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On the up? Pricing trends in the UK car tyre aftermarket

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With raw material prices reaching the sky-rocket part of their lifecycle, as well as realisation by some Chinese tyremakers that unrealistically low prices can’t go on forever, all in the presence of the now ubiquitous post-Brexit vote uncertainty, many industry observers have suggested that tyre prices – including those for passenger car applications – are likely to rise during 2017. Tyres & Accessories spoke with Encircle Marketing’s resident industry analysts David Myers and Jason Cunningham in order to find out more.

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Related news:

  1. UHP tyre prices recovering…
  2. e-tail tyre prices up 7% in 2017
  3. Car tyre prices recover in 2017, but still catching up
  4. SUV tyre prices in the corona context: Channel makes more difference than brand
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UHP tyre prices recovering…

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…but price erosion has forced mid-range prices down too Elsewhere in this feature we have examined sell-out data, which revealed a growth trend in the UHP segment as well as details of which UHP sizes are most popular. However, this dataset was not designed to show the prices consumers are being quoted in relation to […]

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Related news:

  1. Tyre sell-out up 4% overall, value tyre sales growth outpaces premium 4:1
  2. Pirelli’s flagship Burton Performance Centre shows what can be done with tyre retail
  3. On the up? Pricing trends in the UK car tyre aftermarket
  4. Growth in every size segment from 17” up, but rapidly slowing
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Are tyre pricing trends improving?

Following Michelin’s reporting of third quarter 2015 revenues that were slightly ahead of expectations at 5.309 billion euros on Friday 23 October, financial analysts predict that the French tyre manufacturer’s share price will respond positively as a result. However, what will perhaps be of wider interest was their suggestion that tyre pricing – which has […]

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Related news:

  1. Deutsche Bank Praises European Tyre Makers’ Margins
  2. Morgan Stanley: Michelin Revenues to Grow 7% in 2010
  3. Michelin Raises European Truck Tyre Prices
  4. Analysts highlight ‘difference in momentum’ between Continental and Michelin results
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Thai government propping up rubber prices with US$183 milion of support

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The Thai government is buying rubber from the market via a 6 billion baht (US$183 million) buffer fund to support prices. According to a Reuters report, a private fund has also been set up to support domestic rubber futures.

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Related news:

  1. Top natural rubber produces cutting exports by 240,000 tons
  2. IRSG welcomes new Thai member
  3. US economic data lifts Asian rubber prices
  4. Sinochem International Buys 51% of GMG
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CV Show launch for Michelin’s breakdown service

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Michelin is introducing a new 24/7 breakdown service for truck, bus and coach operators. The Michelin ONCall service, which uses audited and approved Michelin Certified Centres to provide coverage across the UK and Republic of Ireland, was officially launched at the CV Show today. It draws upon the combined strength of all independent Michelin Truck Professional (MTP) dealers and ATS Euromaster centres to offer a rapid-response network of more than 300 commercial vehicle-ready service points.

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  1. Industrial Tyre Association Makes Best Practice Plea
  2. Michelin urges fleets to rate tyre dealer experiences
  3. Haulier confident ATS Euromaster tyre policy will reduce costs
  4. ATS Euromaster Launches National Run-Flat Fitting and Repair Service
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Toyo opens new sales subsidiary as part of European restructuring

At present, Toyo Tire & Rubber is restructuring its Toyo Tire Europe GmbH subsidiary, with the aim of operating it as a holding company that will manage the tyre maker’s sales subsidiaries within Europe. Toyo says the restructuring will promote cohesive pricing policies and integrated marketing, optimal distribution and more agile management. As part of this, on 1 May Toyo Tire Europe will hand over sales activities for the German and Austrian markets to a new sales subsidiary, Toyo Tire Deutschland GmbH. This new subsidiary will have responsibilities similar to those held by Toyo Tyre (UK) Ltd and the company’s other national sales organisations. It will be located at the same address as Toyo Tire Europe and Naoki Gonsui will serve as president of both operations.

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  1. Toyo Establishes a New Sales Subsidiary in Europe
  2. Prices Up at Bridgestone Europe
  3. International Tyres and Trading Right Distributor for Sumo Firenza
  4. Trelleborg Appoints New Galaxy Brand Manager
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Tyre retail market showing signs of price polarisation

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Last month’s leader “Pumping up” discussed how a number of key economic and tyre market indicators are pointing to better days ahead in the tyre market. Then in mid-April ETRMA reported that its members experienced double-digit increases in (sell out) sales during the first quarter of 2014 compared with the low first quarter of last year. But how does this translate into retail demands and what strategies are tyre retailers adopting to make the most of any consumer pickup coming through? Here Tyres & Accessories analyses the latest research from Encircle Marketing in light of recent macro-economic indicators.

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If you are not yet a Tyrepress or Tyres & Accessories subscriber, you can change that here.

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Becoming a member has benefits such as:

  • Read our sector-leading articles in full
  • Full analysis of tyre business segments
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Related news:

  1. Tyre retail market in a redistribution phase
  2. Micheldever’s Protyre retail chain is UK’s fastest growing
  3. UK tyre retailers continue right-sizing
  4. ETEL continues to lead top 20 UK tyre retailers 2019
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Schaeffler fined €370.5M for bearing cartel participation

Continental AG majority shareholder Schaeffler AG is one of five companies that have been handed substantial fines for operating a cartel in the automotive bearing market. The European Commission fined the companies a total of more than €953 million, with the largest single fine given to Schaeffler. The German manufacturer must pay €370.5 million, almost 40 per cent of the total penalty.

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Related news:

  1. Schaeffler to become public company
  2. EC to investigate anticompetitive practices in automotive exhaust sector
  3. Pirelli to appeal EC cable cartel fine
  4. Continental fined for participating in braking systems cartels
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Bridgestone makes 3 commercial segment appointments

Bridgestone has announced three new US-based marketing appointments within its Bridgestone Commercial Solutions business. Matt Loos has been promoted to director of truck and bus marketing, Michelle Lane has been promoted to director of off-the-road marketing, and Cassandra Kilareski has joined the Bridgestone Commercial Solutions marketing team as senior manager of marketing communications and digital.

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Related news:

  1. Kurt Danielson appointed to lead Bridgestone’s US & Canada commercial tyre operations
  2. Bridgestone Firestone Announces Two Key Appointments
  3. Bridgestone Bandag Sets US Price Increases
  4. Bridgestone to raise North America commercial tyre prices
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Moody’s affirms Goodyear rating, says “outlook positive”

Moody’s Investors Service has affirmed Goodyear Tire & Rubber Company’s, Corporate Family Rating at Ba3 and Probability of Default Rating at Ba3-PD. In addition Moody’s has revised the company’s rating outlook to positive from negative. The Speculative Grade Liquidity Rating was affirmed at SGL-2. The news is likely to be interpreted as a signal of improved financial performance at Goodyear, following the publication of good financial results from the US tyremaker yesterday (13 February 2014). The timing of the announcement is also interesting in light of the new that Goodyear and Sumitomo are dissolving their joint venture.

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Related news:

  1. Goodyear to Invest $600 million in US Union Plants Over 4 Years
  2. US tyre demand showing ‘signs of recovery’
  3. SEC filing sheds light on Goodyear exec compensation
  4. Analysts: Goodyear break-up is bad news for Sumitomo
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Autopart Tyres helps Darcy’s get off the ground

MAM Software reports that its MAM Autopart Tyres has helped Darcy’s of Durham get its business up and running. With in-built point of sale functionality, Autopart Tyres gives Darcy’s access to extensive features such as labour allocation, parts look up, and technical data. Darcy’s can also keep in touch with its customers by SMS and email, which reduces the cost of postage and paper. The cloud-hosted Software as a Service (SaaS) approach allows the company to spread server license fees through monthly payments.

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  3. MAM To Introduce EDIWHEEL E-Commerce Functionality
  4. Strathclyde Tyres Wins Exel Scotland Contracts Supported by Cameo
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Parts Alliance reorganises leadership

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Peter Sephton, who joined as Parts Alliance group CEO in August 2013 has announced some senior appointments. Sephton is aligning the four businesses into two regional alliances, the Western Alliance formed from GMF and CES and the Eastern Alliance, formed by SCMF and Allparts. Each Alliance will share resources, systems and best practice to accelerate growth, facilitate new branch openings, develop staff training and invest in tools to take customer service to world leading standards.

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Related news:

  1. Parts Alliance acquires 3 more Unipart Automotive sites, appoints ex-Car Care head
  2. Second ex-Unipart Automotive director appointed regional Parts Alliance MD
  3. Exclusive Distribution of Alliance
  4. Parts Alliance wins £4 million Micheldever prime supply partner deal
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Nokian handed additional tax bill

A famous saying posits that nothing is certain except for death and taxes, but Nokian Tyres may argue that taxes and then further taxes are more certain. Following on from the reassessment and €26.9 million bill received in December for the 2007 financial year, Nokian Tyres announced on 21 January that Finland’s Tax Administration has also reassessed Nokian’s tax for the years 2008 to 2010. According to this reassessment, the tyre maker must pay an extra €73.3 million tax and interest (€51.0 million of which is tax) for these three years. Payment must be made in February 2014.

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Related news:

  1. Nokian to appeal tax bill
  2. Nokian issues profit warning
  3. After ‘somewhat lower’ 2013, Nokian expects ‘profitable growth’ next year
  4. Analysts: Nokian Q3 ‘better than expected’, Q4 ‘weak’
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Maxxis revises motorcycle radial pricing

For 2014, Maxxis International aims to make motorcycle tyre sales more rewarding than ever – and to accomplish this, it has revised its UK dealer pricing policy and made entry into its fully-supported ‘Elite Dealer Program’ even easier. By doing so, the company says dealers can benefit from lower trade prices and healthy profit margins, along with aggressive marketing and Maxxis’ rewards scheme.

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  1. Marketing strategies for the retreading industry
  2. Online Tyre Sales Still a Mid Range Market
  3. Grouptyre incorporates Landsail, Rapid into brand strategy
  4. New Maxxis pages ‘more than just a website’
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Nokian to appeal tax bill

On 30 December, Nokian Tyres received the unwelcome news that a reassessment made by Finland’s Tax Administration has determined the company must pay €26.9 million in additional taxes, plus punitive tax increases and interest, for the year 2007. The full amount will be recorded in Nokian’s 2013 financial statement and results. The company says it will appeal the ruling, however should it be upheld Nokian’s corporate tax rate will rise over the next five years to the maximum rate of 22 per cent, rather than to the previously announced 17 per cent.

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  1. Nokian handed additional tax bill
  2. Nokian experiencing increased demand, especially in Russia
  3. Nokian to build second plant in Russia
  4. 1,000th Vianor outlet to open before year’s end
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