/06/web-res-2022-0730gp-4dgeniiangled2.png)
Goodyear to display new GP-4D Gen II OTR tyre at Hillhead 2024
Goodyear will exhibit its new Goodyear GP-4D Gen II alongside its range of OTR tyre products, services and solutions at Hillhead 2024 (25-27 June, Stand U13). The new 750/65R25 Goodyear GP-4D Gen II tyre at the show targets articulated dump trucks with an optimised tread design, multiple steel belt carcass construction, and a tread compound. These features add up to benefits such as versatile tread pattern for balanced performance, improved treadwear as well as high level of comfort for the operator.
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