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Continental revises 2022 outlook, publishes preliminary Q1 results

Due to several factors, Continental is adjusting its outlook for fiscal 2022. The company expects global production of passenger cars and light commercial vehicles to increase by between four and six per cent year-on-year in 2022, a lower rate than the six to nine per cent growth that the prior outlook (published 9 March 2022) was based on. Negative effects from cost inflation for key inputs, especially for oil-based raw materials as well as for energy and logistics for the Tires and ContiTech businesses, are also becoming significantly more material.

22nd April 2022/by Stephen

New car registrations hit 24-year low in March

UK new car registrations fell by 14.3 per cent to 243,479 units in March. Despite manufacturers reporting robust order books during the first quarter, the Society of Motor Manufacturers and Traders (SMMT) shares that ongoing supply chain shortages – especially of semiconductors – continued to squeeze supply during what is normally a busy ‘new plate’ month.

6th April 2022/by Stephen

A “good result” – Continental returns to the black in 2021

Although chief executive officer Nikolai Setzer believes the past financial year was “a very trying one” for Continental and a period presenting “many challenges,” the tyre maker and automotive solutions company nonetheless managed to achieve a positive net income in 2021 after two consecutive years of losses.

9th March 2022/by Stephen

January car production hits 13-year low

UK car production fell 20.1 per cent in January, to 68,790 units. The Society of Motor Manufacturers and Traders (SMMT) says this is the weakest January total since 2009. Output was down 17,262 units against the same month last year, which itself was one of the worst Januarys on record when volumes were impacted by friction in the new post-Brexit trading arrangements, extended shutdowns and the pandemic.

1st March 2022/by Stephen

Tyre shortage slowing North Korea down

International News

According to US government-funded news service Radio Free Asia (RFA), North Korea is facing a shortage of tyres that is forcing many vehicles off the road. RFA explains that the tyre shortage results from the two-year-long border closure and trade ban with China imposed to stop the spread of COVID-19. It adds comments from sources who say domestic tyre production is “negligible” and importing these products has been “almost impossible.”

14th January 2022/by Stephen

EVs a strongpoint in Covid-stalled UK car market

Last year, new car registrations grew by a marginal 1.0 per cent on a pandemic-ravaged 2020, as 1.65 million new cars entered the UK market. Figures released by the Society of Motor Manufacturers and Traders (SMMT) underline the ongoing impact of Covid and the semiconductor shortage on the industry, with the market down 28.7 per cent on pre-pandemic 2019, representing the second worst year since 1992.

10th January 2022/by Stephen

LAMMA postponed until May

COVID-19 is limbering up to cast its shadow over us for a third year, and exhibition organisers are cancelling or postponing shows scheduled for the early months of 2022. Agricultural sector fair the LAMMA Show is the latest to announce that it won’t take place on the previously announced dates.

21st December 2021/by Stephen

Deldo introducing new lines & sizes despite volume cuts

Company News, International News

Hindsight is said to be 20/20, yet this isn’t a faculty that helped the tyre industry this year. Early optimism driven by vaccine rollouts quickly turned to despair as sideways-parked container ships, skyrocketing sea freight prices, rising material costs and supply shortages delivered blow after blow. As we enter the final quarter of the year we have a much clearer view of what’s going on, and what we see is that tyres will be pricier in the coming months – assuming we can get our hands on them.

9th November 2021/by Stephen

UK September car production hits four-decade low

UK car production fell 41.5 per cent in September, the third consecutive month of decline, with 67,169 cars manufactured – the worst performing September since 1982 – according to the latest figures released this week by the Society of Motor Manufacturers and Traders (SMMT).

29th October 2021/by Stephen

Michelin: YTD sales up 15.6% to €17.2 billion

Year-on-year comparisons of financial performance tell us arguably more about global events than an individual company’s economic trajectory at the moment. Thus, it came as no surprise a few months back when Michelin reported much healthier first-half results compared with pandemic-riddled 2020. Similarly, eyebrows aren’t raised now when the company notes the impact of rising materials, shipping and energy costs as well as a shortage of semiconductors and labour shortages upon its performance in Q3 2021.

26th October 2021/by Stephen

Geneva International Motor Show postponed to 2023

International News

The organiser of the Geneva International Motor Show (GIMS) has announced the event’s cancellation for a second year. Comité permanent du Salon international de l’automobile states that it was “forced to postpone the event to 2023” due to “industry-wide issues relating to the COVID-19 pandemic.”

8th October 2021/by Stephen

Halved in 5 years: Q2 bus & coach registrations

The UK new bus and coach market grew by 231.1 per cent in the second quarter after a near standstill in 2020, reports the Society of Motor Manufacturers and Traders (SMMT). But although all vehicle types saw double- and even triple-digit increases on 2020, the market remains subdued.

17th August 2021/by Stephen

Back in 2021: Firestone sponsoring All Points East

Company News, UK News

Firestone returns to the All Points East festival as sponsor for a third time over the August Bank Holiday weekend. The event returns to London’s Victoria Park after a year’s absence, and the Firestone Stage will be ready to entertain.

28th July 2021/by Stephen

Covid-19: Hankook pauses plant production

International News

Within the next few hours, production will recommence at Hankook Tire & Technology’s Geumsan plant in South Korea following a 48-hour pause that began on 24 July after a number of workers tested positive for Covid-19. Health authorities have set up a test centre at the plant and intend to test around 3,000 employees early this week.

26th July 2021/by Stephen

ETRMA: All-season the big winner as tyre sales return to 2019 levels

While sales of consumer replacement tyres in Europe are once again approaching 2019 levels, the all-season tyre segment has grown significantly – primarily at the expense of winter tyre sales.

15th July 2021/by Stephen