Dealers are reporting a rise in the number of consumers asking them for CO2 information as part of the used car buying process, according to the latest survey from vehicle information expert, HPI. However, HPI's new research confirms that cost is the driver behind consumer interest in CO2 data and savvy dealers, who are meeting the needs of their customers by providing this information, are securing more deals.
Almost precisely seven years after Edouard Michelin’s fatal accident, his father and legendary head of the Michelin-clan, François Michelin (87), has granted French weekly magazine Paris Match a rare interview and divulged a glimpse into his emotional life. François Michelin, whose daughter-in-law, Edouard’s wife, Cecilia died of cancer in 2011, today lives in retirement home in Auvergne, free from every luxury.
Approximately 40 Nokian Tyres plc staff members – people identified as “key” employees – will benefit from an incentive programme approved by the company’s Board of Directors. According to Nokian, the aim of the programme is to combine shareholder and key employee objectives in order to “increase the value of the company, to commit the key employees to the company, and to offer them a competitive reward plan based on earning the company’s shares.”
Ninety-one per cent of motorists do not trust the government to reinvest money made from tolls on new roads, according to a survey of more than 2,500 motorists, conducted by the Institute of Advanced Motorists (IAM).
Sixty per cent of motorists do not support toll roads, and seventy-nine per cent of motorists would not support the introduction of tolls on existing roads.
The Freight Transport Association (FTA) continues to hammer home the message to the Chancellor that he should reduce road fuel duty by 3 pence per litre to help ease the pressure on domestic freight operators in his 2013 Budget.
When Michelin reported full-year 2012 free cash flow of 1.075 billion euros, financial analysts responded by describing the results as “a strong beat” compared with consensus expectations. However, questions about profitability (and the company’s continued momentum in this respect) remain a subject of discussion amongst the market watchers.
Pirelli & C. SpA has reported sales revenues of 4,574.1 million euros in the first nine months of 2012, up 7.2 per cent from 4,265.8 million on 30 September 2011. Pre-tax profits (EBIT) are up 31 per cent to 592.8 million euros (compared with 451.2 million euros on 30 September 2011). During the same period EBIT margin grew to 13 per cent from 10.6 per cent on 30 September 2011. However the company also revised down a number of key projections.
The latest Pirelli UK report filed with Companies House shows a slight drop in pre-tax profit in 2011 despite sales jumping almost £40 million year-on-year to £329.7 million. Profit decreased from £12.2 million to £12 million during the year. The company singled out its original equipment segment activities as a strength during the year, noting that Pirelli UK continued to secure new contracts with prestigious vehicle manufacturers.
While work on Kumho Tire’s greenfield project in the US is still on hold, the long wait to restart may soon be over. Georgia-based television station 13WMAZ reports Macon-Bibb County Industrial Authority chairman Clifford Whitby as saying “we are getting very close to be able an announce a date when Kumho will be able to start construction.”
Russian tyre maker Cordiant, formerly Sibur-Russian Tyres, confirmed in late July plans to invest US$400 million in its Western Siberia tyre plants. This announcement was made following a plant visit undertaken by Omsk region governor Viktor Nazarov on 27 July.
Continental AG may have delivered 948 million euros of adjusted pre-tax profits (EBIT) in the second quarter of 2012, compared with consensus expectations of 865 million euros, but the biggest surprise for analysts was said to have been the group margin figure. At 11.5 per cent this was nearly a percentage point (and therefore on the way to 10 per cent) higher than 10.6 per cent that was expected.
Delticom issue a profit warning (19 July 2012) after revenues and pre-tax profits (EBIT) came in below expectations. As a result the company reduced its full-year growth target from +10 per cent to +5 per cent year-on-year and stated that an EBIT margin above 9 per cent (compared with 6.9 per cent in the first half of 2012 and 9.4 per cent in the first half of 2011) is only attainable in the event of a good winter tyre season prompted by wintery weather.
Dutch enterprises involved in international trade and commerce have the option of applying for Authorised Economic Operator (AEO) status with the Netherlands customs agency. The advantages of AEO status include being subjected to fewer physical inspections and document checks, priority treatment of consignments if selected for control – benefits that save time. AEO certificate companies are also viewed as reliable business partners.
The RMI Petrol Retailers Association (PRA), which represents independent forecourt across the UK, positively welcomes the Government's decision to not go ahead with the 3 pence-per-litre (ppl) fuel duty increase in August.
Brian Madderson, PRA Chairman commented “PRA has lobbied against the planned August increase since its announcement in Autumn 2011. PRA believe that fuel tax unfairly penalises low income earners, single families and rural communities that often have poor public transport alternatives. There is evidence that driving habits are changing as consumers struggle to balance their household budgets.
According to OJSC Cordiant director Dmitry Sokov, management at the tyre maker, which formerly operated under the name Sibur-Russian Tyres, has proposed its shareholders invest some US$400 million in the development of tyre production at the company’s Omskshina factory in Russia’s Omsk region. This plan involves several investment projects, including new production facilities for giant tyres and passenger car tyres.
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