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Sumitomo Rubber Publishes Strong Q3 Results

Sumitomo Rubber Industries has published sales of 120 billion yen (£581 million, up 8 per cent year-on-year) and operating profit of 9.3 billion yen (£45 million up 18.6 per cent year-on-year). Analysts report that results were ahead of plan and tyre sales particularly “outperformed forecasts.” Exports are reported to have been particularly strong and high performance tyres are said to have sold well domestically.

As a result of the strong quarter Sumitomo has raised its full year forecast to sales of 500 billion yen (up 6.3 per cent) and operating profit of 46 billion yen (up 1 per cent). However, Deutsche Bank analysts said: “We feel that the company is somewhat conservative about our fourth quarter. Our current forecasts are sales of 496.0 billion yen [and] operating profit of 50.0 billion.”

15th November 2005/by Tyrepress Editors

Record Breaker Uses Conti Tyres

Mike Newman has broken his own Land Speed World Record on Continental tyres. Driving alone in a tailor made BMW M5 fitted with ContiSportContact 2 tyres the visually impaired record breaker clock up a top speed of almost 180 mph. On 11 October at Evington Aerodrome near York, Newman smashed his previous record of 144.7mph by averaging a speed of 167.32mph. His top speed was 178.5mph.

4th November 2005/by Tyrepress Editors

Pirelli Supports Ferrari Tour

Pirelli is to fit its UHP tyres to two Ferrari 612 Scaglietti’s which will tour China starting from Shanghai on 29 August.

The manufacturer has agreed to support Ferrari due to the ever-increasing importance of the Chinese market to the company. A joint venture agreement was recently signed for the production of tyres in the province of Shandong, one of the areas of the tour.

26th August 2005/by Tyrepress Editors

Toyo Drives Towards Growth with Engine

Toyo Tyre UK has appointed Engine, a cross-media design agency, to handle the first phase of its new UK marketing communications programme. This will involve the creation of brand new press advertising campaign with a total budget of £600,000.

29th April 2005/by Tyrepress Editors

High Performance Tyres

The growth of high performance tyres in the UK is outpacing the rest of Europe. V-Z rated tyres have grown 15-20 per cent in the last year. However the sector has, in the past, been largely led by OE fitment and reserved for the main players. How well are second line and budget brands competing in the aftermarket? Tyres & Accessories looks at how tyre manufacturers are extending the boundaries and what exactly is possible when it comes to upgrading tyres.

26th April 2005/by Tyrepress Editors

Wholesaling and Retailing In a Difficult Market

Magowan Tyres is a family-owned and run retail and wholesale tyre business, based in Belfast. The founder, Darryl Magowan, has been in the tyre industry for more than three decades and is still in charge of the overall direction of the company.
His son, also called Darryl, is managing director of the company and his speciality is purchasing. With the Northern Ireland market being, in his phrase, “exceptionally price conscious”, it is a distinct advantage if you can buy cleverly. Magowan is very active on the parallel market, importing around eight containers a month from Europe and the USA.

For almost 20 years, Magowan Tyres was purely a retail business, moving into wholesaling only three years ago. I put it to Darryl Magowan (Jr.) that this was an odd time to enter the wholesale sector, with rising transportation and associated costs. His response was that the company had examined the situation carefully and weighed up the pros and cons. The main reason was that there was a growing demand in the Irish market for ultra high performance tyres and a lack of wholesale supply.

The main market for Magowan Tyres is Northern Ireland, especially Belfast, where the company offers deliveries up to five or six times a day, if required. The service in the Irish Republic is less frequent, but a next-day delivery is standard. Because of the low density of population, which, apart from the major towns and cities, is very spread out, running a wholesale operation efficiently and profitably means keeping a close eye on day to day running.

5th January 2005/by Tyrepress Editors

Goodyear Top Autocar Tyre Tests

Autocar magazine has published its annual tyre tests this week, with Goodyear dominating the results. The independent tyre test compared five leading tyre brands in the UK, across two categories of car.

20th October 2004/by Tyrepress Editors

Stapletons Extends Jupiter/Nexen Distribution

Stapletons has announced that it will extend the distribution of Jupiter/Nexen tyres. The company exclusively distributes the South Korean ultra-high performance tyres, which are available in more than .”

6th October 2004/by Tyrepress Editors

Michelin Reassure Over US market

Michelin has held a meeting in New York where it announced that it is currently utilising its US truck capacity by 100 per cent. The market, which was up six per cent in H1, has dropped in the last two months, especially in the mass market when high performance tyres kept growing.

The company claimed that its price increases in the US are holding however, as they have already commented, they do not think that US customers can cope with a 3rd price increase this year. The company also claims that it doesn’t need another price increase to meet its 04E targets.

30th September 2004/by Tyrepress Editors

Yokohama’s Aggressive Advan Brand

Yokohama Rubber is to launch its new ADVAN brand at the Paris Motor Show 2004 (Mondial de l’automobile 2004), which commences on the 25 September.

The company describes the new product as its “symbolic” brand, representing its “global concept.” Yokohama plans to aggressively confront its new business strategy through the new brand, which includes developing flagship tyre products, participating further in motorsports, and co-developing activities with world leading carmakers and tuners. ADVAN is said to represent the company’s spirit of pursuing high performance and high quality products.

The new products will be introduced in markets around the world and sale of the tyres is scheduled to begin in 2005.

First introduced in 1978, ADVAN has been used for motorsports activities and high performance tyres in Japan. Its presentation at the Paris Motor Show will be the first fully-fledged introduction in the European market. Yokohama will exhibit ADVAN Sport and ADVAN S.T, its SUV tyre. The company’s run flat tyre systems, including the Z.P.S. and the Support Ring System will also be displayed at the exhibition.

22nd September 2004/by Tyrepress Editors

Yokohama to Debut ADVAN Brand at Paris Motor Show

Paris Motor Show 2004 will provide the venue for the European debut of Yokohama’s ADVAN brand, the company has said.

9th September 2004/by Tyrepress Editors

Hankook Tire’s American Sales up 30 per cent

Hankook Tire’s North American sales rose by 30 per cent in 2003 to close to 250 million US dollars. Sales were driven by increased demand for high performance tyres. In all Hankook’s exports climbed to 700 million US dollars, amounting to some 20 million tyres and a 59 per cent increase in sales of performance tyres.
The sales increase combined with increased prices helped improve the company’s bottom line more than doubling income for the first three quarters of 2003.

19th January 2004/by Tyrepress Editors

Pirelli Driving Experience delights dealers

In the US, the Pirelli Driver Experience, in conjunction with the Panoz Racing School and Audi Driving Experience is being used to entertain and educate dealers. Up to 80 dealers a day undergo expert instruction from professional drivers on vehicles fitted with Pirelli high performance tyres, thus increasing their product knowledge and appreciation.

4th November 2003/by Tyrepress Editors

Cooper Q2 Results

Cooper Tire & Rubber Company has reported results for the second quarter of the year. Net income was $13 million, compared with the all-time record earnings of $39 m for Q2 last year. Turnover was up slightly at $840 m ($836 m) and operating profit was $38 m. The Tire Group reported turnover up 4 per cent to $432 m ($414 m) while operating profit declined to $14 m from $37 m in Q2 2002. The high cost of raw materials was blamed. Overall, unit sales of Cooper brand tyres rose 8 per cent in the quarter.

21st July 2003/by Tyrepress Editors

Mercedes Contract For Thai Goodyear Plant

Goodyear (Thailand) Ltd. has been granted the contract to be the exclusive supplier of high performance tyres to Mercedes for the Asean countries. Around 15,000 tyres will be supplied monthly from August, when the contract begins – any specific tyre sizes not made by the Thai company will be sourced from Goodyear plants in other Asean countries. The contract is part of Mercedes-Benz’s plans to simplify procurement.

30th June 2003/by Tyrepress Editors