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RMA lowers 2011 forecast

The Rubber Manufacturers Association, which represents the manufacturers accountable for more than 90 per cent of all US tyre shipments, has lowered its 2011 tyre shipment forecast by one per cent due to downward revisions in year-end economic growth in the US. This revised full-year forecast of 287 million total units is approximately two million units more than in 2010. For next year, the RMA retains a “guardedly optimistic” forecast as US economic growth is anticipated to remain slow, and the association expects overall tyre shipments in 2012 to increase by more than two per cent to over 290 million total units.

5th December 2011/by Tyrepress Editors

RMI Petrol backs fuel duty freeze, highlights demand drops

The Retail Motor Industry Federation’s RMI Petrol department has welcomed chancellor George Osborne’s decision not to increase fuel duty in January. “RMI Petrol believe the chancellor has made the right decision to cancel the fuel duty increase planned for 1 January 2012” Brian Madderson, RMI Petrol chairman.

The association reports that the increase would have raised prices at the pump by 4.00 pence per litre (ppl) within days. Based on current average UK pricing this would have pushed diesel to a new record high at over 145ppl and this grade is steadily gaining market share at the expense of petrol.

29th November 2011/by Tyrepress Editors

Scrapping fuel duty increase good news for motorists – Bridgestone

Following the announcement of the government’s Autumn budget statement, which included the news that the planned 3p rise in fuel duty in January is to be cancelled, Bridgestone has been the first to publically respond to what this means for motorists. In addition to the fuel duty increase cancellation, there will a 1 per cent cap on public sector pay rises for two years after the end of current freeze next year. Borrowing is £112 billion more over the next four years than previous forecasts, but debt interest payments are £22 billion less than expected.

29th November 2011/by Tyrepress Editors

Fuel price rises 'crippling logistics industry' – FTA

The government must heed the advice of its own MPs and overhaul its fuel duty policy to avoid doing further damage to the industry and the economy, the Freight Transport Association (FTA) has warned. During a four-hour debate in the House of Commons, Chloe Smith, the Economic Under Secretary to the Treasury, heard how high fuel prices have damaged businesses and communities, restricted economic growth, hurt motorists and stoked inflation and unemployment across the country. MPs told how hauliers and businesses in their constituencies have suffered at the hands of the highest rates of fuel duty in the EU and struggled to remain competitive and solvent, citing evidence from the FTA and other organisations.

During a four-hour debate in the House of Commons, Chloe Smith, the Economic Under Secretary to the Treasury, heard how high fuel prices have damaged businesses and communities, restricted economic growth, hurt motorists and stoked inflation and unemployment across the country. MPs told how hauliers and businesses in their constituencies have suffered at the hands of the highest rates of fuel duty in the EU and struggled to remain competitive and solvent, citing evidence from the FTA and other organisations.

17th November 2011/by Tyrepress Editors

October car auction figures show car price decreases

National Association of Motor Auctions (NAMA) figures for October show that average values of used cars sold at auction decreased from £4,718 to £4,558, a 4 per cent decrease. Values for fleet cars recorded a 6 per cent decrease. Year-on-year, the average price of cars at auction has increased just 0.1 per cent from £4,554 a year ago to £4,558 this year.

17th November 2011/by Tyrepress Editors

Yokohama’s bottom line hit in H1 2011

Although enjoying an 8.4 per cent increase in sales to 258.2 billion yen (£2.1 billion) in the six months to September 30, 2011, Yokohama Rubber experienced a decline in both operating and net income during this period. The company says rising raw material costs, an appreciating yen and an increase in selling, general and administrative expenses were chiefly responsible for the decline in operating income, which fell 8.3 per cent to 7.6 billion yen (£61.2 million) year-on-year between April 1 and September 30. These factors in turn led to net income falling 75.8 per cent to 294 million yen (£2.4 million). Yokohama notes however, that its actual operating income figure was 26.7 per cent higher than its earlier projection of 6.0 billion yen, the better result being achieved thanks to increased product selling prices and cost cutting measures.Net sales during the second quarter of the current financial year, between July 1 and September 30, 2011, increased 6.6 per cent to 128.8 billion yen (£1.0 billion). In this three month period operating income actually increased by 45.7 per cent, to 3.4 billion yen (£27.8 million), however second quarter net loss grew substantially year-on-year, from 222 million yen to 2.5 billion yen (£20.4 million).

14th November 2011/by Tyrepress Editors

Michelin launches latest pub food guide

On Friday the 2012 edition of the Michelin Eating Out in Pubs guide will appear on bookshop shelves and be available online, and pub food fans obtainin a copy will find more than 530 pubs covered in the new edition, including 86 new entries. The 2012 guide retails for £13.99 (€16.99 in Ireland).

3rd November 2011/by Tyrepress Editors

Independents gaining servicing business, says report

According to the Castrol Professional Car Service and Repair Trend Tracker, franchised workshops are losing servicing business to independent and fast-fit outlets. The independent sector now accounts for 45.7 per cent of servicing work, up from 42.1 per cent last year. A decade ago, the independents' share was just 30.2 per cent.

1st November 2011/by Tyrepress Editors

62% of motorists would consider part-worn tyres, reports Kwik-Fit

According to a recent study commissioned by Kwik-Fit, as many as 1.9 million part-worn tyres may have been purchased by UK motorists in this past year – and many more drivers would contemplate buying them. The study of 2,024 UK adults, carried out by ICM Research in September 2011, not only showed that the aforementioned six per cent of car owners fitted part-worn tyres to their vehicles; it also revealed that as many as 19.3 million motorists, or 62 per cent of car owners, would consider buying part-worns.

31st October 2011/by Tyrepress Editors

Kumho announces US consumer, commercial price increase

Kumho Tire USA has issued the 99th individual tyre price hike in the US and Canada this year, planning to raise prices by up to 8 per cent on its passenger, light truck/SUV and medium truck radials tyres, reports Tire Review.

28th October 2011/by Tyrepress Editors

UK wing mirror supplier moves into export market

The UK’s leading supplier of wing mirrors, based in Bury, Lancashire, is entering the export market, taking its product to numerous countries, including Australia, Brazil, Singapore, Japan, Malta, Norway and France. Wing Mirror Man started in January 2006 and provides new wing mirrors to the public and trade. It supplies mirrors suitable for 29 vehicle manufacturers, covering more than 500 car models, and in excess of 4,000 different types and makes of wing mirrors.

25th October 2011/by Tyrepress Editors

Calibre to launch Askari wheel

Calibre has announced the next in its collection of niche wheel designs, which will launch in 2012. The Askari is “a new take on the ever-popular ‘Y Spoke’ genre,” according to the manufacturer. It is designed with motorsport aesthetics in mind; a gloss black centre sits within a polished and deep-set lip, reflecting what Calibre says are current trends.

17th October 2011/by Tyrepress Editors

BMW revises its winter tyre plans for 2011

BMW has revised its winter tyre programme following in its inaugural year in 2010. As well as offering a selection of winter wheel and tyre packages, BMW UK is offering to store and insure the spare set of summer wheels and tyres until they need to be changed again in spring for £30.

12th October 2011/by Tyrepress Editors

Price rise for Yokohama’s US consumer tyres

Prices for Yokohama’s consumer tyre products sold in the US will increase by as much as eight per cent as of November 1. Yokohama Tire Corporation director of sales, Shawn Denlein, says the new prices for its passenger, performance and light truck tyres are being introduced due to “the costs of raw materials, energy and transportation remaining at very high levels.”

7th October 2011/by Tyrepress Editors

Rubber prices remain stable, Thai floods make little impact

Recent flooding in Thailand has had less impact on natural rubber prices than may have been inspective. Deutsche Bank research shows that the impact on rubber supply has been “quite muted” and flooding around key plantations is not severe. As a result the spot price for natural rubber has reportedly continued its declining trend, hovering around US$4/kilo – a level last seen in March 2011.

7th October 2011/by Tyrepress Editors