Last year 6 million vehicles were sold on the Chinese market, making China the world’s second largest auto market. According to a Reuters report, China produced more vehicles than third-place Japan, but is still behind the US which remains the world’s largest market.
Michelin does not envisage raising prices in Europe at the moment, despite price increases in North America and Japan. “Our philosophy has not changed, we reflect the rise in the prices of the raw materials in our selling prices,” Reuters quoted one Michelin spokesperson as saying. Michelin’s last price increase in Europe was a year ago.
Continental Automotive Systems is opening its new headquarters in Shanghai China today, and has announced plans to build a new technology centre in Yokohama, Japan creating 250 new engineer positions.
By the year 2010, the Automotive supplier intends to generate at least 50 per cent of its new sales through agreements with non-European automobile manufacturers. It wants to double sales in Asia and is therefore intensifying its presence to strengthen its
position in this growth market.
Alcoa Wheel Products achieved a European record when the Székesfehérvár, Hungary plant produced its four millionth forged truck wheel on 6 October 2005.
Alcoa sees the achievement as a reflection of the company’s position as the largest forged aluminium wheel supplier in Europe. Customers include European truck manufacturers Scania, Volvo, Renault, DaimlerChrysler, MAN, DAF, Iveco, and European trailer manufacturers such as Feldbinder, Spitzer, Benalu, Schmitz, Krone, to name just a few.
The shareholders of US wholesaler, TBC Corp, have approved the company’s purchase by Sumitomo Corp of America. Sumitomo America, a subsidiary of Japan’s Sumitomo Corp will pay $35 in cash per TBC share. Including debt, the total acquisition value is about $1.1 billion. The transaction is expected to close later this week, the company said in a statement
The Yokohama Rubber Co Ltd posted a 10.7 per cent increase in operating income, to 4.8 billion yen, in the interim fiscal period ended 30 September. The increase is attributed to a 6.1 per cent increase in net sales, to 201.3 billion yen. Furthermore the company reports that growth in unit sales of tyres and progress in reducing costs more than offset increases in raw-material costs. Leading the sales growth were gains in Yokohama’s tyre operations in North America and in Europe. The company also registered growth in sales of tires in Japan. A decline in income taxes was the chief reason for a 12.6 billion yen increase in net income, to 13.4 billion yen.
(Akron/Tire Review) The Wall Street Journal reported this morning that Bridgestone/Firestone North American Tire (BNAT) is now recommending a maximum life span for passenger vehicle tyres – 10 years. This is a clear break from other US tyre companies, which have fought state and federal attempts to mandate a specific life span and/or require “born on” dates on tyre sidewalls.
Bridgestone Corp has announced a 32.5 per cent increase in profits, resulting from increased sales volumes and prices increases. While the company appears to have offset the effects of higher raw material costs, Bridgestone executives have left the business’ annual outlook unchanged.
(Akron/Tire Review) Yokohama Rubber Co. has released its Intelligent Tire Pressure Monitoring System (Intelligent TPMS), which not only measures tyre inflation pressure, but also identifies road conditions and tyre motion across the road surface.
Yokohama said that combined with “sideslip (stability control systems) prevention systems being installed on more and more vehicles, Intelligent TPMS can detect vehicle sideslips 0.2 seconds faster than existing systems – a difference of 11 meters of travel at a running speed of 100 kilometers per hour.”
Michelin representatives have appealed for information regarding the whereabouts of a Michelin Z BTO, which they say was stolen from service facilities during the recent Rally Japan. The incident reportedly took place at the Obihiro service park during the night of 1 October. As you might expect the manufacturer was less the impressed. “The Michelin Group considers acts of this sort to be extremely serious and unreservedly condemns such acts of industrial and technological espionage,” an official statement said implying that the tyre was stolen by a competing manufacturer.
The UK finalist of the Bridgestone e-reporter competition, Mike Channell, has been announced as the overall winner of its pan-European Bridgestone e-reporter young journalist competition.
He attended the European Grand Prix as part of his prize and reported on the inaugural GP2 Series for Bridgestone Europe and the GP2 Series’ websites. Channell will fly to Japan for this year’s Tokyo Motor Show, and also received a new laptop.
The Japan Automobile Tire Manufacturers Association (JATMA) has reported that domestic tyre production grew to 13.5 million units in August, up 1.1 per cent year-on-year. The 13th successive month is significant because output levels are generally down in August, when factories shut down for summer holidays.
Sumitomo Corp, the third-largest trading house in Japan, said it has reached an agreement to acquire US automobile tyre retailer TBC Corp this year for some 120 billion yen (£600 million). Sumitomo said it will complete the acquisition at the end of December. The acquisition is intended to solidify Sumitomo’s existing tyre business and increase profits by expanding into tyre retailing, the company said in a statement. The Japanese company plans to expand its tyre business in the U.S. by adding TBC’s more than 1,000 retail stores to its Treadways Corp. wholesaling business.
Jussi Valimaki (Finland), of Team MRF Tyres, won the Indonesian round of the Asia Pacific Rally Championship at Makassar during the September 10/11, 2005 Gudang Garam International Rally 2005.
Driving a Mitsubishi Evo 8, the Indonesian victory also confirmed the FIA Asia Pacific Rally Championship Drivers’ title for Valimaki, the 31-year old MRF Team driver, who collected 15 points and reached a total of 70 points in the Drivers’ Championship – a lead that no APRC driver can match this year. Valimaki wins both the overall and the Group N categories.
Federal’s 595 competition tyre has reportedly become something of a favourite amongst professional Japanese drifting drivers. According to popular Japanese drifting magazine, Drift Tengoku, 54 contestants participated in the recent D1 Super Challenge in Japan. Five contestants, 9.3 per cent of the total number of competitors, used Federal’s 595 on their vehicle. Second place driver Atsushi Goto used 215/40/17s on the front and size 215/45/17 on the rear. Atsushi Goto noted that the wear and tear on his 595s was minimal after the event, according to Federal.
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