Talks On Future Of Nissan UK Factory
The future of Nissans plant at Sunderland, UK will be decided by the company in. It hinges on whether the plant is chosen to build the new Micra, but Chief Operating Officer and President Carlos Ghosn has hinted that costs may force the group to make the car in France or Spain.
Continue ReadingNew CEO For Bridgestone/Firestone Inc.
John T. Lampe, Executive Vice President of Bridgestone/Firestone Inc., has been made Chairman, Chief Executive Officer and President of the American company. He joined Bridgestone/Firestone in 1973 and has a wealth of international experience with the company. Lampe succeeds Masatoshi Ono (63), who has been with Bridgestone for 41 years, having spent the last ten years in the US and the last seven as CEO. He immediately announced a three-point action plan with the aim of accelerating the tyre recall, assembling a new management team and creating new methods of collecting and examining performance data. His appointment follows personal intervention in the crisis by Yoichiro Kaizaki, Chief Executive Officer of the parent company Bridgestone Corporation. Fuller details in the November issue of TYRES & ACCESSORIES.
Continue ReadingEBIT Expectations Of Michelin Confirmed
In an interview with the French newspaper Le Figaro, the Michelin management has confirmed that it expects an EBIT of between 7.2 and 8.2 per cent for this year, which has to be regarded as a success under the present economic circumstances.
Continue ReadingChina Tire Holdings Seeks $3.5 bn Damages From Goodyear
China Tire Holdings, listed on the NY Stock Exchange since 1993, has brought a law suit against Goodyear in Ohio. Amongst other things the Chinese company accuses Goodyear of violating the RICO statutes and is seeking US$ 3.5 bn in actual and punitive damages from the American rubber giant.
Continue ReadingTuning in Germany – History, Market Volume, Industry Trends
During the last three decades the tuning sector has become a sizeable branch of the German economy. A survey of the Verband Deutscher Automobil Tuner (VDAT) in 1994 recorded about four hundred businesses directly connected with the tuning sector. From 1994 to 1998 total turnover in the tuning industry showed an annual growth rate of just under three per cent. Compared with a 1994 turnover of 7.0 billion marks, latest estimates of the 1998 figure showed a total industry turnover of 7.7 billion marks. More recent figures are not yet available. A positive trend was also forecast for the year 1999 and estimated to be between two and three per cent to reach a figure of approximately 7.9 billion marks. This positive balance, however, is not exclusively generated by the tuning businesses, part of it is contributed by the manufacturing industry. Low-profile tyres (aspect ratio < 60) sold by the tyre manufacturing industry, for instance, are incorporated in the figures. Until the seventies the dominating theme in the industry was optimisation of engine performance, but during the last 20 years the tuners have more and more concentrated on a complete personalisation and harmonisation of the vehicle. In this context tyres and wheels take a decisive role, since this product group with its 27 p.c. turnover share in all VDAT member companies can claim the largest slice of the lucrative tuning cake.
Continue ReadingPirelli And ATS In Seat Programme
Car maker Seat is offering customers a new special equipment programme, with tyres and alloy wheels from its partners in rallying, Pirelli and ATS.
Continue ReadingWith Reifen Gundlach to the Homeland of GT-Radial
In February Reifen Gundlach GmbH organised the GT-Radial Tour 2000, a trip to GT-Radial’s country of origin. The name is a brand of radial tyres (car summer/winter, van, light truck, off-road) produced by the Indonesian tyre manufacturer Gajah Tunggal. Under the brand name Gajah Tunggal the company also produces cross-ply tyres for trucks and buses as well as industrial tyres and motorcycle tyres under brand names Nitto Tyre and IRC. In Germany GT-Radial tyres have been sold exclusively by wholesaler Reifen Gundlach (part of the Japanese Itochu group) for about six years. During the event the tyre manufacturer presented (among others) two new tyres, Preciro (available from May, eleven sizes, series 60 and 65) and Classiro (QIII/2000, seven sizes, series 70). The current range of products has also been enlarged by new sizes/versions and the Indonesians also become increasingly interested in the small transporter and van segment. When Gajah Tunggal speaks of the intention to enter the radial truck tyre business, the company is probably taking the long view. Further volume growth in the winter car tyre segment is targeted, too. Especially in Germany, one of the most important markets for the company anyway. The export business (80 to 90 p.c.) in GT-Radial tyres is (more than) vital for the manufacturer, since sales figures in the non-radial tyre segment have fallen sharply due to the Asian crisis.
Continue ReadingNokian Tyres Record Figures
Nokian Tyres turnover last year reached 322.6 m Euro (28% higher than 1998) and an operating profit of 42.1 Euro (1998 32.2 m Euro). Profit before tax was 35.5 m Euro (1998 29.9 m Euro) and net profit 25.7 m Euro (1998 21.6 m Euro). The company invested 85.7 m Euro (1998 72.7 m Euro), this was mainly in production (30 m Euro). There was also expansion in retail equity with the purchase of the Finnish company ISKO.
Continue ReadingSava Tires Presents New “Effecta” Summer Tyre
Sava, the Slovenian tyre manufacturer – 60 p.c. owned by the Goodyear group since 1998 – presented the Effecta to the public for the first time in mid-March. This S/T summer tyre, developed in cooperation with its European group headquarters in Luxembourg, a non-directional successor to the Exact line, is to be introduced in the market in 28 sizes, from 135/80 R 12 68 T to 185/65 R 15 88 T, by June this year. More than 300 tyre traders in total from 35 countries, among them far-flung places like Iceland or Lebanon, had assembled in the idyllic holiday resort of Bled to see the new Sava product launched. The German contingent consisted of about 50 members of Team, which markets all segments (car, light truck, truck) of the Sava brand exclusively in Germany. The new tyre is the first new product development since Goodyear took over almost two years ago. It derives directly from the Luxembourg research and development centre and is thus destined to represent Goodyear state of the art technology. What this means and how the Effecta could support Sava raising brand awareness in Western Europe which is one of the tyre manufacturer’s most important aims can be read in the April issue of NEUE REIFENZEITUNG.
Continue ReadingSuperior Repurchases Shares
Superior Industries Int., North Americas leading manufacturer of original equipment aluminium wheels, has decided to repurchase 4 million of its 26.1 million outstanding shares. New orders of more than $ 350 million in the last twelve months has allowed an aggressive expansion of capacity, but the positive developments are not reflected in Superiors stock price.
Continue ReadingTitan Announces Dividend
Titan International (Quincy, Illinois), manufacturer of wheels and tyres for off-highway vehicles, has announced a cash dividend of $ 0.015 for the first quarter of 2000. In 1999 Titans sales declined and a net loss was recorded.
Continue ReadingADAC Defects Statistics For 1999
German automobile club ADAC has published its yearly statistics of car defects. In three of four categories, the compact-, the lower middle- and the middle-class, Japanese cars are in the top positions. European car manufacturers were top only in the upper-class segment.
Continue ReadingCooper’s First Quarter Sales Higher Than Expected
Cooper Tire has announced higher-than-expected sales for the first quarter of the year. One explanation is increased selling activity by tyre dealers, trying to beat Aprils price increase of 3% to 5%.
Continue ReadingOnline-Tyreshop From Continental
During the annual shareholders meeting of Continental, the tyre manufacturer announced that it is going to build up an online tyre shop which will go live at the beginning of next year. At first he offer will contains passenger car tyres and service, and later complete wheels and car accessories will be included.
Continue ReadingEuropean Down-trend Halted: Michelin With New Product Lines And New Strategies
Since the early 90s, French tyre maker Michelin has continuously lost market share year on year in the passenger car and light truck sectors. The company used to have a 25% market share Europe-wide and this had fallen to 17% last year. According to Michelin, prices were too high vis-a-vis those of major competitors and were no longer competitive, as the end user is prepared to pay only around 10-15% more for a premium product. The necessary price cuts can only be achieved if the company is able to increase productivity. Market experts are convinced that the productivity of Bridgestone/Firestone exceeds that of Michelin by 40%. Michelin is currently undergoing a restructuring programme which will lead to the job losses – or at least early retirement – of around 10% of the European workforce over the next three or four years. Jean Michel Coulon (52), head of the passenger and light truck tyre division in Europe expressed confidence in talks with this magazine that the erosion of market share has now been halted once and for all. Coulon made it clear that he is not aiming to gain market share – his goal is to stop the erosion of market share, to implement an effective multi-brand strategy, to improve the product mix and, finally, to avoid a price war.
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