1. Articles in category: Industry Statistics

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    1. Michelin Remains the World’s Most Valuable and Strongest Tire Brand

      Michelin remains the world’s most valuable and strongest tire brand with a brand value of US$7.1 billion and a BSI score of 86.2 out of 100. Michelin is by far the strongest brand in the tire segment with an advantage of 9 BSI points over the second strongest brand in the industry, Bridgestone (up 1% to US$7.0 billion). Michelin is the thought leader in the industry, its product diversification into punctureless tires with its Uptis prototype and association with premium events and excellent performance, have helped the brand maintain its strength and status

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    2. Australian tire recycler plans to expand into the European market

      Australian tire recycler Green Distillation Technologies, developer of the world-first technology that turns end of life tyres (ELTs) into high value, refinery-ready oil, carbon and steel, believes it can now expand into the European Market.

      GDT Chief Operating Officer Trevor Bayley said that the recent statement by Faziler Cinaraip at the webinar organized by the Bureau of International Recycling (BIR) who said that only 42 percent of the 12 million tonnes of ELTs generated in Europe each year are recycled, had heightened their interest.

      “We are working hard to bring our first two Australian processing facilities in Warren in Western ...

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    3. Coronavirus tanks U.S. auto sales in the second quarter for GM, FCA

      U.S. vehicle sales in the second quarter for General Motors, Toyota Motor and Fiat Chrysler plunged by more than 30% as the coronavirus caused consumers to stay at home, and dealerships and factories to shutter. The hefty declines are in-line with what Wall Street expected. Hyundai Motor and Porsche also reported significant drops in sales between April and June compared to a year earlier. The automakers were among the first to report second-quarter sales on Wednesday.

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      Mentions: report retail sales
    4. Feds are investigating cheap import tire pricing

      WASHINGTON — The U.S. Commerce Department said on Tuesday it had opened investigations into vehicle tire imports from South Korea, Taiwan, Thailand and Vietnam to determine whether the are being sold at less than fair value. The department said it was also investigating whether tire producers in Vietnam were receiving unfair subsidies for passenger vehicle and light truck (PVLT) The investigations were in response to petitions filed in May by the United Steelworkers (USW) representing workers at U.S. tire plants. "Even though demand for PVLT increased, domestic producers were still forced to grapple with reduced market share, falling profits ...

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    5. Survey: When and how should your business internationalize?

      When and how should your business internationalize?

      This question has been explored around the world by research scholars for decades. An opportunity to explore this question and share in new findings is offered through a study by Mark Stoiko, a professor in the Faculty of Business, Humber College, invites industry to participate in research on how and when to internationalize a manufacturing enterprise. Participation is simple and easy.

      The research follows the highest ethical standards set by the Canadian Tri-Council Policy Statement: Ethical Conduct for Research Involving Human Subjects, 2nd edition (TCPS2).

      Eligible survey respondents are managers in Canadian manufacturing companies who sell at least some of their products internationally. The web-based survey contains questions that should take approximately 10 minutes to complete. Survey participants who choose to leave contact information will receive a table of aggregate results of the findings. The letter of information and survey for this study ...

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    6. Total U.S. Aftermarket Forecast to Decline 8.8% But Expected to Rebound in 2021

      RESEARCH TRIANGLE PARK, N.C. and Bethesda, Md. – June 5, 2020 – Total U.S. automotive aftermarket sales are forecast to decrease 8.8 percent in 2020 as a result of the impact of the COVID-19 pandemic and related factors, according to the “2020 Joint Channel Forecast Model” produced jointly by the Auto Care Association and the Automotive Aftermarket Suppliers Association (AASA). The 2020 Joint Channel Forecast Model also predicts that total light duty aftermarket sales will grow from $281 billion in 2020 to $314 billion in 2021.

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    7. Carmakers must overhaul production plans to hit climate goals: report - Reuters

      LONDON (Reuters) - The world’s 14 biggest carmakers are on course to miss globally agreed climate targets, a leading sustainable finance think tank said on Wednesday, urging investors to do more to pressure boards to change their production plans. The report by the 2° Investing Initiative and the Institutional Investors Group on Climate Change looked at the firms’ plans for electric vehicles, hybrid and internal combustion engine (ICE) vehicles and modelled vehicle emissions and climate scenarios from the International Energy Agency. None of the companies’ current plans were fully aligned with the Paris Agreement on climate change, which aims to ...

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    8. Travel on U.S. roads fell by 40% in April amid stay-at-home orders - Reuters

      WASHINGTON, June 8 (Reuters) - Travel on U.S. roads fell by 39.8% in April as coronavirus stay-at-home orders prompted tens of millions of Americans to work from home and others to avoid travel as destinations temporarily closed. The U.S. Transportation Department said U.S. motorists drove 112 billion fewer miles compared with April 2019 to 169.6 billion vehicle miles. In the first four months of 2020, motorists drove fewer miles than in the period in any year since 2001.

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    9. Toyoda Gosei Sets Target of Cutting CO2 Emissions More Than 40% by 2030

      Kiyosu, Japan, April 3, 2020: Toyoda Gosei Co., Ltd. has announced an environmental target for 2030 with the aim of stimulating efforts to cut CO2 emissions in its business activities.

      In 2015 Toyoda Gosei adopted the TG 2020 Environmental Challenge, which lays out the company’s long term environmental targets. They include the aim of cutting the company’s CO2 emissions to approximately zero by 2050 to contribute to the fight against global warming. As a milestone on the road toward achieving that goal, the company has set a concrete target of achieving a 43% reduction in CO2 emissions by 2030 compared to 2015 levels. Phased measures are being taken in two areas. One is to reduce energy consumption by eliminating energy loss at plants; innovating production technologies, such as by downsizing machines; and introducing energy-saving equipment. The other is to increase use of solar power and ...

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    10. TRAC Postpones 2020 Events: Rubber Recycling Symposium and 100th Members Meeting

      In the wake of the current COVID-19 outbreak, the Tire and Rubber Association of Canada (TRAC) leadership decided to postpone their 100th Members Meeting & Gala as well as the Rubber Recycling Symposium to 2021.

      The tire industry offers a beacon of light for other industrial sectors as they strive for a circular economy, rooted in making the most efficient use of resources—over and over again. The Symposium will embark on finding new and better ways to develop and nurture a circular economy.

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    11. Yokohama Posts 90.4% Operating Profit Loss in Q1

      The Yokohama Rubber Co., Ltd. posted a 90.4% decline in operating profit (1.2 billion yen, or about $11 million; down from 2019’s 12.878 billion yen, or about $120 million) in the first quarter of 2020.

      The company also posted a 258 million yen (about $2.4 million) loss in Q1, compared with 9.1 billion yen (about $85 million) in profit in the same period of the previous year.

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    12. Bridgestone phases shutdowns in Japan

      Bridgestone is temporarily shutting plants in Japan due to a decline in demand.

      The plants that are being shut down cover tire production for cars, aircraft, motorcycles, trucks and buses.

      In Fukuoka, the Kurume plant will shut its aircraft tire plant from May 27-June 1, June 3-4 and June 6-7, and the section producing tires for passenger cars will be shut from May 28 -June 1.

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    13. Pirelli: likely increase in car usage as motorists continue distancing

      With coronavirus lockdowns lifting around the world, heightened vigilance in social interactions is likely to continue for some time. One effect of this could be an increased use of private cars, as commuters eschew public transport options to limit their contact with other people. The economic reality of this suggests that those in the financial position to drive are even more likely to do so. And in turn these motorists are more likely to drive cars that require the fitment of larger tyres.

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      Mentions: Pirelli
    14. Conti ‘intensively’ monitoring European tyre demand and production, but R&D budgets intact

      Following Continental’s first quarter 2020 financial results and reports that the company is preparing to cut its R&D budgets and European tyre production, Tyres & Accessories asked executives at the company’s Hanover, Germany headquarters to comment on the proposals.

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    15. Hankook Tire Data Reveals Driving Attitudes During Pandemic

      New research from Hankook Tire reveals that as COVID-19 has kept many Americans home, three-in-four (76%) say they miss being behind the wheel.

      The survey also found that there is a desire to spend more time on the road, as 60% of Americans say they want to take more trips by car as a result of the pandemic.

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    16. AirBoss Announces 1st Quarter 2020 Results and Dividend

      AirBoss Announces 1st Quarter 2020 Results and Dividend

      Dividend The Board of Directors of AirBoss of America Corp. (the “Company”) has approved a quarterly dividend of C$0.07 per common share, to be paid on July 15, 2020 to shareholders of record at June 30, 2020. Consolidated Results Consolidated net sales in the first quarter of 2020 increased by 14.1% to $94,197 compared with the first quarter of 2019, due largely to the completion of the merger between the AirBoss defense business and Critical Solutions, Inc. (“CSI”) on January 1, 2020 (the “ADG transaction” or “AirBoss Defense Group transaction”). This increase was partially offset by ...

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