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NETA Launches Online Service

North Eastern Tyre and Autocare (NETA) says its customers can save time and money by taking advantage of its new online service. Purchasing tyres and booking a fitting appointment at a NETA branch through the www.nete.co.uk website is as easy as purchasing a book or downloading music from an online retailer, the North East and Yorkshire based company notes, and the online system comes complete with built in updates that gives customers a reminder about when service or other work is due.

13th July 2010/by Tyrepress Editors

Ipswich Tyre Group Expands

Ipswich Tyre Group is expanding with the opening of Premier Body Works in Bury St Edmunds, bringing the total number of depots within its group to six. The new site will continue to focus on its vehicle repair business, and Ipswich Tyre Group will introduce Cameo from Cam Systems after working effectively with the industry-specific software platform in its other centres.

12th July 2010/by Tyrepress Editors

Gripen UK’s First Half 2010 Sales Equal Full Year 2009 Total

Fresh from exhibiting at the Hillhead show in Buxton in June, Gripen Wheels UK director Ray Coulson has reported that the company’s rapid growth is continuing in 2010 despite the fallout of the recent recessionary period. According to Coulson, sales for the first six months of 2010 grew fast enough to equal the full year sales total the firm accrued in 2009. While your first instinct might be to suggest that such growth must have come from a low base in preceding years, when you consider that the firm has been operating in the UK for less than three years and that the whole tyre business has faced significant challenges during this period, it would be churlish not to take notice of the rate of the company’s expansion.

Asked what’s behind the recent impressive growth at Gripen, Coulson explained in a recent interview with Tyres & Accessories that increased take up of new accounts and improved product mix were at the root of the strong sales performance. Prior to 2010, Gripen UK’s was largely reliant on sales of imported budget brands in relatively small (as far as OTR products go) sizes. This year has seen the company source and deliver a complete collection of premium brand products and adjust its offering to include the larger (and more valuable) sizes of OTR product in addition to the budget and smaller sized tyres it has always sold. Together these two factors mean that, before the seventh month of 2010 is concluded, sales are already ahead of the company’s full-year 2009 result.

6th July 2010/by Tyrepress Editors

Uniroyal US Tiger Paw Range Extended

In North America the Uniroyal brand belongs to the Michelin product portfolio, and a new high performance tyre released in this market is the Uniroyal Tiger Paw GTZ All Season, which will be launched on July 1. According to Michelin North America, the tyre is engineered to meet the ultra-high performance needs of drivers of sports cars in a range of weather conditions.

18th June 2010/by Tyrepress Editors

Analysts Raise Conti Earnings Estimate 20%

Analysts at Deutsche Bank has upgraded Continental AG’s stock rating to “buy” after raising its earnings per share (EPS) estimates by more than 20 per cent for 2010 and 2011. According to the analysts the revision is entirely attributable to better volumes: “With car production in the second quarter close to the first quarter, our new second quarter adjusted EBIT estimate is 540 million (versus 400 million euros previously) and our full year adjusted EBIT is upgraded by 13 per cent to 1.87 billion euros (consensus: 1.75 billion).” Writing in an investor’s note published on 11 June, the analysts explained that this corresponds to an EBIT margin of 8.1 per cent and to an adjusted EPS of 3.9 euros, 8 per cent above consensus.

11th June 2010/by Tyrepress Editors

Halfords Sales Reach £831.6 million Supported by Nationwide Acquisition

Company News, News, UK News

Halfords Group Plc has reported preliminary full year 2010 results (April to April) showing sales of £831.6 million, up 4.6 per cent on 2009 and up 0.7 per cent like-for-like. The company’s gross margin grew to 54.4 per cent, while operating profit shot up 17.5 per cent to £119.7 million, representing 14.4 per cent of sales (2009: 12.8%).

The acquisition and “successful integration of Nationwide Autocentres” – four of the network’s branches are already said to have converted their livery – were clearly important parts of the company’s strong results. David Wild, Chief Executive, commented: “Halfords has had an excellent year…Sales growth in core areas, margin expansion and disciplined cost control has led to the delivery of 25 per cent earnings growth…In addition we made our first acquisition, Nationwide Autocentres, which represents a natural extension of Halfords service proposition in the car aftermarket and is already making a good contribution to the Group.”

10th June 2010/by Chris

Hankook Offers US Consumers Tyre Safety Tips

In coordination with National Tire Safety Week, Hankook Tire America Corp. is offering tips and advice to ensure consumers’ tyres are in good working condition for summer travel, reports Tire Review. “Not maintaining proper tyre inflation pressure costs consumers hundreds of dollars during their driving lifetime,” said Bill Bainbridge, director of brand communications for Hankook Tire America Corp. “Even slightly underinflated tyres require more energy and build up damaging heat more quickly. This leads to reduced fuel economy and paying more for gas than you need.”

9th June 2010/by Tyrepress Editors

Amazon.com Launches Online Wheel Store

Amazon.com customers can now choose from a catalogue of over 10,000 wheels after the online retailer, originally known for taking the lead in web-based book and CD sales, announced the launch of its Wheels Store (www.amazon.com/wheels). The site also offers a range of roughly 12,500 mainly motorbike and car tyres.

According the company, the store showcases a vast selection from top brands like American Racing, Dip, Dale Earnhardt Jr., KMC, Mickey Thompson, Sacchi, Konig and Veloche. As in the Amazon.com Automotive Store, customers looking for wheels will discover the Automotive Part Finder, a powerful search tool that helps customers quickly find the wheels guaranteed to fit their specific year, make and model.

3rd June 2010/by Tyrepress Editors

Kwik-Fit For Sale for £250 million?

Kwik-Fit, the UK’s leading tyre retailer, has reportedly been put up for auction by its owners PAI Partners. PAI, a French private equity group, bought Kwik-Fit from CVC Capital Partners for roughly £800 million in 2005 after seeing off competing bids from suitors including global tyremaker Bridgestone. Newspaper reports from sources including The Guardian and The Scotsman published on the 30 and 31 May respectively suggest that Kwik-Fit has once again attracted the attention of private equity groups including Blackstone, KKR and Permira. However both reports also speculate about the likelihood of Bridgestone’s involvement in bidding for Kwik-Fit’s latest change of ownership. A source close to Kwik-Fit’s owners told Tyres & Accessories that the press reports were inaccurate and “there is no formal sale process,” but confirmed that there is a formal sale process for the firm’s insurance arm.

1st June 2010/by Tyrepress Editors

Ruia Named a Contender for SsangYong Purchase

Pawan Kumar Ruia, owner of Dunlop India and Falcon Tyres, is said to be one of the bidders for SsanYong Motor. The South Korean vehicle manufacturer, which has been in court-led restructuring since early last year, was announced for sale this week. Bidders have until May 28 to submit a letter of intent. Sources reported by Calcutta, India based newspaper The Telegraph say Ruia is prepared to pay up to US$500 million for the company.

21st May 2010/by Tyrepress Editors

VW to Buy Italdesign Giugiaro?

Volkswagen AG is reported to have opened its corporate wallet and intends to purchase Italy’s Italdesign Giugiaro SpA, the company responsible for designing much of the current Vredestein tyre range. The German vehicle manufacturer’s interest in Italdesign Giugiaro is said to be connected with its desire to become the world’s largest vehicle manufacturer by 2018, an accomplishment that would benefit very much indeed from the Italian designer’s staff and facilities.

20th May 2010/by Tyrepress Editors

Bridgestone Invests £400,000 in UK Retreading

Bridgestone UK has invested £400,000 in a twin head Alpha builder. According to the company, the purchase has been made following Bridgestone’s “rapid growth” within the UK retread market. Terry Salter, retread development manager, commented: “This is a part of a long term investment strategy designed to enhance capacity and quality.”

6th May 2010/by Tyrepress Editors

Exmouth Entrepreneur Opens HiQ Centre

An Exmouth entrepreneur opened a new HiQ centre on 1 May, saying that “Having the backing of HiQ’s national brand is like working with a big brother. The network helps to open doors that you could never open as an independent retailer”. Martin Price, along with business partner Mike Pickering, has become a franchisee with the HiQ network and will now operate a centre in St Andrew’s Road. Price has 17 years experience in the tyre trade. He was recommended to the network by local franchisees Gary Thomson and Justin Roberton, who used to be Price’s area managers when he was a centre manager at HiQ Honiton six years ago. HiQ has stated that it intends to expand its network to 185 sites by the end of the year.

6th May 2010/by Tyrepress Editors

Michelin North America Ups Prices

Come June 1, North American customers wishing to purchase Michelin company tyres will require pockets that are up to six per cent deeper. The tyre maker has announced price increases for Michelin, BFGoodrich, Uniroyal, private and associate brand passenger car and light truck replacement market tyres sold in the United States. Prices for replacement market motorcycle tyres will also increase by up to six per cent in the US, Canada and Mexico markets.

30th April 2010/by Tyrepress Editors

Titan Releases Second-Gen 007 MFT Mining Tyre

Titan Tire Corporation has introduced the second generation of its 007 MFT mining tyre product line. This new product, says the US manufacturer, offers enhanced durability, a more ‘aggressive’ tread pattern, improved heat dissipation and the ability to carry a larger payload. Sizes currently offered in the range include 59/80R63, 53/80R63, 40.00R57 and 27.00R49.

20th April 2010/by Tyrepress Editors