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The prices of shares in Indian tyre manufacturers have fallen back after rallying last week prior to the Easter weekend. According to local news sources, the shares of tyre companies plunged by up to 8 per cent each. The fact that one of the largest domestic tyre makers, MRF, reported a decline in net profit for the quarter ended March 2014 was said to have been the main precipitating factor.
This year, Nokian Heavy Tyres is introducing a new winter tyre aimed at contractors such as those engaged in winter road maintenance and snow clearing. Nokian claims this new addition to its portfolio, the Hakkapeliitta TRI, as “another first from the inventor of winter tyres” and says it introduces totally new technologies that will benefit users in winter contracting and snow clearing businesses. These innovations include a “revolutionary tread design, tread block siping with siping activators and specially designed winter tread compound”; features said to “ensure that the user has superior traction and the best possible handling without compromising the economy of use.”
After receiving nearly 15,000 unique submissions for its ‘Name the Blimp’ contest, Goodyear has published its shortlist of names for its newest blimp, which took its first flight in mid-March. The ten finalist names are:
The strength of the P Zero White medium tyre following a start in which most used the soft P Zero Yellow allowed the top 15 to complete two stops only on the demanding Shanghai circuit, Pirelli said. Formula One’s exclusive tyre supplier had anticipated increased wear as a result of very long corners and high G-forces, but the 2014 tyres’ increased durability allowed Mercedes’ Lewis Hamilton to use a two pit stop strategy to win, following a long second stint.
An individual company has no say over the economy, nor can it order the weather conditions that best suit its requirements. But it can adapt to these variables, and prosper. Although the past year was a challenging one for tyre wholesalers in Europe, Netherlands-based wholesaler Van den Ban Autobanden B.V. has continued to invest time and resources in projects that will help it move forward in the current environment. Commercial manager Cyril Versteeg and Leonie de Wit of the marketing department recently shared details of these developments with Tyres & Accessories.
Heuver Tyrewholesale is promoting its exclusive distribution of its own brand “Athlete Wheels” in Europe. Heuver reports that it has been able to compile “a complete range of wheels that meets the latest trends in the European market.” The Athlete Wheels range features steel wheels suitable for trucks and trailers. The range now also includes sizes 11.75-19.5 ET120 and 14.00-19.5 ET120 for the latest BPW Ecodisc axles.
The share prices of India’s leading tyre companies surged in value on Good Friday prior to the Easter weekend. Overall shares of Indian tyre companies shot up by up to 17 per cent, accompanied by heavy volumes reportedly due to “expectations of higher revenue growth during the current fiscal”, according to local news sources. Apollo Tyres, Ceat, Goodyear India, JK Tyre Industries, Balkrishna Industries and TVS Srichakra all rose by between 4 and 17 per cent each on the Bombay Stock Exchange (BSE) during Friday’s trading.
Continuing our coverage of developments in the UK tyre retail sector, Tyres & Accessories reports on the following 15 companies in its 2014 top 20 leading UK tyre retailers report. After the market leading five, the next five companies in the top 20 are the fastest growing in our ranking, and probably in the market as a whole. Like Micheldever/Protyre, McConechy’s Tyre Service has grown significantly since our last survey, adding seven branches to its number and pushing its total up to 52. This brings the company’s total back to pre-recessionary levels and could be read as another indication of improving conditions in the market.
Continued branch attrition at some of Britain’s largest tyre retail chains means the line between the top five and the rest of the top 10 has continued to blur. Furthermore, we now have three 50+ branch retail chains outside the top four (which are all 100+) for the first time since Tyres & Accessories started tracking this data five years ago.
The state of various European economies varies significantly, there are signs that the tyre markets are picking up and – if some of the large tyre makers’ recent financial reports are anything to go by – premium tyre sales are what are needed to turn green shoots into green backs.
Following the news that the government is consulting the market on the full implementation and enforcement of tyre labelling legislation in the UK, the NTDA has shared its views on both the process and its response to the consultation.
According to the NTDA, the government consultation proposal can be summarised like this: “The department has appointed a tyre enforcement authority (the National Measurement Office) which will be responsible for organising a risk-based market surveillance approach and for the application of appropriate enforcement measures that impose the minimum burdens necessary to meet our EU obligations.
Endurance racing event series the 24H Series has a new title sponsor. Hankook Tire replaces Dunlop in this role and serves as exclusive partner for what is now called the 24H Series powered by Hankook. The tyre maker will also lend its name to various events held during the season, such as ‘Hankook 12H Zandvoort’, ‘Hankook 12H Hungary’, ‘Hankook 24H Dubai’ and ‘Hankook 12H Italy-Mugello’. The 24H Series includes endurance race events for GTs, touring cars and 24H Specials, and depending on weather and track conditions, Hankook will supply endurance tyres from the Ventus Race slick or rain range.
Business within the European retreading market is being subjected to centrifugal forces. While the tyre majors who supplement their new tyre portfolios with mould cure retreaded lines increasingly monopolise the growing premium segment, the budget segment is also enjoying growing attention. Competition is stiff in both segments and mid-range suppliers find themselves under increasing pressure, and as a consequence are striving to reposition and – particularly on the flanks of their markets – more broadly position themselves. The latest company to introduce a clear multi-brand strategy is Bridgestone Bandag. Its “premium Bandag retreading brand” will retain its strong position at the upper end of the market, and has been joined by a new product line for the budget market: “Protread by Bandag”. Speaking with Tyres & Accessories, the company outlines its plans and motivations.
A lot has been said about the tough year in our market during 2013 and the reasons for this, but despite such talk many larger wholesalers managed not just to turn a profit, but to enjoy a very good year. Deldo Autobanden N.V. was one such company; sales and organisation director Tom Van Dyck tells Tyres & Accessories that while the Belgian wholesaler’s results last year weren’t on the level experienced between 2010 and 2012, they were still the fourth or fifth best in the company’s 40 year history.
Pirelli has heavily invested in the commercial vehicle tyre segment for a number of years now. This investment has covered the development of technologically-advanced tyres and the company’s outstanding fleet segment service portfolio. The overall aim is to minimise vehicle operating costs, which today represents the central criterion for companies needing to mimimise cost per mile in order to remain competitive within their respective markets. Following this logic, retreading naturally plays an increasingly strategic role.
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