As mentioned on 30 July, Goodyear Tire & Rubber’s second quarter net earnings per share of US$0.67 were markedly above the average analyst estimate. Deutsche Bank Equity Research Automotive comments that Goodyear’s Q2 operating earnings per share of $0.76 were a full $0.32 cents per share above its own prediction.
Although India’s Automotive Tyre Manufacturers Association recently expressed a measure of dissatisfaction about the domestic rubber situation, member company MRF Ltd’s latest quarter results show profits that have been helped by the commodity. In the three months between 1 April and 30 June (the third quarter of MRF’s financial year), the tyre maker’s net profit leapt 57.2 per cent to Rs 2.27 billion (£25.0 million).
In June Snap-on launched the Ethos Plus, a new entry level diagnostic tool. According to the company the Ethos Plus is a “compact, fast, accurate and versatile tool for solving today's diagnostic problems, designed for either the first time user – or for the experienced technician looking to add to their diagnostic toolbox”. The tool offers broad coverage of 30 manufacturers and functions including engine transmission, ABS, airbag, TPMS, hybrid power, body and climate control.
Continental’s Nikolai Setzer recently outlined the company’s intention to invest in non-automotive areas (more on this in Tyres & Accessories’ August magazine), but his comments by no means indicate a drawing away from the automotive business. The German firm’s continued interest in this area could be seen at the groundbreaking for the new extension to its research and development centre in Singapore.
UK-based WheelRight is aiming to “revolutionise tyre management across the automotive sector”, with the launch of a tyre-monitoring system designed to help the transport industry save “billions of pounds each year”. According to the company, the product enables critical tyre characteristics to be sent to a mobile phone within seconds, without the driver having to leave the vehicle and without the need for sensors to be fitted to the vehicle.
Serbia’s Ministry of Finance and Economy has published its list of the country’s leading exporters in the first quarter of 2013, and the automotive sector was amongst the major contributors in this area. Third on the top exporter list, behind Fiat Automobili Srbija and the Petroleum Industry of Serbia (NIS), was Tigar Tyres.
In its April-June interim report, Trelleborg reports a 5.6 per cent year-on-year rise in sales for its Wheel Systems business area, with net sales amounting to SEK 1,111 million (£111.4 million) during the quarter. The company states that sales of agricultural tyres were level with the year earlier period, while sales of tyres fitted on materials handling vehicle were weak during the quarter, primarily in Europe. Operating profit remained at a similar level to a year earlier, rising 3.0 per cent to SEK 137 million (£13.7). Operating margin declined from 12.6 per cent to 12.4 per cent.
Ongoing concerns over the availability of natural rubber have prompted India’s tyre makers to cast an envious eye on supplies from outside the country. Now the Automotive Tyre Manufacturers Association (ATMA), the organisation representing ten of India’s tyre manufacturers, has handed the country’s Commerce Minister a statement saying the tyre industry will more strongly rely on rubber imports.
On 18 June 2013 Apollo Vredestein Introduced its latest UHP winter tyre. The Wintrac xtreme S was designed in cooperation with Italian design house Giugiaro; a partnership that also led to the success of products such as the Ultrac Sessanta and Ultrac Vorti. To celebrate 15 years of cooperation, the introduction of the Wintrac xtreme S took place in Turin, the home of Italdesign Giugiaro and the hub of the automotive industry. The “style” element also explains why the latest version of the xtreme features an “S” in its name.
Chippenham constituency MP Duncan Hames has welcomed the news of Cooper Tire & Rubber’s receipt of £1 million in funding from the Department of Business, Skills and Innovation’s Regional Growth Fund. The funding will be backed by private investment amounting to £4.3 million and will allow Cooper Tire to build a combined heat and power plant at the factory and install solar panels on the roof – measures aimed at improving energy efficiency and making the site more environmentally friendly.
On 5 August, Stuart Crum will begin as Bridgestone Retail Operations’ new president. He fills a position left vacant by the departure of Matt Hoskins last November.
The Parts Alliance has announced the appointment of David Bloxham as national key account manager. He joins the growing National Accounts team, based in Solihull, during what he describes as “an exciting time of growth for the [automotive] aftermarket.”
BEN, the automotive industry charity will be celebrating its 108th birthday and the arrival of a new member of staff, Benjamin Bear, during the week 15th – 21st July 2013. The annual celebration, National BEN Week, has become a focus for many supportive industry concerns and this year, with the new theme 'Bear Us In Mind', fundraising expectations are running high. The ‘Bear Us In Mind' theme aims to encourage automotive companies to get their staff involved in having fun whilst raising awareness and funds for the charity. The suggested minimum target of £108, in recognition of BEN's age, reflects 108 years of care and support for automotive industry people.
Kwik-Fit has once again found itself at the centre of unwanted attention after a BBC consumer programme accused it of recommending work that didn’t need to be done and of failing to properly carry out free tyre safety checks. On 10 July, the “Your Money, Their Tricks” programme mystery shopped 10 Kwik-Fit branches with 10 different cars. The cars, which were of various ages and models, had been pre-inspected by a forensic engineer and had been prepared in order to demonstrate whether checks had been carried out. Similar allegations were made by the BBC’s “Watchdog” programme in September 2010. But this time it was rather tackily presented, as the title of the programme and the in-show caricatures demonstrate.
Britain is to get a new race track, following Blaenau Gwent County Borough Council’s approval of plans for the construction of what will be known as “Circuit of Wales”. It will host all types of racing except Formula One according to news sources.
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