China Archives - Page 142 of 240 - Tyrepress

Now one of the largest tyre-producing countries in the world, China has an indisputable influence on the direction of global tyre trade. The home of both fast-growing up-and-coming brands as well as a burgeoning domestic market, this tag chronicles China’s involvement with the tyre business.

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European Commission Imposes 20.6% Duty on Chinese Alloy Wheel Imports

International News, News

On 12 May the European Commission (EC) imposed a 20.6 per cent duty on aluminium road wheels imported from China. The ruling, which is lower than the 30 per cent some sources predicted, is designed to put the brakes on the decline in European produced aluminium wheel sales. It comes in the form of a “preliminary measure” just over half way through the anti-dumping investigation that began at the behest of EUWA (European Wheel Manufacturers Association) in May 2009. The preliminary measure lasts for the six months necessary for the commission to make its final ruling in November at which point the 12 May ruling leaves the option open for commission to the 20.6 per cent import duty for an extra five years.

26th May 2010/by Tyrepress Editors

Brazil to Overtake Germany Vehicle Sales: Financial Times Report

A Financial Times report published today suggests that Brazil could overtake Germany in terms of vehicle sales as early as this year, depending on a predicted 20 per cent decline in Europe’s leading market. Last year, Brazil was the fifth largest market for new vehicles, buoyed by its increasing wealth based on resources, the newspaper says. Quoting senior analyst at PwC Michael Gartside, John Reed writes that the light commercial vehicle market is crucial to this prediction, with Germany still larger in terms of passenger car sales.

25th May 2010/by Tyrepress Editors

Aufine Warns of Ocean Freight Price Increase

Chinese tyre company, Aufine Group Co., Ltd., has warned customers of the increasing cost of Ocean freight. “From March until now, the ocean freight from all China’s fundamental ports keeps rising. Especially from 15 May the freight starts increase sharply,” the company wrote in its latest email newsletter.

25th May 2010/by Tyrepress Editors

Cheng Shin/Maxxis Invests in Private Proving Ground

The news that Cheng Shin recently broke into Tyres & Accessories top 10 leading tyre manufacturers has drawn a response from Maxxis International representatives in the UK. According to the Maxxis statement, the company is continually looking to improve tyre performance and has now invested in a new, state-of-the-art private proving ground in China in order to allow it to “expand its already strong research and development capability.”

24th May 2010/by Tyrepress Editors

Michelin Data Confirms Market Uptick

Information released by Michelin on July 19 paints a very similar picture of the current global tyre market as the Pirelli information published two days earlier. The French manufacturer reports a 13.4 per cent year-on-year growth in the European (including Turkey, excluding Russia) passenger car and light commercial vehicle tyre replacement market during April 2010, and a 21.2 per cent growth in the original equipment sector. This represents a year-to-date growth of 10.4 per cent for the replacement market and 33.6 per cent for original equipment. The replacement truck tyre market is reported to have grown 22.7 per cent, while the original equipment sector showed a year-on-year growth of 58.8 per cent during the month. Year-to-date, Michelin’s figures show the replacement truck tyre market to have grown 34.7 per cent, while growth in the original equipment sector is reported to be 10.7 per cent.

21st May 2010/by Tyrepress Editors

Philippines Joins ANRPC Rubber Producers’ Organisation

For the past forty years the Association of Natural Rubber Producing Countries (ANRPC) has served as an organisation acting in the interests of governments of natural rubber producing nations. As of 30 November 2009 the organisation contained ten members – the governments of Cambodia, China, India, Indonesia, Malaysia, Papua New Guinea, Singapore, Sri Lanka, Thailand and Vietnam – and (according to 2008 figures) represented the producers of 94 per cent of global natural rubber production. The organisation has now grown to include the Republic of the Philippines.

20th May 2010/by Tyrepress Editors

Cooper China Picks Up Three Chinese Awards

In China, Cooper Tire recently won three awards for its products and marketing campaigns. China's Auto Business Review magazine named Cooper Tire winner of the Creative Marketing Corporate Award for the 2009-2010 China Auto Blue Book, while Auto magazine conferred a 2010 Auto Ads Award upon Cooper Tire for its Cooper Knight campaign. Finally, China Motor Trend magazine named Cooper tyres as the editor's choice in tyre brands.

19th May 2010/by Tyrepress Editors

Tyre Market Data Shows Growth in All Regions

According to data released by Pirelli & C. SpA, Europe’s passenger car and light commercial vehicle replacement tyre market grew 14 per cent year-on-year during April 2010, below the 20 per cent improvement observed in March yet a three point improvement on the market’s 10.5 per cent year-to-date improvement. Original equipment sales of all tyre brands in Europe improved one per cent year-on-year during April, considerably lower than the 19.25 per cent improvement seen in the year-to-date. Replacement market truck tyre sales showed a 20 per cent year-on-year improvement during the month, down on the year-to-date increase of 32.75 per cent. The original equipment truck tyre market in Europe shot up 60 per cent in April, by far the largest monthly year-to-date growth so far this year. Year-to-date, growth in this sector have improved by 16 per cent over last year.

19th May 2010/by Tyrepress Editors

Maxxis Producer Cheng Shin Enters Global Tyremaker Top 10

The world’s top 10 tyre makers now have a new addition in the form of Taiwanese manufacturer Cheng Shin Rubber. Now that almost all the major tyre manufacturers’ sales figures are in, the numbers show that Cheng Shin Rubber – producer of the Maxxis brand – leapfrogged Toyo and Giti Tire into 10th place in 2009. Last year the company ranked 12th on the Tyres & Accessories leaderboard.

17th May 2010/by Tyrepress Editors

2009 Was A “Banner Year” for Cheng Shin Rubber

Commenting on Cheng Shin’s recent rapid growth, Morgan Stanley’s Taiwan automotive industry analyst, Jeremy Chen, described the company’s 2009 financial results as “very strong.” In his words the results point to the booming Chinese tyre market and to the relative newcomer’s potential threat to existing tyre giants: “The strength and growth of local tyre makers actually are a growing threat to Michelin (for which Chinese sales are currently circa 5-10 per cent of overall sales). However, in reality there is probably room for everyone to grow in China at present…”

The company’s strong margins also garnered praise from the analysts: “We highlight that Cheng Shin's full year 2009 operating margin (20 per cent) remained well ahead of its peers' (12-15 per cent), providing more evidence of the company's strong competitiveness and execution capability. Although we expect margins and profits to fall this year, due to rising material costs, we retain an overweight rating on Cheng Shin, as we continue to see the stock as one of the best plays on China's booming auto market.”

17th May 2010/by Tyrepress Editors

Chinese UHP Tyre Sales Increasing at Twice the Overall Market Rate

Appetite in China for high performance tyres is growing. In mid-May, Michelin launched its Pilot Sport 3 into this market, making 18 sizes available for Chinese consumers. The Pilot Sport 3 complements the Primacy LC, introduced last year, in Michelin’s China market performance portfolio. "We are putting more attention on the high performance tyre market than before, a segment that is growing at a speed twice that of the overall tyre market in China last year," said Antoine Guerin, vice-president of marketing and sales with Michelin (China) Investment Co Ltd.

17th May 2010/by Tyrepress Editors

Dunlop Aircraft Tyres Gears Up for Centenary Celebrations

As part of its centenary celebrations, Dunlop Aircraft Tyres has commissioned the publication of a new book and commemorative film that tell the story of the company’s past and present and outline its future direction. Both will be launched at a gala event held to coincide with the opening of the Farnborough International Air Show on July 19. The evening event at the Wapping Project is anticipated to bring together many of the company’s customers, suppliers and senior figures from the aviation sector.

13th May 2010/by Tyrepress Editors

Toyo Reports Net Profit

Toyo Tire & Rubber has announced a return to the black with a net income of 2,957 million yen (₤21.5 million) for the 2009 fiscal year. The Japanese company, which made a 10,722 million yen loss during the 2008 financial year, earned a profit in the 12 months to March 31, 2010 despite a 12.4 per cent decline in net sales to 287,726 million yen (₤2.1 billion). Operating income during the recent financial year amounted to 8,664 million yen (₤62.9 million). The company’s tyre business unit posted net sales of 214,291 million yen (₤1.6 billion), accounting for 74.5 per cent of total net sales and a 11.5 per cent drop from 2008 sales. Ordinary income for the 2009 financial year was 6,933 million yen (₤50.3 million); a year earlier an ordinary loss of 1,395 million yen was recorded.

13th May 2010/by Tyrepress Editors

Michelin Will Take Role in Industry Consolidation

Michelin wants to play its part in the consolidation of the tyre industry, the company’s director of financial operations, Marc Henry told Germany's Boersen-Zeitung. According to these reports and others circulated by the Reuters news agency, Michelin will not simply remain an observer, “depending on the possibilities” of the market. Nevertheless this does not mean the company is likely to surrender its "societe en commandite par actions" status which protects it from takeover attempts as it concentrates power in the hands of the company's founding family.

12th May 2010/by Tyrepress Editors

Bridgestone Donates to China Earthquake Relief

Bridgestone Corporation subsidiary Bridgestone（China）Investment Co., Ltd., has announced its donation of RMB 500,000 (£49,000) to aid victims of the earthquake which devastated China’s Qinghai Province on April 14, 2010. The contribution has been made to the China Red Cross. In addition, other members of the Bridgestone Group in China will donate more than RMB 57,000 (₤5,600) to concerned parties.

11th May 2010/by Tyrepress Editors