Doublestar tops 2024 China tyre brand influence list
Several Chinese research institutions recently jointly released the “2024 China Brand Influence Index Report”. In the report’s “Top 10 Tyre Brand Influence” list, Doublestar ranked first.
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Sale “out of necessity” – Further details of Yokohama’s purchase of Goodyear OTR
Following the news that Yokohama Rubber will buy Goodyear OTR eight months after Goodyear put the business unit up for sale as part of its “Forward” rationalisation scheme, further details of the transaction have emerged. In short, Yokohama opted for a far lower valuation calculation in the purchase of Goodyear OTR than it did when buying Trelleborg Wheel Systems a year or so ago; has specifically gained Goodyear OTR brand rights; and the Goodyear Luxembourg OTR tyre operation does not form part of the sale to Yokohama.
Oak Group to launch Envoy Tyres ‘value’ tyre brand at The Tire Cologne with 4 initial tyres
Oak Group Holdings, the parent company of Davanti Tyres and wholesaler Oak Tyres, will launch a second proprietary tyre brand at The Tire Cologne next week. Envoy Tyres is styled as a “new, value tyre brand” with a mission to “deliver exceptional value and quality,” and will reach the market with a range of four initial products in the last quarter of 2024. All four products will be available to preview at Koelnmesse (Hall 6.1, Stand E-038; 4-6 June). Oak Group will follow a similar strategy to the successful 2015 launch of Davanti in various markets around the world, and will start to seek key national distribution partners at Europe’s premier tyre expo next week.
How much might Sumitomo Rubber Industries pay for Dunlop?
During an earnings call with investors in mid-February, Sumitomo Rubber Industries (SRI) did the closest thing possible to throwing its hat into the ring when it comes to buying Dunlop tyre brand rights when SRI executives acknowledged their interest in buying Dunlop in Europe and North America. Those rights currently belong to The Goodyear Tire & Rubber Company, which recently announced its intention to position Dunlop as a “strategic player within the high-end value segment of the market” to prevent direct competition against its main Goodyear brand within the premium segment.
Goodyear sells Cooper Avon assets to Nova, leases Avon motorsport tyre brand
Nova MotorsportGoodyear executives have confirmed that Turbalvoroco Unipessoal LDA, trading as Nova Motorsport (Nova), will buy “certain assets used in the manufacturing and sale of” Avon-branded motorsport tyres. Nova has also acquired “the brand license, traditionally used in the manufacturing and sale of certain motorsport tyres under the names ‘Avon Motorsport’ and ‘Avon Racing’”. Tyres & Accessories understands that Nova plans to continue the production of some of the Avon Motorsport product range independently from Goodyear.
Bond International launches Admiral tyre brand
Fast-growing wholesaler, Bond International has launched the Admiral tyre brand. The trademark for Admiral was gained back in 1996 by the late Reg Bond and has since been registered in countries around the world.
Michelin most prominent and best sentiment tyre brand in 2024
In 2005, Tyres & Accessories published the first in what would become a 12-year series of online brand prominence and sentiment analyses relating to the best-known tyre brands. That research was conducted in association with Envisional and latterly NetNames. Now, one of the brains behind the original data has developed “a new and improved methodology for quantifying brand prominence and sentiment”. Here, David Barnet, now brand protection strategist at intangible asset management specialists, Stobbs, presents the results of a new study looking at the online prominence and sentiment of tyre brands.
Goodyear: Dunlop investment continues, Fulda brand to remain in post-factory scenario
Goodyear may have announced plans to close its Fulda and Fürstenwalde car tyre factories in Germany, but the tyre maker has confirmed that the Fulda brand will continue. Similarly, just a day after Goodyear announced that it is “pursuing strategic options” in relation to the sale of the Dunlop tyre brand as well as the company’s OTR tyres and Chemical businesses, Goodyear EMEA executives have reaffirmed their support for the Dunlop brand.
Lotus opens European brand centre in London
LotusOn 1 August, Lotus opened the doors to its first flagship European global brand centre in Mayfair, London. Lotus London can be found at 73 Piccadilly, at the heart of luxury, art and culture in the capital city. It brings together Lotus’ long-standing commitment to technology, performance and heritage by providing customers with an exclusive and immersive entry into the Lotus brand.
Prinx car tyre brand makes European debut in Milan
Andrew Bogie/Tyres & AccessoriesPrinx Chengshan’s flagship tyre brand has entered the European market in style at a lavish event in Milan, Italy. Hosting tyre distributors and dealers from all around Europe the brand chose the European fashion capital as its launchpad to signify its bullish expectations for the new range, which arrives offering fitments for a comprehensive range of applications, premiumised technologies, and a European marketing strategy openly setting mid-range-plus targets from the off. During a day of driving workshops at Alfa Romeo’s historic La Pista circuit, Tyres & Accessories was able to trial two Prinx tyres fitted to Tesla Models 3 and Y, and Mercedes AMG A Class hatchback and SUV models: the Xnex Sport EV UHP tyre designed for electric vehicle compatibility, and the Quattura 4S all-season tyre. T&A also spoke to several representatives from the brand’s European team about its new products and aspiration to make its mark on the European tyre segment. Look out for full coverage from the event on Tyrepress and in Tyres & Accessories magazine.
Brand Finance: Giti honoured by double Top 10 rankings
Commenting on the “excellent news” that it has retained tenth place amongst the world’s tyre makers on the Brand Finance Automotive Industry 2023 ranking of most valuable brands, Giti states it is “very honoured” to have received this accolade. The tyre maker also notes that Brand Finance listed Giti among the top ten tyre brands in its Sustainability Perceptions Value ranking.
Dunlop’s brand value shrank three-times faster than Sailun Tire’s grew
While Michelin was found to the be most valuable tyre brand, as we previewed a month ago, the 2023 Brand Finance data also shows Michelin is the strongest brand with a Brand Strength Index score of 88.1 out of 100 and a corresponding AAA rating. However, there were also significant shifts between 10th and 15th place in the ranking of the world’s leading tyre brands. Specifically, Sailun leapfrogged Linglong into 11th place in the “most valuable” category. And MRF rose two places from 15th to 13th this year. Meanwhile, Dunlop’s brand value shrank three-times faster than Sailun Tire’s grew.
2022 Asian Tyre Brand rankings revealed
Kumho TireThe World Brand Lab has released the list of Asia’s 500 most influential brands in 2022. Tyrepress analysis shows seven brands related to tyres among those ranked, namely: Bridgestone, Hankook, Kumho, Doublestar Linglong, Sailun, and Sumitomo. The Sumitomo brand involves diversified industries, but its subsidiary Sumitomo Rubber is a world-renowned tyre manufacturer.
NGK Spark Plugs changes company name to ‘Niterra’
Following the 122nd Ordinary General Meeting of the Shareholders on 24 June 2022, NGK Spark Plug announced its decision to change its English language company name to ‘Niterra’. World-renowned as an ignition, sensor and technical ceramics specialist, the Group rebrand reflects the journey which the company is currently on and will come into effect at the beginning of the company’s next fiscal year on 1 April 2023.
Giti amongst fastest risers in 2022 Brand Finance tyre ranking
GitiNot only did Giti break into the top 10 of Brand Finance’s annual tyre brand ranking, but it is also amongst the fastest risers. According to the company, this result “underscores the efficiency of the strategies adopted in the last two years to overcome the problems resulting from the Covid19 pandemic”.
