Recent tax reassessments have given the Nokian Tyres Group a negative bottom line in the fourth quarter of 2013. The Finnish tyre maker’s pre-tax profit of €57.7 million (already down 44.6 per cent year-on-year) was dragged down to €-36.4 million by the additional €100.3 million in taxes and interest that Finland’s Tax Administration requires Nokian to pay for the 2007 to 2010 financial years.
Carving out winter tyre developments Continental launched its latest winter tyres in December at an event held at the winter proving ground at Arvidsjaur, Sweden. The manufacturer’s new WinterContact TS 850 P will come to the performance car and SUV market in the autumn of 2014, delivering improvements over its TS 830 P predecessor in […]
Apollo Vredestein UK managing director Stuart Jackson revealed several strategic details with which Apollo plans to grow its brand in the UK. Apollo is to introduce a truck and bus tyre range and expand its passenger car tyre lines into a fourth generation, with a sizeable investment in UK marketing “to support brand growth.” The tyre manufacturer will also develop its links with Manchester United, both as a partner in a sports facility initiative and as a significant branding opportunity, with video and print marketing materials featuring the purple of Apollo and the red of the Stretford team.
Contract tyre manufacturer Enjoy Tyre was formed a decade ago this year, and the company is viewing 2014 as an important milestone in developing its profile in the UK and Europe. Central to this is the Enjoy’s Rotalla passenger tyre brand, with a range of four summer and three winter tyres. Enjoy says it has […]
Aeolus has extended its exclusive UK distribution agreement with Kings Road Tyres (KRT) to include its passenger car tyre range. The fast growing tyre manufacturer, noted in European tyre markets mainly for its OTR and commercial vehicle products, has previously announced its intention to exhibit its PCR products on its stand at Reifen 2014, held at Messe Essen on 27-30 May. KRT previously announced its intention to give a then unnamed PCR range its UK market debut in Manchester at October’s Brityrex International exhibition.
Aeolus Co. Ltd. reports that it will be showcasing its entire range of passenger car tyres, bolstered by truck and EM product lines at the forthcoming Reifen show, which will run 27-30 May 2014.
The latest market figures from Michelin were released on 23 January, and these show across the board year-on-year growth taking place within the European tyre market in December 2013. These results for Europe include the Russian and Turkish markets. Original equipment passenger car and light truck tyre sales were eight per cent up on December 2012, while replacement market tyre sales expanded by one per cent. Michelin noted that growing markets experienced a slight decline in Western Europe due to winter tyre sales. Heavy truck tyre market growth was even more pronounced and experienced what Michelin called a ‘technical rebound’. In December, the original equipment market was 26 per cent above where it was a year earlier and the replacement tyre market was 12 per cent higher.
Micheldever and Falken Tyre Europe, have announced the result of their nationwide competition. Thomas Clarke from the Forest of Dean, Gloucestershire, won the Volkswagen up! after entering the competition when he bought some tyres from the Coleford Five Acres Garage in November. Clarke said: “I always like to support my local businesses, so when Fives […]
Carlisle-based tyre brand Dmack has secured an investment of £3.5m from private equity managers Maven. The injection of funds will help to fund the next stage of its growth, according to Dmack, boosting its production capacity and range of road-going and motorsport tyres.
In summer 2013, Yokohama Rubber began building a passenger car tyre factory in China’s Jiangsu Province, the company shared today. The new plant is being erected adjacent to a truck and bus tyre factory operated by Chinese subsidiary Suzhou Yokohama Tire Co., Ltd., and is expected to begin production in April 2014. Production capacity will grow incrementally until it reaches six million tyres per annum by the end of 2017. Total investment in the plant will amount to approximately ¥26.5 billion (£153.7 million).
Dunlop will supply its Sport Maxx RT tyre to Mercedes-AMG as original equipment on its new CLA 45 AMG model in size 235/35ZR19 91Y XL MO, which was specially designed for the sporty coupé. With a peak output of 265 kW (360 hp) and maximum torque of 450 Newton meters, its turbocharged engine is the […]
Bridgestone has revealed its plan to increase the prominence of its Firestone brand in the UK passenger car tyre market during summer 2014. The manufacturer says its marketing drive will link the Firestone badge explicitly to its lengthy history in motorsport, and Bridgestone is hoping that this renewed effort will put its mid-range brand in a position to offer a compelling proposition to motorists and dealers alongside Bridgestone’s premium offering. In addition, the company will launch the new Firestone Destination 4×4 tyre in June to coincide with the concerted effort to increase awareness and sales through a variety of campaigns.
Tyre wholesaler Kings Road Tyres (KRT), best known for its wholesale business in the truck and OTR tyre segments, has announced that it will launch an exclusive passenger car tyre range at October’s Brityrex International exhibition. Aside from distributing a wide range of Cooper 4×4 products, KRT currently services the segment with Michelin affiliated Serbian manufacturer Tigar’s range, making this a significant move in broadening its PCR business.
A controlling interest in Kings Road Tyres Group (KRT) has been acquired by a strategic investment group with members in China, Europe and North America. The UK management team, which bought out the company in the second half of 2011, will “continue to retain a significant equity position in the company and will maintain responsibility for day-to-day operation of Group businesses,” said a statement issued to Tyrepress by KRT today. The company said that the deal would “secure significant new equity investment” for KRT, which it said would help it develop its position as one of the leading players in the UK tyre industry.
Two days ago we reported the launch of Michelin’s Premier A/S at the NAIAS in Detroit; since then, US trade publication Tire Review shared with us a bold claim Michelin has made about its new all-season tyre – that it is better worn than competitors’ tyres are when new.
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