French magazine Sport-Auto recently organised a race for supercars at the Nardo circuit. The winner was the 715 horsepower Edonis, fitted with Michelin Pax System tyres, which clocked up a record speed for the circuit of 359.6 km/hr. The Pax tyre sizes were (front): 245-650 ZR 480 A and (rear): 355-670 ZR 500 A.
British motorists continued to flock to the car showrooms in May, when 208,669 new cars were registered. This marked the 20th consecutive month of growth in the car market and easily beat the previous record of 199,258 new registrations set in 1989.
At Cooper Tire’s AGM chairman, president and chief executive officer Thomas A. Dattilo emphasised the successful implementation of the Company’s strategic plan and post-acquisition restructuring. “Investors are recognising our accomplishments and our future opportunities and the improvement in our share price is beginning to reflect that,” he said. Shareholders reelected Edsel D. Dunford and Dennis J. Gormley to new three-year terms as members of the Board and elected John F. Fiedler to his first three-year term as a director. Following the Annual Meeting, the board of directors declared a quarterly cash dividend of 10.5 cents per share on common stock, payable June 28, 2002, to stockholders of record on June 3, 2002.
Auto industry consultants Autopolis have released their latest report on the global automobile industry. It predicts a decline this year, with vehicle sales falling in the three largest markets (North America, Europe and Japan). A global 5 per cent decline (2.6 million vehicles) is predicted this year and a further 2.5 per cent decline the year after. However, Autopolis predicts that the global car and truck market will return to year 2000 record levels (54.9 million vehicles) by 2005 and, by 2010, demand will exceed 61 million vehicles.
Federal Corporation, based in Taiwan, reported that, as a result of the success of its innovative quality ultra high performance tyre products coupled with the outstanding sales performance of its worldwide distribution network, the company grossed over $89,373,000 in 2001. This is an annual sales record for the company and a 13.26 percent increase on the year 2000.
In the last business year Continental Group sold more than 60 million car tyres in Europe (including eastern European countries). Around about two thirds were sold in the aftermarket, the rest as original equipment (oe). In oe, the Continental Brand was dominant, followed by only a small volume from the other company brands. In the aftermarket the leading Continental brand made about 15 million sales, the others followed in order, Uniroyal, Barum, Semperit and the regional brands Gislaved, Viking and Mabor. General must also be mentioned in the off road sector, not forgetting house and private brands, of which Continental sold some five million pieces Europe-wide.
At a time when vehicle markets in the US and Europe are set to fall sharply, the outlook for most of Asia is not too bad, says a report from industry strategists Autopolis. It predicts a downturn in the region for this year and next, but, as 2000 saw record car sales (excluding Japan), the drop should be manageable. This year, only China and Malaysia are forecast to see sales of vehicles rise. The Japanese market is predicted to fall this year by 4.3 per cent and 2.4 next. For Asia outside Japan, the figures are minus 5.5 per cent (2001) and minus 3.3 per cent (2002). 2003 should see an upturn both inside and outside Japan, says Autopolis.
Kwik-Fit GB has resumed its press advertising campaign, offering four tyres from 60 Pounds (two for 35 Pounds), excluding valve and balance. For certain H-rated sizes, four tyres are available for 100 Pounds. Over the Easter week, a record number of customers visited the group’s centres and 21 centres recorded their best-ever week for sales.
Unseasonable wet weather has boosted sales of Goodyear’s Aquatread 3 passenger car tyre in North America. Sales of the wet weather tyre have risen by 30%, setting record sales levels for the premium tyre brand. Some nine out of ten users said they would buy the tyre again, setting new records in customer loyalty achievements.
Directors of The Goodyear Tire & Rubber Company have declared a quarterly dividend of 30 cents a share. The dividend is payable September 17, to shareholders of record August 17. The payout represents an annual rate of $1.20 per share.
The German car industry will this year, for the fourth time, produce more than five million cars, announced the association of the car industry in Stuttgart. The losers in terms of car sales are expected to be the importers. For the year as a whole. it is estimated that there will be 3.33 million new car registrations in Germany – about 50,000 fewer than the previous year. Exports are expected to reach a new record.
Underlining the news from Goodyear, the US trade group the Rubber Manufacturers Association has cut its forecast of tyre shipments for 2001 from 316 million tyres to 303 million. Last year’s figure was a record 321 million tyres. July tyre shipments to car manufacturers were 5 per cent down on the same month last year, while commercial market shipments fell by 32 per cent. The RMA predicts shipments of 304.4 million tyres next year and 317 million in 2003.
Goodyear’s EMT (Extended Mobility Technology) tyres are the most popular run-flat tyres sold as original equipment. For next year, Goodyear is expecting new record sales of one million EMT tyres to car manufacturers.
Following the profits warning issued by Bridgestone, the company’s directors have taken a 30 per cent pay cut for four months and there will be no bonuses for senior executives. President Yoichiro Kaizaki said that there are no plans to reduce wages of workers in the USA, despite the fact that Firestone is expected to record a loss this year of US$ 500 million. Looking at the prospects for the Bridgestone group, Mr. Kaizaki predicted a net profit for 2001 of 48 billion Yen.
Sales of Winter Tyres for 2000 were in line with those for the previous year. Roughly 16 million winter tyres were supplied to dealers in Germany last season. 1999 was a record year with sales of 16.1 million winter tyres. However, the Continental Group has been successful in increasing its market share of that figure to around 33%.
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