A new Michelin-run website aims to help UK motorists make an informed decision when it comes to choosing a tyre dealer. As part of what the tyre maker calls a “drive to improve consumer power”, it has introduced the Tyre Dealer Reviews site, which allows motorists to leave reviews of tyre dealers and provide a rating of between one and five stars, depending on their experiences.
US-based company TBC Corporation, which calls itself the country’s largest marketer of tyres for the automotive replacement market, has acquired automotive service provider Midas for approximately US$310 million. The all-cash transaction will see Midas shares change hands for $11.50 each, a price that represents a 75 per cent premium over Midas’ closing price of $6.58 on 11 August 2011, when Midas announced it would conduct a strategic review process, and a 28 per cent premium over the closing share price as of 12 March 2012. The proposed transaction has been unanimously approved by both companies’ boards of directors. In addition, Midas chairman, president and CEO Alan Feldman has signed a tender and voting agreement in support of the offer.
When Pirelli releases its fourth quarter financials on Monday, the results are likely to be a barometer of what can be expected from the company in the rest of 2012. That’s the view of financial analysts from Morgan Stanley that published their view in an investors note dated 8 March.
Their prediction is that Pirelli will report figures on the positive side of being in line with expectations: “We believe Pirelli will deliver 139 million euros of reported EBIT, a touch higher than the street and Pirelli’s targets.
During a workshop organised by US body the National Highway Transportation Safety Administration on 3 February, the Tire Industry Association voiced its significant reservations towards the establishment of a tyre label in the US – because statistics show a key quality to be measured is unimportant for consumers.
Starting in 2013 Pirelli will supply World Superbike Series (WSBK) riders and teams with 17-inch racing tyres instead of the previously used 16.5-inch rubber. This decision prompted Tyres & Accessories to ask Pirelli racing director Georgio Barbier what led to this “important step”, as Pirelli itself describes it, and how it can benefit the average rider. Unsurprisingly, Barbier retained a professional silence regarding the costs involved in Pirelli’s role as Superbike tyre supplier and how this compares to its Formula 1 commitment. The same applies to questioning on whether the planned switch to 17-inch tyres in 2013 is a sign of Pirelli’s intention to seek a continuation of its WSBK tyre supply beyond 2015.
Wheel alignment equipment specialist, Pro-Align has made DCM Tyres in Shaftesbury its first ‘Alignment Centre of the Month’ winner for January 2012. The Hunter distributer says DCM has enjoyed a considerable month on month increase in turnover and profit generated from its HawkEye HD imaging aligner, installed five months ago when the Shaftesbury site opened. The retailer reports income of £4,000 from the machine in January alone.
In its recently released annual report for the 2010-11 financial year, MRF Tyres estimates the entire Indian tyre industry’s annual turnover as being Rs 300,000 million (£3.8 billion), with exports accounting for Rs 36,000 (£455.8 million) of this. MRF states that during the year to the end of September 2011 an estimated 119.2 million tyres were produced in India by 39 tyre companies; the ten largest of these produced 95 per cent of this these.
On 5 June 2012 Peer Steinbrück, former German federal minister of finance, will open the popular Reifen 2012 organised by Messe Essen. Once again Bundesverband Reifenhandel und Vulkaniseur-Handwerk e.V. (BRV, the German tyre dealers vulcanisers association) will be the show’s “ideal partner.” Both parties will thus emphasise the significance of Reifen. Show organisers Messe Essen have billed the 2012 event as “the number-one worldwide meeting place of the tyre sector.”
Trading Standards Officers from Nottinghamshire County Council report that they have visited a number of tyre dealers as part of a countywide operation during national Road Safety Week and that all tested part worn tyres were illegal for one reason or another. According to the officers, the move was prompted by an increase in the number of serious accidents involving cars with faulty tyres and in the numbers of drivers buying part worn tyres.
The Tire Industry Association (TIA) has reported the “huge success” of its Global Tire Expo, held in conjunction with the US-based SEMA trade show. According to the TIA, this year’s event attracted a record number of attendees and exhibitors, with more than 132,000 people attending the co-located exhibitions and 61,000 buyers in attendance. This, the association adds, signifies the value that the Global Tire Expo and SEMA have for the wholesaler and manufacturing community.
Hercules Tire Company of Canada Inc has announced its acquisition of wholesale distribution business Pneu Mondial Canada Inc, located just outside Montreal. The acquisition is Hercules’ first in Quebec and the company, a division of the Hercules Tire & Rubber Company, says it will allow it “to expand and better the service currently offered out of its five locations in Ontario, New Brunswick and British Columbia”. Pneu Mondial operates out of Saint Laurent, having been started in early 2007 by Jacques Gravel and Daniel Lamoureux to serve Quebec’s independent tyre dealers.
On 2 November Larry Brandt took over from Mike Berra as president of the Tire Industry Association. In his first speech after taking on the office, Brandt stated a central theme of his administration would be maintaining “continuity in TIA's direction and leadership” and emphasising the TIA's relevance in protecting and educating the US driving public and tyre dealers.
Portland-based independent tyre dealer group Tire Factory has announced record comparable-store sales growth through the third quarter of 2011, reports Tire Review. According to CEO John Kreidel, comparable-store (those stores that have been a member for at last one year) sales were up more than 15 per cent and member purchases were up some 37 per cent year-over-year through three quarters.
After more than 26 years serving the tyre breakdown business, ITDN staff continue to take pride in their reputation for reliability and service given to members and has announced the imminent launch of its “all new, completely revised live on-line system ‘ITDN Interactive’.”
ITDN operates a complete tyre breakdown network for the independent tyre dealer. Network representatives report that the network’s continuing goal is to ensure that members keep control of their own business, whilst benefiting from the back-up of a 600 plus strong team of independent dealers behind them.
AlloyGator, a patented alloy wheel protection system, has been launched with the aim of providing car owners with unrivalled protection against scuffs, scratches and other wheel damage. AlloyGator is an affordable solution in keeping alloy wheels looking better for longer for consumers and an opportunity to up-sell for tyre dealers.
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