Firestone Settles Law Suit In Texas
Firestone has settled a court case pending in Texas, paying the person injured due to an Explorer Rollover 7.5 million US-Dollars. Earlier last month Ford and a Ford Dealer already agreed to pay 6.5 million US-$ according to articles in major US newspapers.
Continue ReadingEurope Tries To Have Brazilian Retread Ban Removed
The European Commission, and BIPAVER are in negotiation with Brazilian and Argentinean authorities to try and raise the prohibition of the ban on retread imports which the EC considers protectionist and a restriction on Free trade. The EC is preparing to take the case to the World Trade Organisation, which will allow compensation claims to be made and possible commercial retaliatory barriers to be imposed.
Continue ReadingOn The Way To Chassis Control
Conti Temic is present at IAA for the first time, along with Continental ISAD, ADC, ContiTeves and Continental Passenger Car Tyres. In addition to the latest in technology, the company is introducing several projects on the way to the intelligent chassis, for example, the much acclaimed 30-Metre Car. Synergies between tyres and brakes are not the only aspect of Continentals vision of the future. The steering, axle modules and air suspension systems will all be integrated into the system.
Continue ReadingSlight Rise In Turnover For Goodyear In Third Quarter
Goodyear Tire & Rubber has announced worldwide sales in the 3rd quarter of $3.7 bn (Q3 2000 = $3.6 bn). Net income for the same period was $9.3 million, compared to $17 m for Q3 last year. For the first nine months of the year, the company posted a net loss of $29.6 m, compared to net income of $142.3 m for the equivalent period in 2000. Sam Gibara spoke of a general economic slowdown and tough market conditions in many regions. However, one plus point for the company was a market share gain of 3 per cent in the US replacement tyre market.
Continue ReadingLower Profits Warning From Nokian
Nokian Tyres has warned that its profits for its tyre chain in the fourth quarter, and for the year as a whole, will be lower than expected, although group sales and profits developed as expected during the autumn. The reason cited for lower sales was the mild winter so far in Nordic countries, which depressed sales of winter tyres.
Continue ReadingFormula 1: The winner will not only be a tyre, but Michelin
It was December 1999, when Michelin announced its comeback to the Formula 1. In the 80s the French company held a leading position and withdrew after having proved to itself and the world that it could build unbeatable racing tyres. When the 2001 Grand-Prix season starts in Melbourne on March, 4th it will also be the start for an additional tyre supplier called Michelin. BMW/Williams, Mild Seven, Benetton, Renault Sport, Jaguar Racing and Prost Grand Prix have already chosen Michelin, and Toyota will join the club next year. So far, the Japanese Bridgestone seems to have an advantage. As suppliers to Ferrari and McLaren Mercedes they are already covering the favourites with four winning cars, whilst the other teams have to come from behind. There are various reasons for these racing teams to have chosen Michelin. Renault and Michelin simply belong together. And that Toyota, the motor-car company is fighting for points all over the world on Michelin tyres isn’t a minor consideration. At the press conference Edouard Michelin appeared as a truly enthusiastic company leader with a sense of sport. Michelin is not some newcomer to the scene who does not know what’s going on. The team around Edouard Michelin know this and that is why they are competing. They want to prove to themselves and the world, that there is only one company able to build the best tyres in the world: Michelin! Hence, Edouard Michelin enthusiastically let himself get carried away to imagine that in the future people will say that Formula 1 will be won on Michelin. The winner runs on Michelin, all others are on tyres.
Continue ReadingNo Recommendation For Goodyear Shares
UBS Warburg have placed Goodyear shares on Hold and is of the opinion that under current conditions a price of 15 dollars would be justifiable, per share. This figure is much lower than the current 25 dollar price. Goodyear shares in the past 12 months have fluctuated between 29.50 and 15.60 dollars.
Continue ReadingGood News From India For Bridgestone
According to JD Power Asia Pacific 2001 India Tyre Survey, Bridgestone lead the market in customer satisfaction. The survey compares satisfaction with OE tyres at 12-18 months of ownership. The Bridgestone brand comes top in three out of four elements of the survey, appearance, traction and performance. Six tyre manufacturers and eleven vehicle manufacturers were involved in the survey.
Continue ReadingAnother Recall For Firestone
After last years disaster, Firestone is now making a voluntary recall of 98,000 Firehawk GTA-02 tyres. The size is P205/55 R16 and the tyres were mostly fitted as OE on Nissan Altima sedans in the USA. The problem is an over-wide steel belt which could lead to cracking at the shoulder – the design has since been modified. Both Bridgestone/Firestone and Nissan stress that the move is purely precautionary and that there have been no tread separations, accidents or claims associated with the tyre.
Continue ReadingBoom In Alloy Wheel Original Equipment
Car makers in a lot of markets grieve over significant reductions in new car registrations. One should not forget that, for most suppliers, from whom parts are needed for the production of cars, the consequences are negative also. But not for manufacturers of light alloy wheels: a flood of special car editions and generally growing fitment rates – in comparison with steel wheels – means that the European aluminium wheel manufacturers are selling all that they can produce. New facilities are even having to be built. The aluminium wheel in original equipment changes from a part which raises the value of a car to standard fitment, even for middle class vehicles. In spite of these favourable conditions, the sector is under pressure. The middle-class structured alloy wheel manufacturers cannot resist the downward trend of prices, caused by the car manufacturers. This is especially so because the purchase of this product happens more and more on a global scale. Besides this, the number of possible oe suppliers of cast aluminium wheels is still enormous. A process of consolidation (as in other segments supplying oe) has not happened, until now.
Continue ReadingTyrexpo Europe Review
This years Tyrexpo show was held only a matter of weeks before a rival exhibition, being run alongside an already-successful aftermarket exhibition. It would be naïve to believe that the existence of two shows so close together has had anything but an adverse effect on both events, and the fear was that the tyre industry would be the loser if we had two bad shows. The total number of visitors to Tyrexpo Europe was a disappointment, but many of the exhibitors expressed themselves satisfied with the quality of visitors. Opinions were polarised – some were happy, others not, some said that the UK needs a dedicated tyre show, others were not so sure. One thing on which all were agreed is that we cannot afford the same two-exhibition situation in two years time. Our review covers exhibitors reactions – warts and all.
Continue ReadingWilliams-BMW Successful Because Of Michelin Tyres
Formula 1 Champion Michael Schumacher believes that the secret of the Williams-BMW team lies in the Michelin tyres. Michelin seems to have done a good job so that Williams-BMW has become competitive, the Ferrari driver told La Gazzetta dello Sport, during team testing in Mugello. I would have thought that Bridgestones advantage would have lasted longer, said the German, who has Bridgestone tyres on his Ferrari, whereas brother Ralf uses Michelin tyres on the Williams-BMW.
Continue ReadingExpansion Of Production For Goodyear, Michelin
In the wake of the Firestone recall, Michelin says it has tripled tyre production in the USA as well as shipping thousands of tyres from Europe. A special customer service centre is handling 8,000 calls a day. Goodyear plans to provide more than half of the tyres replaced because of the recall and has increased production of Ford-approved tyres tenfold. The company has increased shipments to 9,000 outlets, including company-owned stores, independent tyre retailers and Ford dealers.
Continue ReadingNew Danish point S Members
Danish group Dek Ringen, with 31 members and 35 outlets, has joined the European point S network. The cooperation already had 700 outlets in France, Germany, Italy, Belgium and The Netherlands. The European Tyre Coordination Committee (ETC) coordinates all activities of point S members across Europe.
Continue ReadingSUVs Come Under Fire In The USA
It is not only the Ford Explorer that might show a tendency to rollover in critical situations; the US Consumer Report has revealed through its own tests that the Mitsubishi Mondero (known in Europe as the Pajero) shows a tendency to lift two wheels in critical situations. That, according to the magazine, is not acceptable and is a safety problem. Mitsubishi denies that there is any safety problem at all.
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