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Goodyear has gained two awards at the Asia Responsible Enterprise Awards (AREA) ceremony, held on 28 June 2024 in Ho Chi Minh City, Vietnam. The awards recognise the company's commitment to sustainable and responsible business practices.
On 27 June 2024, Halfords Group plc reported preliminary unaudited financial results for the year ended 29 March 2024. In short, the well-known automotive retail business reports that sales were up, but pre-tax profits were down amidst ‘major restructuring of tyre supply chain’ in 2024, which is a reference to the sale of the Viking International business to Bond International during the period.
Specialty chemicals producer Orion S.A. is installing multiple tyre pyrolysis oil (TPO) tanks at its plant in Jaslo, Poland. The company states that this installation is its “latest move toward boosting production of circular carbon black.”
In collaboration with several partners, Sumitomo Rubber Industries, Ltd. has achieved a further breakthrough in tyre technology. SRI teamed up with experts from institutes within Japan to develop a new synchrotron radiation technique that can measure the motion of atoms, molecules, and nanostructures within an extremely short timeframe, including down to 1 nanosecond. With this advancement, the Falken brand manufacturer anticipates enhancing its tyres’ strength and wear resistance.
Cosmos is the name Michelin has given to a new machine now operating at its Troyes plant in France. The tyre maker is using Cosmos in its agricultural tyre production and says that the machine, which takes into account factors such as size, weight and material technology, is “more efficient and more ergonomic” than prior technologies.
Marking a journey of 59 years since its establishment in 1965, Aeolus Tyres counts itself as an OTR pioneer in China. Indeed, Aeolus reports that it produced the country's first bias giant OTR tubeless tyre (36.00-51) and currently has the capacity to product radial giant tyres with specifications that includes 27.00R49, 33.00R51, 46/90R57, 50/80R57 and 53/80R63.
The Yokohama Rubber Co., Ltd., is planning to invest 1,960 million yuan (roughly ¥36.7 billion; £212.8 million; 250.5 million euros; $269.7 million) in the construction of a new passenger car tyre factory to serve domestic Chinese demand. Production at the new plant is scheduled to start in the second quarter of 2026. The new plant will be located in the Qiantang New District of Hangzhou City, Zhejiang Province, and will have an initial annual production capacity of 9 million tyres, with further expansion “to be considered in the future”.
Goodyear has unveiled plans to extend its UltraGrip Performance 3 winter range throughout 2024. During the year, the tyre maker will introduce more than 40 new SKUs to the market. Many of these additions are already available, and Goodyear says this significant expansion will not only enhance its market presence in the winter tyre segment but also reflects its focus upon the segment.
Guizhou Tyre might not be the most familiar name in the business, but the Chinese tyre manufacturer – which is best known by its Advance and Samson brands – is working to change that with the establishment of a European organisation, TUV SUD testing its latest truck tyres, and there’s even talk of investment in a tyre factory outside China and car tyre production.
Our latest “world's largest tyremakers" data based on the key figures for the 2023 financial year sheds light on several developments that have recently characterised the tyre market. On the one hand, there is the development of sales, which have at best moved sideways for many manufacturers compared to 2022. On the other hand, there is also the development in terms of ranking: here it is clear that companies from China are increasingly operating on an equal footing with the long-established manufacturers from Europe, America and Japan and now even have a new number 10 in the race with the Sailun Group. However, it is also clear that our ranking shows a stable "balance of power" overall.
Triangle Tyre and RH Claydon will exhibit together from 25 to 27 June at Hillhead Quarry in Buxton, the UK’s largest quarrying, construction, and recycling exhibition. According to the company, Triangle Tyre Co., Ltd is the fourth largest tyremaker worldwide when it comes to radial OTR tyres. Established in 1953, R.H. Claydon is the official distributor of Triangle OTR tyres in the UK. RH Claydon and Triangle Tyre are hosting customers on a 144 square metre stand.
Leading Indian truck and bus radial (TBR) manufacturer, JK Tyre & Industries has introduced its new and advanced range of commercial tyres for the transportation sector. The company introduced four new variants, the Jetway JUM XM, Jetway JUC XM, Jetsteel JDC XD, and the Jetway JUXe for electric buses. JK Tyre states that the expansion of its product portfolio underscores its “dedication to providing advanced, high-performance solutions that combine superior performance, economic benefits, and environmental responsibility.” It said the launch was a “significant milestone” in its commitment to driving sustainable mobility solutions; the tyres are designed to enhance performance, operational efficiency, cost savings and sustainability.
Following Friday’s free practice at the Spanish Grand Prix in Barcelona, Formula 1’s exclusive tyre supplier Pirelli noted the presence of five drivers from five different teams in the top five places, saying the grid looks “very evenly matched.” The quickest time was set by Lewis Hamilton in the Mercedes (1’13”264) with fifth placed Max Verstappen in the Red Bull (1’13”504) making a gap of only 340 thousandths covering five drivers. In between were Carlos Sainz (1’13”286) in the Ferrari, Lando Norris in the McLaren (1’13”319) and the Alpine of Pierre Gasly (1’13”443).
Tyres & Accessories’ monthly 'Tyres News in Numbers’ column boils down the latest tyre industry news to the most important statistics of the month. Below, we look at the big numbers from the June 2024 magazine... 13.6 billion yuan: The revenue – equating to £1.476 billion or €1.732 billion – generated by China’s biggest online tyre retailer, Tuhu, which went public at the beginning of this year.
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”.
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