Across the Atlantic they are called tires, while over here we use a “Y” and say tyres. This tag provides the latest tyre business news emanating from the United States of America (USA), whichever way you spell it.
Tesla has notified that close to 700,000 vehicles may have experienced an issue with their installed tyre pressure monitoring systems (TPMS). The issue affects Tesla Model 3 for the 2017 to 2025 model years, Model Y from 2020 to 2025, and Cybertruck vehicles manufactured in 2024.
Despite market conditions it refers to as “challenging,” Nokian Tyres claims to have “set production records” at its North American factory in 2024, and also expanded its product range and grew market presence within the region. Monthly production highs in October and November contributed towards the “best year ever” at the 2019-opened Dayton, Tennessee factory.
The U.S. Tire Manufacturers Association (USTMA) projects that total tyre shipments in the USA will reach 338.9 million units in 2024, an increase of 2.1 per cent compared with the 331.9 million units shipped last year and 1.8 per cent more than the 332.7 million units in 2019. This year’s shipments look set to surpass the previous record of 335.2 million units in 2021.
A new multi-year partnership with basketball team Atlanta Hawks will see Kumho Tire U.S.A. gain an in-arena and broadcast presence with its “local” team. The partnership begins this season and additionally covers social activities and community engagement events, including supporting charitable causes as well as opportunities to recognise and honour local citizens as honorary “captains” of the NBA team for an evening.
American Tire Distributors, Inc. (ATD) announced on 27 November that it has made a preliminary agreement to sell its assets to a buyer backed by some of its major lenders. Specifically, the company has entered into a ‘stalking horse’ asset purchase agreement (APA). The lenders supporting the buyer entity include investment groups and funds managed by companies like Guggenheim Partners, KKR, Monarch Alternative Capital, Sculptor Capital, and Silver Point Capital. In a statement announcing the transaction, ATD collectively refers to these lenders as the ‘Ad Hoc Lender Group’.
Researchers at the University of Delaware have developed a promising method to remove toxic particles from end-of-life tyres. A team from the University’s Center for Plastics Innovation and Department of Chemical and Biomolecular Engineering has devised a chemical extraction process to isolate 6PPD from used tyres. The results of this research appear in the publication Nature Chemical Engineering.
Following the news that Sumitomo Rubber USA is closing its Buffalo, New York state tyre factory, further details have emerged relating to the context of the closure. Arguably the most headline-grabbing news is the suggestion that the factory has been closed in order to move production “overseas” and therefore outside the USA, according to local news reports. Furthermore, prior to the closure, Sumitomo reportedly sought to sell the tyre plant. However, no buyers emerged, leaving closure as the only option.
The Tire Recycling Foundation (TRF) has appointed Anne Forristall Luke President of its Board of Directors. Forristall Luke, President and CEO of the US Tire Manufacturers Association (USTMA), will serve a one-year term.
AB Svenskt Konstsilke (SKS), the Swedish-based global leader in single-end cords for tyres, has announced the acquisition of the assets from Mehler EP’s 153,500-square-foot Martinsville plant in SC, USA. According to the company, the equipment will significantly enhance SKS’s production capacity at its facilities in Estonia, China, and Mexico, adding an additional 3,000 tons of single end cord capacity annually. The assets include multiple dipping lines, twisting machines, winders, and a fully equipped laboratory.
We have already reported how Donald Trump’s second term as US president is likely to result in wide-ranging import tariffs. The kind of 20 per cent general import tariffs and 60 per cent China-specific import tariffs are significant enough, but market analysts are highlighting the secondary impact of tariffs on shipping costs.
Yokohama Tire will complete the 2024 Porsche Endurance Challenge North America series in Austin, Texas when it fits its Advan A005 slicks exclusively to the grid. The one-make racing event takes place on 22-23 November at Circuit of The Americas (COTA), closing the four-race inaugural season with a six-hour finale following three 60-minute races. For this six-hour event, teams of two to three drivers compete for class wins in a Porsche 718 Cayman GT4 RS Clubsport or a 911 GT3 Cup (Type 992) race car. A coveted overall series championship is also at stake for the stacked field of drivers.
Anyline has announced a partnership with US tyre retailer Sun Auto Tire & Service, under which the company will integrate Anyline’s Tire Sidewall Scanner and Tire Tread Reader technology across its 480 domestic market retail locations. Anyline said the partnership would help elevate data-backed communication and strengthen customer relationships.
Sumitomo Rubber Industries, Ltd. (SRI) has announced its financial results for the nine months ending 30 September 2024, showcasing moderate revenue growth and a significant increase in business profit, despite ongoing challenges in the global economic landscape and sluggish tyre sales in key markets.
Zynga Inc. has partnered with Toyo Tires to bring a custom-built vehicle into the mobile drag racing game CSR2. Fans have been given the chance vote for their favourite custom car showcased at Toyo Tires’ Treadpass event during the SEMA Show in Las Vegas (5-9 November). The winning vehicle will then be implemented into CSR2 as a playable car in 2025.
The days of Falken and Dunlop tyre manufacture in North America are numbered. During a Board of Directors meeting held today, Sumitomo Rubber Industries, Ltd. (SRI) resolved to end production at the Tonawanda, New York-based plant operated by its Sumitomo Rubber USA, LLC (SRUSA) subsidiary, and to dissolve the subsidiary after “making the necessary preparations.” This decision affects up to 1,555 employees.
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