Loeb Wins Monte Carlo Rally
Sébastien Loeb has won his third Monte Carlo Rally. The French driver’s success brings Michelin’s total to 20 wins in the principality since the creation of the World Rally Championship in 1973. In a repeat of last years Monte Carlo classification, Citroën and Ford secured first and second places. Sébastien Loeb and the Michelin-shod Citroën Xsara WRC dominated the seasons opening round from start to finish and Michelins tyres were competitive from the very first group of stages, which saw Loeb pull out a significant early lead. This years Monte Carlo Rally also marked the introduction a new tyre regulation which, for this event, allowed drivers to use a maximum of 55 tyres from their allocated quota of 80 asphalt tyres and 50 snow tyres (although the latter werent actually fitted given the conditions). After consultation with their engineers and Michelin technicians, the drivers had to finalise their choice on the Monday before the event. The 80 asphalt tyres included the three or four compounds they believed would be competitive but the difficulty was determining the ideal quantity of each option for the three-day event. According to Michelin, its one-two finish in Monaco shows that the work put in by its technicians and partner teams and drivers in pre-event testing paid dividends.
Continue ReadingSilverstone Withdraws from Motor Show
The Silverstone motor circuit has pulled out of the running to host the British International Motor Show. The SMMT confirmed the racetrack had withdrawn leaving three major venues – the Birmingham NEC, Earls Court in London and the Docklands Excel centre -- pitching for the 2006 exhibition. An SMMT spokesman said a final decision on the show’s future location would be made in February.
Continue ReadingPirelli’s Relativity Challenge 2005
The Pirelli Internetional Award has launched the Pirelli Relativity Challenge for 2005. In short, the award will be given for the best multimedia work that explains Einstein’s Special Relativity Theory to the layperson. Albert Einstein’s Special Relativity Theory was first published by in 1905, yet despite its age it is still only understood by the trained physicist, says Pirelli, explaining the reasons behind the challenge.
Continue ReadingKwik-Fit Appoints New CEO
Kwik-Fit has appointed Ian Fraser as its new chief executive, as of the 1st February 2005. Mr Fraser takes over from Tim Parker, who resigned last summer in order to take up the CEO role at the AA. Despite the move Mr Parker remains deputy chairman of Kwik-Fit.
Continue ReadingToyo Executives Officially Open European Office
Having established its new European offices on 1 January, Toyo Tire invited guests to an official opening that fused European and Asiatic cultures. Dignitaries present included Toyo president and chief executive, Yoshio Kataoka and the Herbert Napp, the Mayor of Neuss, the German city where the new offices are based.
Continue ReadingGoodyear Considers Restructuring Options
Goodyear Tire & Rubber is considering restructuring options, including the closure of North American plants, shifting work to “low-cost” countries and cutting an unspecified number of jobs, the Wall Street Journal has reported.
Continue ReadingMotor Industry Awarded for ABS
The motor industry has been presented with What Car? magazines 2005 readers award, for the voluntary fitting of Anti-lock Braking Systems (ABS) as standard. Christopher Macgowan, chief executive of the Society of Motor Manufacturers and Traders, collected the award yesterday on behalf of the industry. Readers voted for initiatives delivered in the past year that made their lives safer, easier or cheaper. The magazine’s editor David Motton said: “Previously, buyers were more likely to spend money on optional extras such as alloy wheels or air-con rather than ABS. Now they no longer have to make that choice and lives will be saved as a result.”
Continue ReadingDelphi Posts Fourth-Quarter Loss
Delphi has reported losses of $102 million (£55 million) in the last three months of 2004, following cost restructuring and the drop in General Motors’ vehicle production, reports the Detroit News. Excluding special charges, the company lost $51 million, or nine cents a share, against Wall Street estimates of a 15-cent-a-share loss for the quarter. Total revenues were down three per cent to $7 billion, but the company increased non-GM revenue 14 per cent to $3.4 billion in the fourth quarter.
Continue ReadingPirelli’s Presence in US OE Growing
The Detroit Motorshow has increased Pirelli’s profile in America’s Original Equipment segment. The P Zero product range was chosen for two OE fitments in the market. The new Jaguar Coupé will be fitted with 21 inch P Zero Nero tyres and the Ford Mercury with a concept P Zero tread design.
Continue ReadingDegussa Increase Carbon Black Production
Degussa has begun plans for a fourth production line at its carbon black plant in Qingdao, even though its third line is still under construction. The German company will significantly increase its manufacturing capacity in China with the new investment. “After completion of our current expansion projects we will be able to produce more than 100,000 metric tons of carbon black,” said Robert Wissner, head of Degussa’s Fillers & Pigments Business Unit.
Continue ReadingHankook and Kumho Fined
The South Korea monopolies commission has said it will fine Hankook Tire and Kumho Tire 4.1 billion won (£2.1 million), Korean newspapers have reported. The Fair Trade Commission (FTC) said the two companies had raised the prices of products shipped to their distributors after consulting each other, violating the country’s fair trade act. The fines break down to 2.2 billion won for Hankook and 1.9 billion won for Kumho. The ruling comes after both companies raised their prices by between five and 10 per cent in May 2004, on the pretext of higher international rubber prices. The FTC is reported to have said both companies have admitted to the violations and provided evidence, entitling them to reduced fines under the governments leniency program.
Continue ReadingYokohama’s Salem Contract Awaits Approval
Yokohama and the United Steelworkers of America have reached a provisional agreement regarding a new contract for the manufacturer’s Salem plant, according to American news sources. The contract is pending approval by union members said Yokohama. However the terms of the new arrangement have not been disclosed. The previous contract, which expired in June 2003, was extended through negotiations. The Salem plant produces passenger, high performance and light truck tyres.
Continue ReadingDucati Bridgestone Test Tyres
Ducati Corse CEO Claudio Domenicali has announced that it is to set-up a special tyre test team in collaboration with Bridgestone, reports MotoGP News. The MotoGP project will see Japanese rider, Shinichi Itoh, become the official test-rider alongside a group of technicians, including a Ducati Corse engineer.
Continue ReadingMichelin Changes Accounting Standards
Michelin CFO, Michel Rollier has met with analysts in order to discuss the main effects of the Group’s transition to International Financial Reporting Standards or IFRS. The company previously used the French GAAP system. Michelin say its wishes, in line with French market authority recommendations, to provide the financial community with all available information. According to the company, adoption of IFRS standards has had consequences both in terms of measurement and presentation. Michel Rollier indicated that the main impact on Group consolidated accounts has been identified.
Continue ReadingMichelin’s Guide to Great Britain and Ireland
Michelin has published its latest guide, this time to Great Britain and Ireland. Out tomorrow this year’s guide sees the addition of two new symbols, one indicating a good wine list and the other relaxation and well being facilities.
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