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Goodyear Sets Quarter and Half-year Sales Records

Godyear Tire & Rubber Co today reported second quarter sales of $5.1 billion (up 3 per cent on 2005), a record for any quarter. Segment operating income reached $267 million, with net income amounting to $2 million. According to the company, the sales growth reflects improved pricing and product mix driven by demand for the company’s branded tyres in the consumer replacement markets, and the favourable impact of currency translation. Revenue per tyre increased 7 per cent compared to the second quarter of 2005.

4th August 2006/by Tyrepress Editors

GM Sues Goodyear For Withholding Tyres

(Akron/Tire Review) The Macomb Daily has reported that General Motors has sued Goodyear Tire & Rubber Co., accusing the Akron tyremaker of withholding tyres in an OE tyre pricing dispute. The suit, said the newspaper, was filed in Macomb County Circuit Court. According to the paper, the lawsuit claims Goodyear recently stopped delivering OE tyres for certain GM vehicles. The disagreement apparently stems from Goodyear’s efforts to increase OE contract pricing due to heavy raw material costs burdens.

3rd August 2006/by Tyrepress Editors

LSUK Seeks Retail Battery Partners

LSUK, which claims to be the largest single supplier of batteries in to the UK automotive, marine, leisure, industrial and commercial industries, is giving proactive garages, fitters and retailers the opportunity to join its battery programme – and reap numerous rewards at the same time. The UK battery market is estimated to be worth £120 million in retail sales every year and LSUK has established itself as a leading player in the sector with the unrivalled service that it can offer. With 52 distribution branches nationwide, LSUK is in the position to offer first class product availability from stock, access to the best brands on the market, and arguably the most competitive pricing structure in the battery sector.

27th July 2006/by Tyrepress Editors

Bridgestone Sues Chemical Supplier

(Akron/Tire Review) Bridgestone Americas Holding Corp. has sued Connecticut-based Chemtura alleging that the firm and other chemical suppliers colluded on pricing. Such collusion, if proved, is illegal under the Sherman Antitrust Act. According to news reports, the latest lawsuit was a result of a previous suit against Chemtura and other chemical companies that was filed in the Northern District of California. A settlement was reached with all of the other companies except Chemtura, according to Bridgestone Americas.

14th July 2006/by Tyrepress Editors

Tigar, Goodride Prices Reduced

Viking International has realigned its pricing structure for the Tigar economy brand in response to strong demand. With trade prices starting from as little as £10 the tyre is certainly a competitive choice. The sales support package includes information leaflets for your customers, stickers and reception/window posters. Viking has also reduced the prices it is charging for the Goodride budget tyre brand. Again trade prices start at just £10 and there are said to be a variety of sizes available.

22nd June 2006/by Tyrepress Editors

Analysts Point to Boom in Brazilian Vehicle Production

Brazilian motor vehicle production is on a roll, with both output and export figures reportedly at all time highs in May 2006, according to the Brazilian Motor Vehicle Manufacturing Association, Antavea. The exact figures have not yet been published but they must be higher than April’s 182,481 passenger car registrations to break the record production figures. In 2005 the Brazilian vehicle manufacturing industry produced 2,009,494 cars, 365,648 light commercial vehicles 153,158 commercial trucks and buses.

13th June 2006/by Tyrepress Editors

Goodyear Has Record First Quarter

Goodyear Tire & Rubber Co. reported a net income of $74 million for the first quarter of the year against record first quarter sales of $4.9 billion. Sales for the quarter were up 2 per cent compared to the same period last year, while the net income results were up 9 per cent versus the first quarter of 2005.

Sales declined 5 per cent in the European Union Tire business compared to the first quarter of 2005, which was the strongest first quarter in the unit’s history. Price and product mix improvements were not enough to offset unfavourable currency translation of approximately $98 million and lower volume in the consumer replacement market.

5th May 2006/by Tyrepress Editors

TIA Hires Director of Membership

The Tire Industry Association (TIA) announced the hiring of Megan Schwartzmeyer as director of membership. To meet the growing demands of the membership department, Ms Schwartzmeyer will focus on membership sales and services.

3rd May 2006/by Tyrepress Editors

Just Tyres Opens Huntingdon Outlet

Following the successful launch of the company’s Aldershot branch, Just Tyres has now opened its first outlet in Cambridgeshire. The Huntingdon branch opened its doors on Good Friday, and is already reporting buoyant sales. Being new to the area, Just Tyres has been very active promoting the business focusing mainly on its transparent pricing policy and promise to sell nothing but tyres to customers. In addition, they have been offering customers free tyre checks, balancing and tracking, and given away a range of prizes to both to ‘lucky customers’ and prize draw winners, which is all reported to have helped drive people through the doors.

18th April 2006/by Tyrepress Editors

Nick Manning to Assume Buying Responsibility at Group Tyre

Group Tyre (UK) Ltd has announced the appointment of Nick Manning as director of purchasing. Joining Group Tyre after a substantial career within the Continental Tyre Group Limited, he assumes the full buying responsibility from Larry Cross, whose role as Coordinating Director of Group Tyre continues.

Welcoming Nick Manning’s appointment Larry Cross, said, “Nick’s huge depth of experience of the industry will be a huge asset to Group Tyre. His substantial business development and brand strategy expertise, together with his unique insight into every aspect of the UK tyre market is an invaluable resource. This can only further strengthen the position of Group Tyre as the UK’s leading independent wholesaler and hugely benefit both our members and their customers.”

13th April 2006/by Tyrepress Editors

Bridgestone UK Marketing Analyst

Bridgestone UK has promoted Raj Sangha to the role of marketing analyst, replacing Sally Whittall, who recently took up the role of area sales manager for the Midlands. Raj Sangha has worked at Bridgestone UK for more than three years as a query controller, where she was responsible for relaying pricing structures and discounts to the sales teams. She now joins the marketing team where she will help determine the company’s pricing policies.

7th April 2006/by Tyrepress Editors

Analysts Cautious About Goodyear Cost-Cutting

Deutsche Bank analysts have reacted cautiously to the news that Goodyear is closing its Dunlop Tyre factory in the U.K. and ceasing production of bicycle tyres and inner tubes at its Poland plant. The company expects these actions to generate after-tax savings of between $30-$40 million per year. Goodyear has previously announced that it is targeting $250-$350 million in annual cost savings from reducing high cost capacity and shifting production to lower cost markets.

6th April 2006/by Tyrepress Editors

Toyo to Raise Truck, Bus, OTR Tyre Prices

(Akron/Tire Review) Toyo Tire USA Corp. will raise prices on medium truck, bus and OTR tires, effective 1 April. Commercial (medium truck and bus) tyre prices will increase by 5 per cent, and OTR tyre prices will be bumped up 7 per cent.

28th March 2006/by Tyrepress Editors

Higher Prices Could Affect More Than Wheel Makers: MEMA

(Akron/Tire Review) According to the Motor and Equipment Manufacturers Association (MEMA), aluminium prices are increasing dramatically and will be nearly double those of 2002 by the end of this year if 2005 price growth repeats. Based on annual averages, mean daily price volatility has increased from 2.31 per cent in 2002 to 6.93 per cent in 2005.

27th March 2006/by Tyrepress Editors

Outlaw ‘Rounds-Up’ Second Wheel Buyers

Outlaw Wheels are hitting the trail this spring, with two new designs joining the brand’s 10-wheel line-up. Drawing heavily on Western imagery with a high-octane, scarlet-clad cowgirl fronting the ad and merchandising campaign, Outlaw is aiming to be one of the most sought-after wheel brands of 2006.

27th March 2006/by Tyrepress Editors