Pirelli has predicted fast, exciting racing and hot weather at Snetterton’s MCE British Superbike event this weekend. The new ‘300’ track layout was well received by riders and fans last in its first year in 2011. The Pirelli team returns from the North West 200 having secured four race wins, to focus on Snetterton BSB before the start of the Isle of Man TT practice week on Monday.
After the fast, abrasive Thruxton surface, the British Superbike series moves to Oulton Park where the more flowing nature of the circuit and make-up of the asphalt means softer Pirelli Diablo Superbike tyres may well be effective.
The first nine months of Japan’s 2011 financial year have been described by Toyo Tire & Rubber as being a “severe” business environment. During the nine month period between 1 April and 31 December 2011, the company experienced a 19.4 per cent year-on-year decrease in net income despite rising sales. Net sales increased 6.7 per cent during the timeframe in question, to 241.7 billion yen (£2.0 billion), while operating income and ordinary income rose 10.4 per cent and 11.9 per cent respectively, to 11.59 billion yen (£95.8 million) and 8.99 billion yen (£74.3 million). Despite stronger sales, net income sank by 985 million yen to 4.11 billion yen (£33.9 million) during the first three quarters.
Although Titan International intends to announce full details of its 2012 sales predictions in a conference call tomorrow, the company has already indicated its expects sales of up to US$1.9 billion next year – and the potential for even higher sales exists.
Casey Stoner finished the first day of practice for the French Grand Prix fastest overall, lapping under the existing lap record by nearly half a second. His fastest lap came on the harder option front and rear Bridgestone slicks, though he also lapped under the lap record and set provisional fastest using the new soft asymmetric rear tyre. Masao Azuma, chief field engineer at Bridgestone Motorsport: “I am pleased with the performance of both our slick tyre options today as we can see from the laptimes that both worked well.
MotoGP’s Czech Grand Prix weekend got underway with Free Practice today, and riders were keen to compare the balance of the slick compounds Bridgestone has provided (hard and extra-hard at the front, hard and medium at the rear. Fiat Yamaha’s Jorge Lorenzo continued his strong form during the first hour-long free practice session at Brno, setting the fastest time by more than half a second, his best coming on the harder variants.
Deutsche Bank upgraded Pirelli to buy in London today. According to The Wall Street Journal the broker said that the stock is likely to outperform estimates. While a capital increase at Pirelli Real Estate is partially to thank for the prediction, it is the improvement forecast in the company’s tyre division from the second quarter that explains the new categorisation. Deutsche also believes that steps will be taken to reduce the holding discount. Shares climbed 4.7 per cent in Milan.
Despite improving sales in recent months, the 2009 outlook for Lanxess in the Greater China region is said to remain “murky”. At the sidelines of a company event on June 11, Martin Kraemer, chief executive of the company’s Greater China operations told Reuters “we have seen a pick-up in demand and also in sales in China over the last couple of months…What we currently see is nice, but will that be sustainable till the end of the year? We don’t know.”
Toyo Tire & Rubber has made several revisions to its consolidated and non-consolidated performance forecasts for the fiscal year ending March 31, 2009. The company’s previous forecasts were announced on February 9, 2009. Consolidated forecast net sales for the year have dropped four billion yen to 328 billion (£2.3 billion), while operating income has been downwardly adjusted by a billion yen to minus three billion (-£21.2 million). Net income, now forecast to be minus 10.8 billion yen (-£76.4), is up from February’s estimate of minus 12.7 billion.
Battery and automotive components manufacturer Johnson Controls has posted its first quarterly loss since 1993. Details of the company’s negative performance was given on January 16 along with news that employee wages are to be frozen and bonuses cut. A second quarterly loss is also anticipated, the company disclosed.
A decrease in sales of almost 23 per cent led to the US$608 million first fiscal quarter loss, said Johnson controls. Excluding non-cash charges, the loss equates to $82 million, or 14 cents a share, compared with $235 million or 39 cents a share in profit during the same period of fiscal 2008.
Toyo Tire & Rubber has revised its consolidated and non-consolidated performance forecasts for the first half of the fiscal year ending March 31, 2008 (the period between April 1, 2008 to September 30, 2008). The revisions replace the forecasts originally released on August 12 and May 13 respectively.
Bridgestone has lifted its revenue and profit targets for 2012, stating simultaneously that it hopes to continue the upward trend the year after too. The Japanese giant revises its five-year plans at least once per annum. Last year it forecast 400 billion yen (2.3 billion pounds sterling) operating profits, alongside revenue of 4 trillion yen (23 billion pounds sterling), but now the stakes have been raised to 410 billion and 4.3 trillion yen (2.4 billion and 23.7 billion pounds sterling) respectively. (Assuming 1 pound sterling = 173 yen.)
Bridgestone’s new predictions came on the same day that the world’s largest tyre-maker’s stock made significant gains on the TSE. The company rose by up to 9.5 per cent (163 yen), closing on 20 October at 1,874 yen. According to Bloomberg, the three-year low of rubber on 17 October contributed to the rise, offsetting the potential fall due to auto sales difficulties. Yokohama and Sumitomo saw similar rises, while Toyo Tire and Rubber Co rose 12 per cent to 253 yen. Bridgestone completed its acquisition of an 8.72 per cent stake in Toyo on 16 October. More details are to follow through official channels on 27 October.
Europe’s heavy truck market is predicted to slow 20.7 per cent to 255,800 units in 2009 according to some forecasts. According to Automotive World’s research 2009 will prove to be “the worst for truck sales in recent history.” No return to the almost 350,000-unit market witnessed in 2007 is seen on the forecast horizon that extends to 2013. The report also warns that the positive impact on sales derived from a boom in Eastern Europe is now on the wane and that the 2004 EU accession countries “now appear to have entered a replacement rather than a growth cycle.”
The new vehicle market for classes 3-8 vehicles is expected to grow to 723,000 by 2012, according to a new report from R. L. Polk & Co. Polk’s new Forecast of Commercial Vehicle Activity for North America which provides insight into the class 3-8 commercial vehicle market through 2012. “Available to customers now, Polk’s unique offering provides an econometric-based model, allowing customers to maximize their sales opportunities by better understanding the North American market for commercial vehicles,” the company said.
“Polk’s new offering for the North American commercial vehicle market enables us to expand our capabilities and provide increased value and benefit to our customers,” said Gary Meteer, account director for Polk’s Commercial Vehicle Group. “We are confident this new data offering will provide significant insight for customers as they analyze business opportunities in North America’s commercial vehicle industry and plan for the future.” (Tire Review/Akron)
Bridgestone today announced their second Chinese price hike of the year, adding as much as 10 per cent to car, truck and bus tyres sold in the country at the beginning of August.
The Japanese manufacturer blamed the increases on even higher than forecast raw materials costs, and that its cost-cutting initiatives had failed to come off well enough to offset the differentials.
If you would like the latest news from the Chinese tyre industry in Chinese, visit our partner site TyrepressChina.com. Or click below to continue on Tyrepress.
