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Pirelli Selected for Ford’s 2003 SUV and Pickups

Ford’s Excursion 4×2 and Super Duty F-250 and F-350 Models will run on Pirelli Scorpion STRs as OE fit in 2003. Powertrains are at the heart of doing what SUVs and trucks are designed to do. A wide range of engines give these vehicles incredible power and torque, including the all new 6.0-litre, turbocharged, Power Stroke V8 diesel. Pirelli’s Scorpion STR is designed to cope with the torque and towing potential. The LT265/75 R 16 radials will be available with either black sidewalls or raised outline white letters.The Pirelli Scorpion STRs destined for 2003 Ford Excursions and Super Duty pickups will be manufactured in Pirelli’s factory in Brazil. The technical specification of the STR includes the combination of steel belts and nylon wrap for which Pirelli is famous, being the core technology behind Pirelli’s high-speed performance tyres. Tyres will be shipped to Ford assembly plants in Louisville, Kentucky and Cuautitlan, Mexico and vehicles produced will be distributed in the U.S., Canada and Mexico.

10th January 2003/by Tyrepress Editors

U.K. Record Sales of New Cars in 2002

New cars sales on the U.K. reached a record last year after breaking through the 2.5 million barrier, reported the Society of Motor Manufacturers and Traders. Sales increased 4.3 percent over the year to 2,563.631, worth an estimated 33.3 billion GBP. The Ford Focus was Britain’s top selling new car for the fourth year in a row.

9th January 2003/by Tyrepress Editors

Western European Car Sales Fall In November

Ahead of the official figures, analysts are predicting a fall of 6 per cent in November for sales of cars in Western Europe. All of the five major markets showed a drop in sales. France was down 10 per cent, the UK down 6.8 per cent, German sales fell 6 per cent, Spain was down 8.7 per cent and Italy showed a small fall of 1.3 per cent. Among the car manufacturers, the only positive growth (+10 per cent) was for the Japanese companies, notably Mazda, Mitsubishi and Subaru. Ford was next best, showing a decline in sales of only 1.9 per cent. The worst performers were Fiat and BMW (both down around 20 per cent).

11th December 2002/by Tyrepress Editors

Analysts Cautious Over US Car Sales

Car industry analysts have reacted cautiously to news that November sales in the USA were ahead of predictions. Continuing high incentives to buy is helping sales volumes, but keeping profits down, leading to a situation dubbed “profitless prosperity” by one analyst. Even more ironic is the fact that it is the Big 3 of Ford, GM and Chrysler that are offering the greatest incentives, yet all three experienced double-digit sales falls last month and their market share is down 3 per cent to 61 per cent, with shares of imported vehicles rising. Analysts predict more of the same for early 2003, with prices falling because of over-supply of vehicles and the main question being “how much longer can the situation continue?”

3rd December 2002/by Tyrepress Editors

Successful Year For Pirelli Rallying

It has been a good year for Pirelli-shod cars involved in rallying. In the recent Rally Great Britain, Petter Solberg notched up his first World Rally Championship win, with Pirelli taking the first six places. Solberg claimed 2nd place in the 2002 Driver’s Championship, ahead of Ford/Pirelli drivers Carlos Sainz and Colin McRae. In the USA, Pirelli-sponsored drivers scored a 1-2-3 in the SCCA ProRally series driver’s championship and a 1-2 in Group N. Success too in the Pirelli British Rally Championship, with a Pirelli 1-2 in Group N and first and third in the overall driver’s championship. Other successes: 2-3 in the Super Driver’s Championship and first places in the Toshiba Irish Tarmac Championship and the New Pig Scottish Championship. In Australia, Pirelli-shod cars were 1-2 in the Kumho ANCRO (Asia-Pacific) Championship.

28th November 2002/by Tyrepress Editors

Ford And Firestone To Co-Sponsor Race Series

Following the rift between Ford and Firestone, caused by the tyre recall, the two companies are to co-sponsor the CART racing series. Banners at the event will read “Bridgestone presents the Champ Car World Series powered by Ford”. This move, which is still in the early stages, has created speculation that it could be the first step in a rapprochement between the two companies.

23rd November 2002/by Tyrepress Editors

Jacques Nasser Back In Business

Jacques Nasser (54), ex-Ford CEO, has been appointed a Senior Partner at One Equity Partners LLC, where his task will be to identify, evaluate and implement direct equity investments in various industries world-wide. Nasser will also become the Non-Executive Chairman of Polaroid Corporation, the company acquired by an affiliate of One Equity in July this year.

13th November 2002/by Tyrepress Editors

Superior Industries See Expansion in OE – End of Aftermarket

At Superior Industries 3rd quarter conference call the company announced expected growth of 15 per cent every year for the next three years. This was based on the expected demand from the OE market where the company was seeing growth in supplying the key manufacturers. Shipments to DaimlerChrysler were up to 6 per cent, whilst there was a 15 per cent growth in supplies to non-Ford/GM companies. Market share at Ford/GM continued to increase. However, the aftermarket revenue for the third quarter stood at 903,000 Dollars. Superior accepted that this was an indication that this sector of the market was nearing an end for the company.Current US capacity is around 14.5 million units, plus potentially 2 million from Hungary. In order to meet new demand the company was expanding production capacity at Rogers, Arkansas and at two other plants. Plus there was the possibility of another new plant being developed in the next two years, possibly in China producing wheels exclusively for the export market.

18th October 2002/by Tyrepress Editors

Ford To Cut Supply Budget

Ford has announced that it plans to cut $2 billion from its European supply budget. Chairman of Ford of Europe, David Thursfield, said that the cost reductions would be achieved through design improvements, rather than forcing suppliers to cut prices.

30th September 2002/by Tyrepress Editors

LitWatch Spreads Cover On Tyre cases

LitWatch, the litigation news service, is expanding coverage of lawsuits filed in state and federal courts against tyre producers and auto manufacturers. This expanded coverage has been triggered by the demise of the multi-district federal class action, now on appeal to the US Supreme Court. Individual SUV rollover and tire failure cases are now proceeding simultaneously in many separate state and federal courts.”The federal courts have declined to handle this as one organized case, which means that it’s every plaintiff’s lawyer for himself. This will be the Oklahoma land rush of this decade, with hundreds of cases, seeking billions of dollars in damages, filed throughout the United States,” said John W. Toothman, Editor-in-Chief of LitWatch. Toothman notes that “Something unique about these cases is the conflict between the automotive and tire industries, which makes every case a potential land mine for both.”An example of this expanded coverage is the trial transcript from the recently-settled Hernandez case from LA County Superior Court, in California, the first case against both Firestone and Ford to go to trial against both. That case settled in the middle of trial for an undisclosed amount after key testimony was admitted from Jacques Nasser, former Ford CEO, and from another Ford official.This key information includes admissions that Ford was aware that 6.5 million Firestone tyres were defective and that using a replacement would have cost just 10 cents more per tire.

30th September 2002/by Tyrepress Editors

Analysts Downgrade Ford

UBS Warburg has downgraded Ford stocks from a “Hold” rating to “Reduce”, citing cash outflows “for years to come” due to a mixture of “non-competitive operations and weakness in the pension fund”. The analysts estimate that Ford will contribute $5-7 billion to the pension fund up to 2007, although they stress that, with cash reserves of 23 billion, there is no question of insolvency. The downgrading is in response to the belief that Ford requires a more stringent restructuring plan if it is to prosper, and the chances of such a plan being implemented are very small.

4th September 2002/by Tyrepress Editors

Canadian Police Contract For Goodyear

Goodyear’s Canadian operation has won a three-year contract to supply tyres to all police pursuit vehicles in the province of Quebec. The contract, the value of which was not revealed, means that these vehicles will be fitted with Goodyear’s RSA Plus tyres; a product designed specifically for police use and which is fitted as OE on Chevrolet Impala, Ford Crown Victoria and Chrysler Intrepid police pursuit vehicles.

27th August 2002/by Tyrepress Editors

Voluntary Recalls At Continental Tire North America

Continental Tire North America today announced a voluntary safety recall of 595,000 of its Continental P275/60R17 ContiTrac AW and General Grabber AW P275/60R17 tyres. Consumers will receive free replacements. The tyres involved have DOT codes from 109 to 4400 and were produced between March 1999 and October 2000 and fitted as original equipment on 106,701 2000-model year and certain 2001-model year two-wheel-drive Ford Expedition and two-wheel-drive Lincoln Navigator sport utility vehicles. Approximately 60,000 of the tires are in the replacement market.”The voluntary recall we are announcing today shows how Ford and Continental early warning/quality systems work together and why we are at the forefront of testing, data analysis and responsiveness,” said Mark Sowka, vice-president Original Equipment, Continental Tire North America.

20th August 2002/by Tyrepress Editors

Another Knight For Kwik-Fit

Reaction continues to the sale of Kwik-Fit to CVC, who have announced that chairman of the new company will be Sir Trevor Chinn, the outgoing chairman and former chief executive of Lex Service. Analysts are still debating the deal, with the consensus being that Ford overpaid when buying the company in 1999. Ford denies that the accounting irregularities at Kwik-Fit, where liabilities were understated by 3.4 million Pounds (5.3 m Euros), depressed the selling price. Ford says that the low valuation represents present market value, but many think that, by paying 330 million Pounds for 81 per cent of a business which turned over more than twice that last year (2001 turnover was 762 million Pounds), CVC has got a good deal.

14th August 2002/by Tyrepress Editors

CVC Capital and Ford Shake Hands On Kwik-Fit

Ford has announced its intent to sell Kwik-Fit to CVC Capital Partners, a leading European Equity group. The price being paid is 330 million pounds in cash and a note that will be paid as CVC obtains outside financing. The proposed transaction will be completed using a new company formed for the purpose, and financed by funds under the management of CVC. Ford will retain a 19 percent equity interest in the new company in order to benefit from the business’s future growth. The sale is expected to be completed in the fourth quarter of 2002 and is subject to regulatory approvals. Ford will record a one-time, after-tax charge of approximately $500 million in the third quarter of 2002 related to the sale of Kwik-Fit. Collision Team America has also been sold, though Ford has withdrawn from the sale of Hertz Equipment Rental Corporation.”We are pleased to have found such suitable owners for both Kwik-Fit and Collision Team of America,” said Martin Inglis, Ford group vice president, business strategy. “Although these are good businesses, they don’t align with our back-to-basics strategy. These sales further signal the progress that Ford is making on key parts of our Revitalization Plan.”

12th August 2002/by Tyrepress Editors