prices Archives - Page 39 of 90 - Tyrepress

Posts

Dunlop Zimbabwe to Seek Production Boost

Local news sources have quoted Dunlop Zimbabwe managing director, Kennedy Mandevani, saying that the company is looking to capitalise on the decrease in rubber prices by boosting production. Dunlop Zimbabwe has experienced an increase in sales following its licensing by the country’s Reserve Bank to deal in foreign currency. This has provided the company with the opportunity to import raw materials, though Mandevani said that FOLIWARS sales are “not generating enough foreign currency for raw material importation yet.” He said that the company may seek “short-term external financing to bridge this gap.” It is hoped that by increasing production, the additional foreign exchange sales, and the benefits associated with them, will come.

23rd February 2009/by Tyrepress Editors

American Pacific to Market Pegasus PCR Tyre Brand in Europe

American Pacific Industries (API) is preparing to introduce its Pegasus passenger car tyre brand into the European market in the second quarter of 2009. The range, which will be available in a range of 14 to 24-inch sizes will be distributed exclusive in the EC countries by InterSprint. API told Tyres & Accessories that Pegasus is the European version of it Spector tyre programme, which has been re-engineered for the European market.

According to company literature, API has built its name on developing “first class American engineered, Chinese manufactured products with a reputation for consistent quality and good value.” API says it is actively seeking partners “in most regions of the world.”

18th February 2009/by Tyrepress Editors

Stapleton’s Supplying 4×4 Tyres to Suit Every Pocket

As one of the largest distributors of passenger car tyres in the UK, Stapleton’s says it attempts to ensure it has a tyre suitable for every retailer and in every price bracket. In the 4×4 and SUV tyre segment the company accommodates retailer requirements by stocking all major brands.

Of late, 4x4s have found themselves on the wrong end of new tax policy, and this combined with the credit crunch and high fuel prices, has affected the already above average running costs associated with this type of vehicle. Some consumers now feel the need to more closely monitor their spending and make savings of their purchases. To make sure it can help tyre retailers faced with this situation, Stapleton’s says that its wide 4×4 rage includes both premium and more price oriented products.

13th February 2009/by Tyrepress Editors

Earnings Down Sharply at Yokohama Rubber

Yokohama Rubber has released its results for the first three quarters of the current financial year, and the company has joined the growing list of firms whose income has been severely curtailed in recent months. Operating income to December 31, 2008 declined 43.8 per cent from the same period of the previous year, to 17.3 billion yen (£134.19 million), on a 0.2 per cent increase in net sales, to 410.6 billion yen (£3.18 billion). Net income declined a whopping 99.1 per cent, to 222 million yen (£1.72 million).

Sales growth in Yokohama’s Tire Group offset a decline in the Multiple (diversified) Business Group, the company reports. Operating profitability suffered from the rise in raw material costs during most of the nine-month period, from the appreciation of the yen, and from the sharp decline in demand for tyres and hoses, which undermined productivity in those product sectors. Net income reflected the downturn in operating profitability, the effect of the strengthening yen on foreign currency–denominated sales receivables and on debt liabilities at overseas subsidiaries, and the partial relinquishment of a tax benefit associated with the write-down of unrealised gains on inventories.

13th February 2009/by Tyrepress Editors

Rosava and Belshina at Odds About Tyre ‘Dumping’ Allegations

OJSC Rosava has initiated an anti-dumping investigation into Belarusian tyre imports. According to online news sources, the company addressed the Ministers Cabinet and the Economics Ministry of Ukraine with the request to protect national tyre makers from so-called dumping imports.

According to the information provided by the Ukrainian state organisation “Ukrzovnishexpertyza”, OJSC Belshina is the only Belarusian company currently importing tyres into the Ukraine. 811,439 units were imported in 2008. The company’s tyre imports into Ukraine amounted to 263,121 units (valued at US$4,892,765) in 2005. In 2006 this figure grew 49.24 per cent (US$8,267,427). And by 2007 Belshina was importing 632,772 tyres a year into Ukraine, 2.4 times more than in 2005. The press-service of the organization notes that, in these instances, import prices were lower than local market prices – By 5.3 per cent in 2005; 14.3 per cent in 2006 and 22.7 per cent in 2007.

10th February 2009/by Tyrepress Editors

Falken’s UK Tyre Sales Soar 30% in 2008

Falken representatives are reporting that the Japanese brand saw UK sales shoot up 30 per cent in 2008, “making Falken in the UK the largest growth area for Falken in Europe if not the world.” The aim is to make Falken a leading brand in the mid-range segment, a part of the market that industry observers expect to swell further as the economic climate appears to be prompting premium customers to look for more competitively priced alternatives.

Jon Limmer, Falken brand manager, commented: “Our dealer network have embraced the simple structure we have implemented which reflects the Micheldever policy of ‘right product, right price, right time.’ Consistency is crucial to the development of any program and we have enjoyed this for some time with Falken. We work together as a partnership and the results are there for all to see.

4th February 2009/by Tyrepress Editors

Kwik-Fit Asks: Are You an MOT Virgin?

Four decades ago Jimi Hendrix asked us all, in song, the question ‘are you experienced?’ – and it seems the answer may well be a resounding ‘no’. According to Kwik-Fit, many of us are by no means experienced when it comes to the periodic inspections our vehicles require: Some two million UK motorists remain, in the fast fit specialist’s own words, MOT virgins.

To qualify for virginal status, at least in regards to MOT inspections, a person must have never kept hold of a car long enough to have put it through an Mot test. As previously mentioned, more that a few motorists have yet to have their first-time experience. And on top of these, a further one million drivers haven’t put a car through an MOT inspection for at least a decade.

27th January 2009/by Tyrepress Editors

Malaysia Cutting Rubber Exports 5% in 2009

Cuts in rubber exports have begun in the world’s third-largest rubber producing nation. Malaysia’s Plantations Industries and Commodities Minister Datuk Peter Chin confirmed that the government’s plan to reduce rubber exports by around five per cent this year is underway, and it now remains to be seen whether the measure will bring prices out of the doldrums.

“For the first quarter, Malaysia will reduce rubber exports by 22,000 tonnes,” said Chin. “For the whole of 2009, it will be 57,050 tonnes.” Last year Malaysia exported 1.1 million tonnes of rubber. Along with Thailand and Indonesia – the number one and two global rubber producers – Malaysia has committed to removing approximately 915,000 tonnes of natural rubber from the world market. The three countries, which comprise the International Rubber Consortium (IRCo), also say that a reduction of up to 1,345,000 tonnes is possible, but only if prices further weaken.

22nd January 2009/by Tyrepress Editors

Michelin Launches Guide Great Britain & Ireland 2009

The latest edition of our national Michelin Guide, ‘Great Britain & Ireland 2009’, is scheduled for a January 23 release. This year it carries a price tag of £15.99 in Britain and 19.99 euros in Ireland

Included in this year’s guide are four new two-star restaurants (The Dining Room at Whatley Manor, Alain Ducasse at The Dorchester, Hibiscus and L’Atelier de Joël Robuchon) and 26 new one star establishments. Making-up the list of ‘Rising Stars’ for 2009 are three establishments tipped for two stars (Tom Aikens, The Ledbury and Nathan Outlaw) and one that’s tipped for three stars (Alain Ducasse at The Dorchester). There are also 21 new Bib Gourmand establishments offering ‘good food at moderate prices’ – three courses for less than £28 (40 euros in Ireland).

19th January 2009/by Tyrepress Editors

JK Tyre Joins in Truck Tyre Price Slash

JK Tyre is the latest of the large Indian manufacturers to announce a large cut in the price of its tyres, reducing them by 400 rupees. In Mumbai, The Hindu reports that company president, Arun K Bajoria stated, “JK Tyres has reduced the price of truck tyres by 400 rupees in view of lowering of rubber prices.” The cut is the second in two months, following the Cenvat-related reductions in December (see Tyrepress.com for details).

These reductions come in a marked contrast to the last two years’ consistent and sharp upwards trajectory in India’s tyre prices, which totalled a 40-45 per cent increase. The increases were tracking the rising cost of natural rubber, though – much to the chagrin of the All India Motor Transport Congress – when rubber dropped in value, commercial tyre prices remained high. The AIMTC recently spent eight days conducting a nationwide strike due in part to the continued high prices of tyres.

16th January 2009/by Tyrepress Editors

Bridgestone Share Rating Cut to “Sell”

Bloomberg is reporting that the slump in the car market and subsequent deflation in demand for car parts has led to shares in tyre manufacturers on the Tokyo Stock Exchange entering a slump. The decrease in prices has led to Goldman Sachs analysts to downgrade its rating of shares in the world’s largest tyre maker by sales, Bridgestone, from “buy” to “sell.”

Close of play on 15 January saw Bridgestone decline 4.2 per cent to 1,279 yen, while other large manufacturers Yokohama and Sumitomo decreased 7.9 and 6.6 per cent, to finish at 375 and 652 yen respectively. Both companies are also rated as “sell” by Goldman Sachs. Yuki Kimura, writing in his analyst report, said that manufacturers “will likely face increasing pressure to cut costs from carmakers, which are looking at deteriorating results.”

15th January 2009/by Tyrepress Editors

Tyre Producers Now Paying for BR Monthly

A number of tyre makers have reportedly opted to settle their Asian butadiene rubber (BR) contracts on a monthly basis amidst weak demand causing a volatile pricing environment. According to a news report published on icis.com, BR contracts in Asia are usually settled on a quarterly basis. “BR January spot prices have plunged to around $1,100/tonne (€836/tonne) CFR (cost and freight) Asia, down by more than 70 per cent from its peak of $4,000/tonne CFR Asia in the fourth quarter last year,” the website reported.

“By April, there will be a clearer price direction but certainly in the first quarter of this year, prices are expected to fall further to around or below $1,000/tonne CFR Asia,” the website quoted one Indian tyre manufacturer as saying.

14th January 2009/by Tyrepress Editors

Extended Fleet Replacement Cycles a Major Opportunity for Kwik Fit

One result of the recession is that fleet operators are prolonging the time they hold onto their vehicles. This is not such great news for used car dealers that previously snapped up the steady stream of three year old ex-fleet vehicles entering the market, but Kwik-Fit says lengthening fleet replacement cycles are providing it with a major business opportunity – tyre consumption rises and an increasing volume of MoTs and service and repair work is required as vehicles move into their fourth year of operation. Yet simultaneously, one of the biggest challenges facing Kwik-Fit Fleet and fleet decision-makers is cost management and the recent, unprecedented increases in the price of tyres.

13th January 2009/by Tyrepress Editors

Indonesian Tyre Production to be Flat in 2009, Says Industry Expert

Indonesia’s passenger car tyre production may prove to be weaker than initially expected in 2009, warns a senior representative from the country’s tyre industry. According to Aziz Pane, chairman of the Indonesian Tyre Producers Association, production may remain unchanged from 2008’s output of 41 million units.

“Initially, we expected car tyre production to hit 45 million units, but after the financial crisis demand is slowing,” he said. Pane added, however, that a recovery is anticipated before the end of 2009. Approximately 80 per cent of Indonesia’s passenger car tyre production is exported, therefore global automotive industry fluctuations are strongly felt by manufacturers.

13th January 2009/by Tyrepress Editors

Conti Appoints Tire Division R&D Application Management Provider

On January 13 it was announced that Continental AG has entered into an agreement with T-Systems (the enterprise customer division of Deutsche Telekom) and business process outsourcing provider Cognizant. The two companies will jointly provide application management services to the research and development operations of Continental’s tyre divisions in Hanover, Germany, beginning in 2009.

13th January 2009/by Tyrepress Editors