Snap-on Tools, reportedly the UK brand leader in tools, tool storage and aftermarket workshop equipment, is celebrating its 45th anniversary by reporting the record sales it achieved in 2009. According to the company, Snap-on Tools’ sales exceeded £100 million for the first time, the third consecutive year of record sales levels. Sales are said to have grown in every product group – tool boxes, hand tools, power tools and hand-held diagnostic equipment.
Indonesian tyre exports hold a market share of around 30 per cent in Egypt, and according to the Jakarta Post, tyre makers have retained their confidence about this market despite the announcement of plans late last year to refurbish an idle plant their and turn it into the Middle East’s largest tyre manufacturer.
On January 12 Bridgestone Corporation announced its selection as tyre supplier for the Mitsubishi Regional Jet (MRJ), the next-generation regional jet under development by Mitsubishi Aircraft Corporation. For Bridgestone this deal is significant, as while the company’s aircraft tyres are already supplied for use on large aircraft with 100 or more seats, the supply of tyres for the MRJ, a regional jet in the 70 to 90-seat class will further expand the scope of the company's aircraft radial tyre business.
In 1997, Vredestein introduced the first four dimensions in its Traxion+ tractor radial line-up, and the company notes these tyres were an instant success. More than a decade on and Vredestein says the Traxion+ tyres are still gaining market share in almost all European countries. A new tyre based upon the Traxion+ design has now been produced. Vredestein calls it the TraxionXXL.
Mike Wise believes the tough times of 2009 has given companies a ‘work out’ that will enable them to be stronger and fitter in 2010. Talking about the coming year, the Kwik-Fit Fleet head comments “companies are leaner and meaner as 2010 dawns, having already cut operating costs, and that means the industry is in good shape to face up to the challenges of the New Year. Despite the impact of the January 1 implementation of the VAT rise back to 17.5 per cent, we do not expect to see the significant increase in tyre prices that we witnessed towards the end of 2008 and the early months of 2009 as the recession took hold.
The establishment of Wegmann Automotive in October 2009 saw some of the world’s leading wheel weight brands (Hofmann, Franken, F-Ecoline and Perfect [US]) reorganised into a single unified group. Now united under the Wegmann umbrella brand, sales and marketing director Thorsten Thom reports that the company is facing the current market challenges well and in certain cases actually gaining market share. Thom also praised the positive impact made by recently appointed UK sales manager, David Peacock. According to Thom, 2009 UK market sales have experienced double-digit growth compared with 2008.
Performance Wheels Ltd, distributors of the award winning Tyresure aftermarket tyre pressure monitoring system (TPMS) have been appointed as the official UK distributor for the ATEQ range of TPMS trigger tools, headed by the capable new ATEQ VT55 OBDII. ATEQ is reportedly the global number one supplier of TPMS trigger and activation tools both for OEM assembly lines and aftermarket ‘fast fit’ and tuning shops. With offices in 22 countries and over 5,000 major customers, their range is already used and approved in over 270 OEM installations worldwide. Their sales figures of over 30,000 TPMS products annually reflect the fact that they are used on almost every production line of almost every global manufacturer.
With TPMS set to become a legal requirement by 2012, company representatives said the timing of the deal is perfect. The ATEQ units simply plug into any cars OBDII port to allow the unit to interrogate and update the integrated central electronics system to ‘marry’ any new TPMS sensors to the car. Not only is the ATEQ hardware compatible with ALL currently known TPMS sensors, but it also has in-built synchronisation software that ensures that it stays up to date with all new TPMS sensors introduced each year. Already in use at franchise level with manufacturers like Chrysler and Peugeot, the tool can communicate with manufacturers’ systems like Renault, Citroen, Peugeot, Honda, Subaru, Mitsubishi, Nissan to name but a few.
Although the US decision to charge tariffs on consumer tyres produced in China has presented the country’s manufacturers and importers of the product with a sizeable hurdle to their business, the Kasikorn Research Center, a subsidiary of Thailand’s Kasikornbank, believes the decision presents Thai exporters with a major opportunity to increase their market share.
Hankook Tire has given word that, as of December 1, Soo Il Lee will take over from H. Y. (Greg) Pae as president of Hankook Tire America Corp. In addition to his new role, Lee will also serve as COO for the company’s business operations throughout the Americas, and in this capacity will be responsible for the overall growth and marketing strategies for the US, Canada, Mexico, Central and South America. Following several years in the US, Pae will return to the company’s global headquarters in Seoul.
The Chinese Ministry of Finance and Commerce (known as Mofcom) continued its ongoing campaign against what it describe as the Obama administration’s politically motivated implementation of anti-dumping tariffs on Chinese-produced passenger car tyres imported into the US. Speaking to Tyres & Accessories after Mofcom’s presentation during the Tire Tech seminar series at the Reifen China in Shanghai, Wang Xin (Mofcom Bureau of Fair Trade representative) said Chinese tyre companies along with industry associations should seek a review of the 35 per cent import tariff brought in September. This approach would be based on the US government’s own standard policy of reviewing trade sanctions after six months. Washington DC firm Squire Sanders Dempsey is providing legal representation in the matter.
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With sales reaching 9,772 in September, Kia Motors (UK) Ltd. has hit a new record for the brand in any European market. No Kia subsidiary or distributor in Europe has ever sold so many new cars in one month throughout the brand's history and with total sales for the year passing 34,700, the UK performance has overtaken Kia Motors Deutschland – traditionally the biggest market in Europe.
The result gives Kia a 2.66 per cent market share in the UK – and a 3.73 per cent share of the retail market in September – both new records for Kia. Kia's Picanto was the runaway leader in terms of sales, with 3,395 registered during the month. Rio was hot on its heels with 2,066 sales followed by the cee'd family at 1,592 – before the new model introduction from 1 October and Sportage at 792.
Michael Cole, managing director said: "It would be wrong to say that the Government's scrappage scheme hasn't helped us and in particular Picanto has proved very popular amongst those trading in 10 year old cars. But our September performance and our year-to-date result cannot be attributed to scrappage alone.
Bridgestone has been selected to supply tyres for the Airbus A350 XWB (eXtra Wide Body). The tyres fitted to the aircraft, comments the Japanese tyre major, will include its “RRR” (Revolutionary Reinforced Radial) construction, which Bridgestone says will contribute to reduced fuel consumption, enhanced cost management, and improved safety.
Financial analysts have given Delticom AG a “Buy” rating and a set 24 euro target price, above the company’s current level of around 20 euros. The Deutsche Bank analysts described Delticom as “a very attractive business model in the fragmented tyre replacement market” and were clearly impressed with their performance to date. “In 2009, one of the worst years ever in the tyre industry, Delticom targets 10 per cent revenue growth and increased its EBIT-margin outlook from 6 to 7 per cent. We think Delticom's eCommerce focus will lead to further market share gains and allows for annual revenue growth of 13.4 per cent and earnings per share growth of 18.4 per cent (estimated company annual growth rate from 2008-2011).”
In the US, Cooper Tire & Rubber Co has announced that it has finalised an agreement with Sears Holdings to supply Sears Auto Center facilities nationwide with two full lines of passenger tyres. The agreement will entail the manufacturing and sale of the Sears Guardsman Plus and the Cooper Response Touring passenger tyre lines.
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