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Halfords Autocentres prop up group sales growth, amidst under pressure tyre demand

Halfords Group has reported first-half 2025 sales of £864.8 million, down 1.0 per cent compared with the same period in 2024. For its part, Halfords Autocentres reported sales of £348.7 million, down 2.3 per cent compared with £356.9 million in the first half of 2024. Meanwhile, the large-scale tyre retailer also shared details of its plans for the transition of some its acquired retail businesses into Fusion centres.

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Related news:

  1. Halfords Autocentres revenue up 70% year-on-year; 14.3% like-for-like
  2. McConechy’s Tyre Service Ltd sold to Halfords for £8.5 million
  3. Halfords buys National Tyres and Autocare in £62 million deal
  4. Recruitment roadblock reduces Halfords profitability, but tyres continue to drive growth
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Indian tyremakers expected to achieve 7-8% sales growth

Tyre manufacturers are likely to see revenue growth of between 7 and 8 per cent this financial year, according to Crisil Rating data. The sales growth has reportedly been driven by a 3 to 4 per cent increase in both “realisations and volume”. Revenue will grow at “a single digit for the second straight year (albeit nearly double that of last fiscal)”, according to the analysts, who added that the results come in the context of growth “at a compound annual growth rate of 21 per cent between fiscals 2021 and 2023”.

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Related news:

  1. Quarter Figures Reveal Mixed Results for Indian Manufacturers
  2. India’s tyre sector heavily affected by import duty structure – survey
  3. European operations lead the way as Apollo Tyres reports 16% increase in profitability
  4. Ceat: Higher input costs squeezing margins
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Goodyear reports net loss of $34 million in third-quarter of 2024, EMEA recovering

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The Goodyear Tire & Rubber Company has reported third quarter 2024 sales of $4.824 billion, down 6.2 per cent year-on-year, resulting in a net loss of $34 million compared with a net loss of $89 million a year ago.

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Related news:

  1. Goodyear to cut 5% of salaried staff globally, $80 million 4Q loss expected in EMEA
  2. Integration on-track: Goodyear reports 16% growth plus greater synergies from Cooper Tire acquisition
  3. Europe to bear 40% of Goodyear’s global job cuts
  4. Goodyear reports losses of $104 million in Q4 2022, points the finger at Europe
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Triangle Tire’s Europe and Middle East sales grew rapidly in 2023

In 2023, Chinese tyre manufacturer Triangle’s achieved revenue of 10.42 billion yuan (about £1.13 billion; €1.33 billion) and net profit of about 1.4 billion yuan (about £150 million; €180 million). Revenue of 10.42 billion yuan means that Triangle has surpassed Double Coin in the ranking of Chinese tyre manufacturers in 2023 and comes in behind ZC Rubber, Sailun and Linglong.

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Related news:

  1. Triangle takes westward steps
  2. Chinese tyremakers encouraging European customers to claim back truck tyre tariff payments
  3. EC provisionally reduces Chinese truck tyre tariffs to €38.87 for most manufacturers
  4. Dirk Reurslag Appointed VMI Vice President Sales & Projects
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Thailand factory supports most of Linglong’s profits in 2023

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Linglong’s revenue in 2023 exceeded 20 billion yuan, and its net profit was close to 1.4 billion yuan. The tyre manufacturer produced 79.117 million tyres throughout the year, an increase of 20.4 per cent year-on-year. Among them, semi-steel tyres increased by 19.20 per cent, all-steel tyres increased by 30.79 per cent, and bias tyres decreased by 6.19 per cent.

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Related news:

  1. Linglong EV OE reaches more than 6 million in 2022
  2. Linglong to supply VW, Renault from Serbia plant
  3. Linglong Tire begins Serbia factory project
  4. Linglong adds Hubtrac OTR tyre range within ongoing strategic development plans
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Sailun’s revenue in 2023 was close to 26 billion yuan

In 2023, Sailun’s revenue reached 25.978 billion yuan (approximately £2.865 billion; €3.348 billion), a year-on-year increase of 18.61 per cent. In the past three years, Sailun’s revenue has achieved steady growth, from 17.998 billion yuan (approximately £1.985 billion; €2.319 billion) in 2021 to 21.902 billion yuan (approximately £2.415 billion; €2.822 billion) in 2022, and then last year’s 25.978 billion yuan. The annual growth is about 4 billion yuan.

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Related news:

  1. Chinese listed tyre companies release third-quarter results
  2. Sailun’s revenue exceeds 20 billion yuan, ranked #1 Chinese listed tyre firm
  3. Sailun: Record operating income in H1 2022
  4. Chinese tyre makers off-shoring in Southeast Asia
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Goodyear to cut 5% of salaried staff globally, $80 million 4Q loss expected in EMEA

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Goodyear

Goodyear Tire & Rubber Company is planning “rationalization and workforce reorganization” actions that would result in a 5 per cent reduction in salaried staff globally, or about 500 positions. According to executives, the move has been prompted by the “challenging industry environment and cost pressure driven by inflation.” However it is also attributed to weaker-than-expected fourth-quarter results:

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Related news:

  1. Integration on-track: Goodyear reports 16% growth plus greater synergies from Cooper Tire acquisition
  2. Price mix contributed more to Goodyear EMEA 3Q figures than Cooper Tire sales
  3. Cooper Tire joins the Goodyear team
  4. Goodyear reports 42% net sales increase in 2021, EMEA back in black
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Sumitomo Rubber Industries sales and profits down, but supported by tyre business

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Source: Sumitomo Rubber Industries

Sumitomo Rubber Industries, which is active in Europe with its Falken brand, has published third-quarter results which show that group-wide sales fell by 16.1 per cent in the first nine months of the current year, while at the same time earnings evaporated to only a third of the previous year’s figure.

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Related news:

  1. SRI breaks ground in Slovenia
  2. Sumitomo Rubber using AI to increase whole-life tyre performance
  3. Sumitomo Rubber Industries temporarily shuts South Africa tyre plant
  4. Pirelli reports 20% 1Q sales decline
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Toyo Tire net sales down 9.8% in Q1

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Toyo Q1 2020 financials Toyo

In the first quarter of 2020 Toyo Tire Corporation reported net sales of 82,094 million yen a decrease of 8,049 million yen (-9.8 per cent) compared with the first quarter of 2019. Its operating income for the quarter was 6,936 million compared to 10,174 million yen (-31.87%) in the first quarter of 2019.

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Related news:

  1. Toyo issues post-earthquake statement
  2. Toyo sells half its Bridgestone shares
  3. Conti Completes Bookbuilding of New Shares
  4. Toyo Tires’ tyre business improves in H1 2018, results muted by ‘dampner scandal’
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Growth in mature markets drives up Michelin’s H1 results

Michelin reports a year-on-year rise in its net sales, operating income and net income in the first half of 2015. Net sales rose 8.5 per cent to €10.5 billion in the six months to 30 June 2015. Operating income increased 8.9 per cent to €1.3 billion, while operating margin remained constant at 12.0 per cent. At €707 million, net income was up 13.3 per cent year-on-year.

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Related news:

  1. Michelin profits down, volumes stable – “more assertive” distribution planned for 2015
  2. Michelin delivers “strong business performance” in H1 2016
  3. Michelin reports 6% rise in net income for H1 2018
  4. Michelin sales up 9.3% in Q1 2019
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Pirelli Q1 results show European recovery, premium growth

Pirelli says its first quarter 2014 performance reflects the recovery in demand within Europe that was first witnessed in the final quarter of last year along with the good health of the premium segment, where the Italian tyre maker is focused. The company also points out the positive performance of its business in Russia, where revenues bucked market treads to increase 5.4 per cent (excluding exchange rate effects) and profitability stood at “high single digit levels.”

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Related news:

  1. Pirelli tops tyre sector in sustainability index for 7th year
  2. Pirelli reschedules 2013 results review meeting
  3. November European market volumes dent year to date curve
  4. Analysts ‘concerned’ about reduced Pirelli outlook
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Continental lifts 2014 EBIT outlook

After what it says was “a successful start to the new year,” Continental Corporation has raised its adjusted EBIT outlook. “For fiscal 2014 we intend to comfortably achieve an adjusted EBIT margin of 10.5 per cent instead of the originally advised 10.0 per cent,” announced Continental CEO Dr. Elmar Degenhart at last Friday’s Annual Shareholders’ Meeting.

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Related news:

  1. Continental: €44 billion in sales, 10.8% EBIT margin in 2017
  2. Continental discussing ‘need for action’ with employee representatives
  3. Continental withdraws outlook for ‘uncertain’ 2020
  4. Continental CEO Degenhart resigns
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Analysts: Michelin 1Q figures below consensus

Following the publication of Michelin’s first quarter 2014 revenues, which show a 2.4 per cent drop in group sales, market analysts have responded by pointing out that the 4.758 billion euro figure fell just short of the 4.765 billion euro average of expectations. Nevertheless Michelin has held to its 2014 objectives including increasing volumes 3 per cent; increasing operating income before non-recurring items; and achieving structural free cash flow of greater 500 million euros along with capital expenditure of 2 billion euros.

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Related news:

  1. Michelin FY2013 net profits down 28 per cent…
  2. Cooper Tire Counts Cost of Production Halt
  3. Analysts: Michelin H1 Results “Good”
  4. Nokian Confirms Lay-Offs
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ITMA tyre test partner Tread expands development capability

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ITMA technical partner, Tread Ltd, reports that it has invested in expanding the services available to members. The company’s permanent test fleet now includes a magazine standard VW Polo to sit alongside its existing VW Golf, meaning that test and development of all standard tyre sizes is even easier.

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Related news:

  1. Bridgestone Gets Adrenalin Pumping in Australian Tyre Test
  2. Bridgestone Named as Which? Best Buys
  3. Which? Presents Continental with Best Tyre Brand Accolade
  4. Kumho adds KL21 to its 4×4 range
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Nexen achieves “promising results” in 2014 J.D. Power OE tyre study

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In the recent J.D Power 2014 Original Equipment Tire Customer Satisfaction Study, Nexen Tire attained what the Korean tyre manufacturer described as “promising results” for the second consecutive year.

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Related news:

  1. Michelin Ranked Highest in Satisfaction Survey
  2. OK Tire Ranks Tops with J.D. Power
  3. Nexen fourth in JD Power OE tyre customer survey
  4. Nexen ranked fourth in JD Power survey
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