News articles on the tyre retail business
Continued branch attrition at some of Britain’s largest tyre retail chains means the line between the top five and the rest of the top 10 has continued to blur. Furthermore, we now have three 50+ branch retail chains outside the top four (which are all 100+) for the first time since Tyres & Accessories started tracking this data five years ago.
Crewe-based online tyre retailer Tyres On The Drive has enlisted outdoor advertising specialist Out Of Home International to help promote its services with a series of billboard advertising. Starting yesterday, six sheet adverts have been strategically placed at forecourts across Yorkshire and the North West. The two-week campaign was launched to inform motorists of the company’s tyre purchasing and fitting facilities and highlights the convenience and cost savings of mobile tyre fitting compared with the traditional garage experience. The billboards promise prices “up to 40 per cent cheaper than the high street,” and a service that fits around home and work schedules.
Germany’s Reiff Group, whose business portfolio includes tyre and wheel wholesale and retail activities, has reported that “two negative influences” affected its business in 2013: A one-off effect of €4.9 million and a drop in margins in its tyre business. Group turnover fell 3.6 per cent year-on-year to €509 million, with €358 million coming from its tyre and auto business. The company reported a net loss of €8.7 million; in 2012, it achieved a net profit of €0.6 million.
British Touring Car Championship Rob Austin has signed up as HiQ’s official series blogger, and in this first write-up for the season he shares on what’s gone down since the end of the 2013 season. When the BTCC action gets under way for this year, Austin will blog on the Monday after each race. The blog can be read on the hiqonline.co.uk website.
A brand new range of ‘vintage’ t-shirts and sweatshirts with Goodyear branding has gone on sale at Pull&Bear retail outlets worldwide and online, as part of the Goodyear Vintage fashion programme. As part of a deal brokered between IMG Licensing and the Goodyear Company, the clothing will be sold at Pull&Bear stores in 62 countries around the world and on their e-commerce website alongside the existing local Goodyear range of clothing.
Giti Tire has appointed Angelo Giannangeli it new marketing director Europe for the PCR and light truck segment. In this role, Giannangeli will be responsible for marketing initiatives and e-commerce for GT Radial, Primewell and Runway brand passenger car and light commercial vehicle tyres in Europe; the company aims to achieve a PCR segment market share of between five and ten per cent in key markets.
For Pirelli, Russia is “still a developing market”, and as we found out a week or so after Tyres & Accessories interviewed global marketing vice-president Matteo Battaini at the recent Geneva Motor Show, Rosneft’s purchase of 13 per cent of Pirelli’s shares means Russia is also still a developing part of Pirelli’s ongoing business strategy.
Top-ranking Goodyear executive Darren Wells was parachuted into the leadership of Goodyear Dunlop Europe Middle East and Africa EMEA in October 2013. Having come from the position of Goodyear global CFO, the move was pitched as something of a reshuffle of the company’s global leadership. Set against the backdrop of the recent Geneva motorshow, Tyres & Accessories talked profitability, strategy and efficiency with the newly installed president.
Gaining a foothold in a new market or securing the best deal on stock is easier said than done. It’s difficult for wholesalers, manufacturers or dealers to be experts in every aspect of the tyre business, and this means that companies often miss out on opportunities simply because they don’t know about them. In such instances you can either accept this limitation – or you can look for someone who can help. This year a new Netherlands-based company, Vimexa Automotive BV, entered the business of helping companies within the tyre, wheel and battery industries find what they want or need. Other automotive products, such as TPMS – a product of growing significance in Europe – may also be introduced into the portfolio. Tyres & Accessories recently met with company founder Rutger Veerman to discover more.
Newly-published third quarter results show a Stamford Tyres experienced slight decline in turnover and a marked year-on-year drop in profits during the period. In the three months ending 31 January 2014, the Singapore-based company’s revenues decreased 2.94 per cent in the quarter to S$71.7 million (£34.0 million). Gross profit was down 2.35 per cent to $16.6 million (£7.9 million). Net profit fell 62.66 per cent to S$838,000 (£397,560).
The Renault Retail Group has extended its online aftersales service, mandating online tyre purchasing across its 19 outlets. The national network’s implementation of online tyre retail facilities, including fitment appointment bookings, shows the growing importance of digital sales within the automotive retail sector. Renault Retail calls the move part of “an ongoing strategy to improve customer experience through the digital interface.”
Tyre and vehicle service provider ATS Euromaster says that an increasing number of UK holidaymakers choosing to stay in the British Isles means that the demand for caravan and motorhome maintenance and services has risen. This rise has also led to an upward trend in one of ATS-E’s supplementary product lines.
ATD has announced it will pay $345 million, with the possibility of another $20 million depending on certain provisions, in a deal to acquire Terry’s Tire Town, US publication Tire Review reports. The deal comes fewer than three weeks after closing a deal to buy Hercules Tire & Rubber Co. The deal gives ATD 11 […]
The Hankook Masters Programme was launched in the UK at the end of 2012 and enjoys ongoing growth. To facilitate the scheme’s continued expansion, Hankook Tyre UK has appointed Nick Maltby its franchise development manager. Maltby brings over 30 years of tyre trade experience, gained through senior positions at large independent retailers, into his new role. He joins existing franchise manager Ben Francis in the development of the Hankook Masters Programme.
Recent tax reassessments have given the Nokian Tyres Group a negative bottom line in the fourth quarter of 2013. The Finnish tyre maker’s pre-tax profit of €57.7 million (already down 44.6 per cent year-on-year) was dragged down to €-36.4 million by the additional €100.3 million in taxes and interest that Finland’s Tax Administration requires Nokian to pay for the 2007 to 2010 financial years.
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