In the days preceding President Trump’s official global tariff announcement and Goodyear’s resultant share price bounce, Deutsche Bank analysts upgraded their rating on Goodyear Tire & Rubber stock from Hold to Buy. The upgrade signalled Deutsche Bank’s growing confidence in Goodyear’s operational strategy and its ability to deliver the goals of its turnaround strategy.
Unit sales of both all season and winter tyres grew in the UK, comparing the period April 2023 to March 2024 with the previous 12-month period. However the character of each segment is very different, as we can see from the latest data on this segment from market analysis firm GfK. The most recent generations of all season tyres from premium manufacturers, broadly dated from the introduction of the first Michelin CrossContact, and latterly from brands at lower price points, have helped to establish these tyres with wider temperature operating windows as a strong growth segment.
On the evening of 31 July, Goodyear presented its Q2 2024 financial results, some of which showed significantly improved operating results and profit margins. But this didn’t impress investors, who from the figures identified something of particular significance to the tyre maker’s future development. Analysts subsequently reported that Goodyear is cutting costs everywhere on its return to long-term profitability. This is starting to have an impact on sales, particularly in the US domestic market.
Financial analysts have reiterated their “buy” rating on Continental AG shares, while also raising price target from 150 euros from 123 euros previously. In short, Continental AG is expected to continue outperforming consensus estimates. Writing in an investors note dated 18 November, Jefferies equity research said: “Tyre margins will return to an industry leading greater than 15 per cent in full-year 2021. Conti remains among the least liked stocks in the sector which provides positive surprise potential.”
JATO Dynamics, which provides global automotive data, has David Krajicek as its CEO, effective 13 April 2020. Dr Krajicek has over 25 years’ experience. He joins from GfK where he had been at the helm as CEO of GfK Research since 2017.
Goodyear’s share price picked up by up to 1 per cent during early trading on 12 December 2018, having risen 0.56 per cent by the close of the previous session (up from $21.59 to $21.71). Considering that the value of these shares fell -8.70 per cent during the preceding seven-day period, and experienced a loss of -1.76 per cent over the past 30-day period suggests this is a significant uptick. In addition, when you compare this with the 1.5 per cent one-day drop all tyre majors experienced in October when Michelin warned that demand was softening, it appears that the share price is bouncing back.
HTF MI has released a new market study on run-flats. The research study, which provides forecasts the size of the run-flat sector till 2025, suggest Bridgestone, Michelin, Goodyear, Continental, Pirelli, Hankook, Sumitomo Rubber, Yokohama, Giti, Kumho and Cheng Shin Rubber are key players.
KPMG has appointed Ed Thomas as its UK head of transport with immediate effect. Thomas joined the firm as a graduate in 1995 and was promoted to partner in 2013. He has been central to KPMG’s transport advisory business since he joined. Specialising in rail, he has led both policy reviews for Government and bidding engagements for the private sector in the UK. With a wide international grasp of the sector, Ed has also led rail projects in North America and Southeast Asia. Beyond rail, he advises public sector transport authorities on the funding of new infrastructure.
KPMG has appointed Christoph Domke to lead its Commercial Mobility function as a director within its Mobility 2030 practice. The professional services firm’s Mobility 2030 practice provides global insights and support to help clients in sectors including automotive, energy, infrastructure, retail, telco and government to position themselves for future success.
The UK economy grew 0.6 per cent in the October-to-December period. Taking the year as a whole, the economy grew 2 per cent, 10 per cent slower than the growth of 2.2 per cent achieved in 2015. Good news, I hear you say. But, as with many things in life, the details tell a more complicated story.
Many sources, such as the BBC, contend that this better-than-expected growth is because of increased consumer spending during the last quarter of the year. However, it is also worth pointing out that UK car production achieved a 17-year high in 2016, according to the latest figures published by SMMT. This comes at the same time that the motor manufacturer’s association reported new car registrations of just under 2.7 million for the year – itself another record. This being the case, it is worth taking a closet look at the figures and the messages give us in the inextricably linked tyre sector as well as the economy as a whole.
A new industry data service set to deliver fast and insightful tyre sales data views and reports for mainland UK and Northern Ireland dealers and subscribers, is being launched this month.
After 20 months of development and two delayed launches, Encircle Marketing has rolled-out the first phase of its new corporate website and reporting centre.
According to the company, the completely re-built corporate site coupled with user login portal, gives Encircle a fresh and modern look after eight years of reporting to the tyre industry.
The International Tyre Colloquium has a history in discussing the latest progress in the understanding and simulation of tyre-road-vehicle interactions. The first Tyre Colloquium was organised by Prof Pacejka in 1991 (Delft), the second one was in Berlin in 1997, organised by Prof Böhm and Prof Willumeit, and the third one was in Vienna in […]
Following the publication of Michelin’s full-year 2014 results and 2015 guidance, some financial analysts described the figures as “light of expectations”. This, they said, was expected to lead to falls in Michelin’s share price in response. But the share price didn’t fall, in fact it was up about two cents by the time the markets close on 11 February, the day after the figures were announced.
On 27 January the UK economy registered growth of 2.6 per cent in 2014. Of course it has not been the same across Europe, but with record new car registrations in the UK and 32 consecutive months of growth in that figure, you could be forgiven for asking why the UK tyre market came out as flat according to both the sell-in and sell-out measurements in 2014. At the same time it is important to set all this into its wider European context, something which this month’s analysis of the passenger car tyre market attempts to embark on.
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