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Jinyu Tire Group hosted the groundbreaking ceremony of Jinyu (Vietnam) Tire Company Ltd’s 2 million tyre a year factory in Phuoc Dong Industrial Park, Tay Ninh Province, Vietnam on 18 June 2020. Local industrial park leaders as well as customer, supplier and construction representatives attended on the behalf of Jinyu Tire Group partners in light of the Covid pandemic
Sailun global brand RoadX Tyre has become the official tyre partner of West Ham United Football Club, in a three-year deal. RoadX was launched in 2019, with car and commercial products focusing on comfort and durability. The brand is linking its recent foundation to West Ham’s reputation as ‘The Academy of Football’, with a youth development system that has forged the talents of many future stars.
In previous features on commercial vehicle tyres, Tyres & Accessories has noted the varied effects European Union tariffs on product manufactured in China have had on the market. Questioning whether the tariffs have “worked” is a complex question, because their effect on new tye segmentation and retreads have been varied across Europe’s major markets. Truck tyre markets in France and Germany reacted in very different ways to the UK, at least partially because the latter market was contracting anyway.
The latest global tyre market share figures from tyre industry analyst Astutus Research show how long-established, leading players headquartered in Japan, Europe, and North America have seen their volume share diminish, while Chinese, ASEAN, and selected other markets’ tyre manufacturers’ share has risen. The analyst states that in aggregate, the ten leading PCLT tyre manufacturers based in Japan, Europe and North America (J-E-NA) have lost almost 6 percentage points of market share since the end of 2011 (OE and replacement segments combined, volumes in tyre units). In part this reflects a strategic choice of some to focus on the higher value premium segments of the market.
This report, published by Astutus Research in association with Tyrepress, provides a highly detailed assessment of the European PCLT industry, including forecasts of market development to 2023. “Future Dynamics of the European PCLT Tire Industry” is researched and written by market experts, with several decades of experience analysing the global tire industry. Previewed within the supplement, European Passenger Car and Light Truck Tyre Manufacturing, the full report by the leading analyst of the automotive aftermarket gives tyre professionals a complete picture of the European tyre distribution chain and represents essential reading.
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Beleaguered wholesale and tyre services company Kings Road Tyres is now in administration, with KPMG appointed joint administrators. The administration comes at the end of nearly a decade of turbulence for the company, which is one of the UK’s oldest tyre wholesale operations, having been incorporated in 1959.
The NTDA has announced the finalists for its 2019 Tyre Industry Awards. The awards, sponsored by tyre manufacturer Sailun, will be presented at the association’s 90th Annual Dinner on Thursday 3 October at the International Convention Centre (ICC) Birmingham. The dinner is sponsored by tyre wholesaler Land Tyre Service, while the awards will be hosted by popular TV comedian Mark Watson. The 2019 finalists include former award winners, finalists, and some new nominees.
This month’s magazine includes our annual leading tyre manufacturers table (click here for more). Ranking the world’s biggest and big tyre firms in this way gives everyone a baseline reference for gauging different firms’ performance and – if previous years are anything to go by – it can be a real conversation starter as well.
Cooper Tire has seen sales and profits rise in North America, while international figures have declined considerably. Overall, this amounts to small increases for the company. The company’s international operations (outside the Americas) loss of 1 million dollars is 8 million dollars down on the operating profit of 7 million dollars in the first quarter of 2018, which is largely explained by the 5 million dollars it has spent in ending light tyre production in Melksham, Wiltshire. Cooper expects these charges to amount to between 8 and 11 million dollars in the total year.
Shortlisting has taken place for the Auto Bild 2019 summer tyre test, with a starting field of 53 candidates reduced to 20 finalists in the initial round. The size 225/45 R17 91/94 W/Y tyres selected for further testing mainly come from the premium and mid-range segments, while the budget segment was well-represented in the group of 33 tyres eliminated from proceedings. Disappointingly, the group also included two tyre brands belonging to leading manufacturers – both delivered ‘bottom ten’ results.
When you look at Tire+’s deliberate proximity to a premium car show such as Auto Guangzhou, the first thing that comes to mind is original equipment (OE). If we take a comparable European equivalent event such as the Geneva Motor Show as an example, most of the leading global tyre players as well as some of the larger up-and-coming brands use Geneva as a way of showcasing new technologies and products in order to generate additional OE tyre sales as well as the benefit of the enhanced ongoing tyre replacement sales that come with the so-called OE pull-through effect. While it is not as linear and transactional an equation as investment in a motor show equals OE contracts, it clearly is an important part of the corporate courtship ritual. Surprisingly, things are a little different in China.
With the striking of a ceremonial gong, Prinx Chengshan (Cayman) Holding Limited went live on the Hong Kong Stock Exchange at precisely 9:30am on 9 October. The tyre maker’s listing last month followed nearly a year of preparations and represents an important step in a growth and internationalisation strategy that also includes producing in Southeast Asia and making greater inroads into European and North American markets.
Martin West retired as global president of Maxam Tire International Limited. He left the Sailun Group company at the end of last month and has been succeeded by Troy Kline. The president of Maxam Tire North America has assumed full responsibility for European operations.
The European Union has made its conclusive statement on the introduction of anti-dumping tariffs on truck and bus tyres and retreads manufactured in China. As previously announced, the EU will impose fixed rate anti-dumping duties on the products, with the final regulation 2018/1579 implemented from 23 October. This ends speculation that percentage rates could be applied. In fact, the EU has revised tariff levels up, almost across the board.
Visiting CITExpo in 2018 had the potential to be a gloomy affair. A trade show that has specifically targeted medium-sized tyre Chinese manufacturers as a gateway for raising global interest, the trading environment in major export markets in Europe and North America have not been the most hospitable, with tariffs or anti-dumping duties affecting various product segments. In the UK, we heard from a major Chinese truck tyre importer that business had effectively been put on hold with the announcement that the EU was imposing tariffs in May. Pressure had also been mounting domestically, as the Chinese government moved to bring a halt to production at factories it considered to be too polluting, which led to upstream supply chain problems, as raw materials suppliers to the tyre industry were among those affected.
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