China Archives - Page 143 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.

Posts

Stapletons ‘Continues to Flourish’

Stapleton’s Tyre Services reports that over the past 12 months the company has “continued to flourish.” The wholesaler, which occupies a leading position in the UK market, has more than 70 years experience in passenger car tyre distribution. It distributes to both the specialist tyre retail trade and the car dealership sector. Stocking tyres from all major manufacturers, including Bridgestone, Continental, Dunlop, Goodyear, Michelin and Pirelli, Stapletons offer a full range of tyres from budget to premium, including exclusive and private brands: Nexen, Primewell, Capitol, Prestivo and Matador. Primewell, produced by Giti -the largest tyremaker in China, is the latest addition to the company’s range.

10th May 2010/by Tyrepress Editors

Continental Eyes India and Russia

International News

A report on the Bloomberg Business Week website suggests that Continental AG will decide this year on building car-tyre plants in India and Russia to tap those countries' growth while avoiding import restrictions. In an interview, Nikolai Setzer, head of Continental's car-tyre unit, said: "It's obvious that we need to have local production in India and Russia if we want to be a strong player there. We are still evaluating different concepts and ideas, but we do want to have a decision this year."

10th May 2010/by Tyrepress Editors

Chinese Tyre Production Up 35 Per Cent in Q1

Figures released by China's Ministry of Industry and Information Technology reveal that Chinese tyre manufacturers produced 167.44 million units in the first quarter of this year; a rise of 35 per cent over Q1 2009. The increase was largely fuelled was by rises in Chinese auto production and sales volume, which reached 4.55 million and 4.61 million, growing by 77 per cent and 72 per cent year-over-year, respectively. Auto production and sales volume in both March and Q1 2010 hit a record high.

10th May 2010/by Tyrepress Editors

Greek Crisis Market Jitters Led to Giti IPO Postponement

Giti Tire’s decision to postpone its Hong Kong initial public offering, was prompted by market jitters following on from the Greek debt crisis, news agency AFP has reported. Giti, the largest tyre manufacturer in China, decided to hold-off on its $500-million dollar offering on 4 May in what was its second attempt to get such an IPO off the ground.

In addition to the macro-economic concerns that the Greek crisis is symptomatic of, in Hong Kong and China concerns also stem form Beijing’s perceived “appetite for bubble-bursting.”

10th May 2010/by Tyrepress Editors

Fast Vehicle Sales Growth Fuels China Tyre Build

China’s Ministry of Industry and Information Technology reports that first quarter auto sales reached 4.61 million vehicles, a 72 per cent year-over-year increase, states Tire Review. Vehicle sales growth rates in China are expected to remain around 15 per cent annually over the next three to five years, the Ministry claimed.

7th May 2010/by Tyrepress Editors

Toyo Gets Chinese Tyre Manufacturing Authorization

Toyo Tire & Rubber Co., Ltd. has obtained local government authorization for its wholly-owned subsidiary in Zhangjiagang City, Jiangsu Province, China to proceed with manufacturing passenger and light truck tyres. The company announced its decision to establish Toyo Tires Zhangjiagang Co., Ltd., on 28 January 2010. Operations are expected to commence by the end of 2011. Initial production capacity during the first phase will be 2 million passenger car/light truck tyres a year.

7th May 2010/by Tyrepress Editors

How Far Will Tyre Companies Increase Prices in 2010?

There are price increases and there are price increases. Anyone who has observed the tyre market for long enough will be aware that what it says in the book and what customers pay are often two different things. Firstly when someone like a bank says “price increases” they are referring to the proportion the price the vendor receives for their tyres increases relative to its prior level. And secondly due to the volatility of raw material commodity markets and other associated input costs any predictions are libel to change and even cancel each other out. Sound like teaching grandma to suck eggs? Perhaps, but the latest round of price increases issued by swathes of tyre producers highlight these principles in spades. Higher prices do not necessarily mean higher costs to buyers on the one hand and, if they do, this does not automatically mean more profitability for those issuing the prices increases.

5th May 2010/by Tyrepress Editors

BKT Appoints Kirkby Tyres as Official Distributor

After many years of association with the Alliance and Double Coin brands, Kirkby Tyres reports that the company is “delighted to welcome BKT into the family for OE and aftermarket replacement.” With the head office on a five acre site next to John Lennon airport in Liverpool, offices in Scotland, Ireland and China, the 62 year old Kirkby Tyres recently embarked on an expansion programme. As a result the company has undergone recruitment and organisational changes in several all areas, from marketing to technical support.

One such appointment is that of Ilan Goldstone who has taken on the role of Alliance and Double Coin brand manager. A BSc Hons management graduate, he reportedly has extensive experience in the automotive industry. “As a company I believe we are in one of the best positions in the market. With Alliance gradually moving production to India it’s exciting times, the range will be bigger and better and of course, even more competitive.”

4th May 2010/by Tyrepress Editors

NDI to Launch New Nordexx Private Brand

Leading Danish tyre wholesale operation, Nordisk Daek Import A-S (NDI), has announced plans to launch a new private brand called Nordexx at the Reifen 2010 exhibition. Talking to Tyres & Accessories, NDI export manager Carsten Andersen explained that the new product range, which is aimed at the passenger car and van markets, will initially be available in 40 popular 13 to 18-inch summer sizes and 20 more aimed at the winter tyre market.

4th May 2010/by Tyrepress Editors

TGI to Promote New Cosmo TBR Range

After a challenging 2009, as it was for most all of the industry, this year US-based wholesale tyre distribution operation, Tire Group International, Inc (TGI) is reportedly increased year-on-year sales and plans to market its new Cosmo brand truck and bus radial range at the Reifen show.

“2009 was a tough year in the industry. We faced many challenges, from the global shortage of supply, financial crisis, and new duties on Chinese imports to the US. At TGI we are proud to say that through this maelstrom, we continued to grow stronger. The company grew 6.5 per cent from 2008 to 2009, which is quite an accomplishment with the aforementioned challenges,” chief operating officer Joaquin Gonzalez Jr. told Tyres & Accessories.

30th April 2010/by Tyrepress Editors

Michelin Looks to Increasing Sales, Expects Demand Increase

Michelin has released its first quarter financial report with the figure of 3.9 billion euros in net sales (representing an increase of 12.2 per cent) riding high on its statement. The manufacturer has seen a decent return to favourable comparatives a year after the depth of the financial crisis dominated most balance sheets, though European original equipment truck sales were a notable exception, down 1.2 per cent (including figures for Russia and Turkey. In comparison, year-on-year change in the segment in all other regions was up, most spectacularly in South America (up 56.9 per cent) and Asia (up 24.2 per cent). The European passenger car and light truck OE segment was much stronger, with 30.2 per cent rises in net sales.

30th April 2010/by Tyrepress Editors

Techking Donates to Yushu Earthquake Relief

Techking has pledged to donate US$1.00 from the sale of each OTR tyre sold during the next three months to help those affected by the Yushu earthquake on April 14. The 7.1 magnitude quake in southern China shook towns in the sparsely populated Tibetan Plateau, killing 2,220 and injuring more than 12,000 people.

28th April 2010/by Tyrepress Editors

Bridgestone Holds G-MEC Opening Ceremony

On April 28 Bridgestone held an opening ceremony for its Global Manufacturing Education Center (G-MEC) in the Bridgestone G-MEC Building, a training building established in Kodaira City, Tokyo. The ceremony, held at the newly opened G-MEC Building, marked the official launch of the new G-MEC training and education programme.

28th April 2010/by Tyrepress Editors

Omni United Has European Markets on its Radar

Omni United, one of Singapore’s fastest growing tyre companies is aiming to use its presence at Reifen 2010 (Hall 2-06) to extend the reach of its Radar brand into Europe. Omni reports that it will be seeking new customers and will also be launching its new passenger, light truck, SUV and the UHP lines into the European market at the show. The company manufactures the Radar brand in Indonesia, India and China. Omni says it aims to ensure products reach their destinations on time, every-time with advanced supply chain management systems.

27th April 2010/by Tyrepress Editors

Bridgestone Sees Hot China Growth, Increasing Production

Bridgestone Corporation expects aggressive growth in China this year, regardless of how the country’s currency sits against the US dollar. Sales of cars, SUVs, buses and commercial trucks in China are expected to exceed 2008 levels by more than 10 per cent, according to Bridgestone China managing director Yujiro Kanahara.

27th April 2010/by Tyrepress Editors