1. Articles in category: Industry Statistics

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    1. ETRMA Members’ Tyre Sales in Europe: A positive move in Q1-2021

      Brussels, 19 th April 2021 – Today the European Tyre and Rubber Manufacturers’ Association published its members’ replacement sales for the first quarter 2021. 

      In this first quarter 2021, we are assisting to a positive recovery, after the deep negative year 2020, strongly affected by the Covid-19 pandemic with several lockdowns all around Europe. 

      All the segments have registered a positive evolution compared to the first quarter 2020 and this is an encouraging factor. In this first quarter, the Truck segment is driving the growth with 18% increase, followed by the Moto and Scooter segment (17%), and the Consumer Tyres market (12%). The car-all seasons Tyres reached a 39% increase, followed by a 17% in the car winter tyres, where the summer tyres only recorded a 6% increase.

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    2. USTMA shares economic outlook analysis and impact trends

      WASHINGTON, D.C. (March 31, 2021) – As President Biden prepares to lay out a broad infrastructure vision for the nation, the U.S. Tire Manufacturers Association (USTMA) today released key findings from an economic outlook analysis to identify trends and strategic opportunities for the U.S. tire manufacturing industry over the next five years and relevant issues influencing transportation. The analysis, conducted in late 2020 by a top economist, provides insights into four focus areas—economic impact and recovery from the coronavirus pandemic, digital transformation, changing societal views on mobility and environmental stewardship.   

      “There is a natural connection between priorities of the tire manufacturing industry and revitalizing infrastructure. The safety and sustainability of the life cycle of our products depends on having safe bridges and roads to travel, and even exploring how recycled tires can help create longer-lasting roads,” said Anne Forristall Luke, president and CEO of USTMA. "And as ...

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      Mentions: USTMA
    3. Nexen Tire Achieves Incredible Milestone - ½ Billion Tires Manufactured With Zero Recalls

      DIAMOND BAR, Calif.Mar. 30, 2021 /PRNewswire/ -- Nexen Tire America, Inc., a worldwide leader in high-performance, passenger, SUV/light truck and winter tire technology, today announced since 2000, the company has manufactured more than 500 million tires without a single recall. Nexen Tire has implemented precision tire-manufacturing guidelines throughout its four tire manufacturing plants across the globe – two in the South Korean cities of  Yangsan and Changnyeong, one in Qingdao, China, and its newest plant in Zatech, Czech Republic -- ensuring all tires meet the company's strict global manufacturing standards. 

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    4. Michelin Named ‘World’s Most Valuable Tire Brand’

      Michelin has become the world’s most valuable tire brand following 30% brand value growth that generated $7.9 billion over the last year, according to the latest Brand Finance report.

      It overtook Bridgestone (down 6% to $7.0 billion), which slipped from first to second place in the annual Brand Finance Tyres 10 ranking.

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    5. Statistics Canada says manufacturing sales rose 3.1 per cent in January

      OTTAWA — Canadian manufacturing sales beat expectations as they rose 3.1 per cent to $56.2 billion in January to top their pre-pandemic mark set in February 2020 for the first time.

      Economists on average had expected an increase of 2.5 per cent for the month, according to financial data firm Refinitiv.

      The result was the latest economic data point to come in better than expected, pointing to strength in the economy to start the year.

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    6. TIA Opposes Proposed Minimum Wage Hike

      The Tire Industry Association (TIA) has signed onto a letter to legislators, voicing its opposition to the recently proposed minimum wage increase.

      Here’s the content of the letter, provided by TIA officials.

      “Dear Chair Murray, Chairman Scott, Ranking Member Burr, and Ranking Member Foxx:

      “On behalf of Main Street businesses across America, we write to strongly oppose the Raise the Wage Act of 2021. Small businesses, ravaged by the COVID-19 pandemic, are struggling to keep their doors open and keep employees on payroll. More than doubling the federal minimum wage presents a significant obstacle to ailing small businesses trying to survive the pandemic.

      “The Raise the Wage Act of 2021 would increase the federal minimum wage to $15 per hour over five years, allow for annual automatic increases without the consent of Congress, and eventually eliminate the tipped wage. When small employers are confronted with increased labor costs, they ...

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    7. USTMA Predicts 315.7 Million Tires Will Ship This Year

      The U.S. Tire Manufacturers Association (USTMA) projects that 315.7 million total tires will ship in the United States this year versus 303.2 million units during 2020 and 332.7 million units shipped during the previous year.

      Specifically, the USTMA expects that original equipment passenger tire shipments will increase by 10.7% in 2021 and that light truck tire shipments will grow 3.6% during the year.

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    8. Orion Engineered Carbons to Increase Acetylene Black Pricing

      HOUSTON--(BUSINESS WIRE)--Orion Engineered Carbons S.A. (NYSE: OEC), a worldwide supplier of specialty and high-performance carbon black, today announced that it will increase pricing for acetylene black.

      Following the acquisition of its acetylene black plant in France, the company adjusted the facility’s strategic focus, requiring new investments to better serve the growing market demand for acetylene black used in lithium-ion battery production. In addition to these strategic investments, the company has also been confronted with rising costs for packaging, transportation and environmental obligations.

      Against this backdrop Orion will raise its acetylene black prices by 20 percent globally on March 1st, 2021, or as contracts allow.

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    9. Trelleborg: Interim report and Year-end report 2020

      "Strong end to the year – toward a better 2021"

      “Like most companies in 2020, Trelleborg was impacted to a high degree by the ongoing pandemic. Priority was assigned to measures to protect our personnel, while we succeeded in offsetting the reduction in sales through a flexible cost base and structural improvements. Despite the circumstances, we were able to deliver a good result, with an improved operating margin and record-strong cash flow compared with 2019, for both the full year and the fourth quarter.

      Our employees at all levels of the Group have made the best of a difficult situation and we have adapted our operations and way of working in line with the new reality in an exemplary fashion. Our decentralized approach enabled rapid operational action throughout the organization.

      We closed 2020 with a strong quarter. Organic sales declined by 3 percent, meaning that demand continued to improve sequentially. We ...

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    10. Natural rubber prices are rising

      If you’ve read this column for any length of time, then you know I am obsessed with the fact that tires are agricultural products. Natural rubber is a key component in every tire, some more important than others. Without it, tires will not be able to perform at the same level. I’m not a chemist or an engineer, so my knowledge of rubber compounding is rudimentary at best, but I know enough to know that nothing is more effective than natural rubber for certain performance characteristics. According to the U.S. Tire Manufacturers Association (USTMA), natural rubber comprises 34% of a truck tire, which is the most of any raw material or component. Passenger and light truck tires are 19% natural rubber, so the price of tires can be linked to the price of rubber.

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    11. Yokohama expands tire mold production capacity

      Japanese tire manufacturer Yokohama Rubber’s domestic tire mold production subsidiary Yokohama Mold is to expand production capacity at its Thai production facilities (YMTC).

      The company states that the capacity expansion is aimed at strengthening the group’s supply chain in the ASEAN region. Construction of the new facilities began in January 2021, with completion planned for the end of this year.

       
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    12. Toyo Posts Sales, Income Losses for 2020

      Toyo Tire Corp. posted net sales and operating income losses during 2020. The company's sales declined 8.9% from 2019 levels and its operating income fell 5.5% versus the previous year.

      Specifically, Toyo's tire business unit experienced a decline of 7.9% in sales versus 2019 levels. (The company also has an automotive parts business unit, which suffered a decline in sales during 2020, as well.)

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    13. Michelin CFO sees two major changes post-Covid: More durable materials and electrification

      Yves Chapot, chief financial officer at Michelin, discusses the company's full-year 2020 results.

      Against the backdrop of a global pandemic, the Group reported sales of €20 billion, down 15%, and segment operating income of €1.9 billion, representing 9.2% of sales.

      Watch the Video at MSN Canada.

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    14. Yokohama Tire (Canada) Inc. Announces Price Increases

      Langley, BC (February 15, 2021) Yokohama Tire (Canada) Inc. has announced price increases for its commercial, OTR and consumer tires sold in Canada.  

      Prices will increase up to 5% with variances by segment and business channel. Commercial and OTR tire price increases will be effective March 1, 2021 with consumer tire price increases effective April 1, 2021.

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    15. Cabot (CBT) Surpasses Earnings and Revenue Estimates in Q1

      Cabot Corporation CBT recorded a profit of $60 million or $1.06 per share in the first quarter of fiscal 2021 (ended Dec 31, 2020) compared with a profit of $41 million or 70 cents per share in the year-ago quarter.

      Barring one-time items, adjusted earnings per share were $1.18 in the reported quarter, up from 69 cents in the year-ago quarter. The figure topped the Zacks Consensus Estimate of 87 cents.

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      Mentions: Cabot financial
    16. Hankook Tire Partners with Tableau Software for Next Generation Business Intelligence

      Global leading tire company Hankook Tire is further driving its digital transformation by partnering with the leading analytics platform, Tableau Software. Through this partnership, Hankook will be equipped with advanced data analytics and agile user interface platform for next generation business intelligence.

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    17. Nokian Tyres to Add 150 Jobs at Tennessee Factory

      DAYTON, TENN. (AP) — Nokian Tyres says it plans to add 150 jobs in the first half of this year at its Tennessee factory.

      The Finland-based company says that it is looking for workers at its Dayton facility in mixing, tire production, maintenance and logistics areas, and those interested in general factory overhead and quality control.

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    18. Hankook to Accelerate Development Time with Partnership

      Hankook is pursuing a digitalization of its office through Tableau’s data-driven analytics platform. Based on Tableau’s software platform, Hankook says it created a standard database processing algorithm that enabled the accumulation of globally-scattered data. As a result, the company says, analyzing and reporting tasks has been minimized.

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    19. Global OTR tire library announced it is extending its online shelves

      The Global OTR Library announced it is extending its online shelves and adding Wheels & Rims 18 months into its content.

      The OTR Library present 48 premium, tier 2, 3, and 4 tire brands recent technical data books on its web platform. They include the traditional market leaders Bridgestone, Goodyear and Michelin but also upcoming challengers such as BKT, Luan and Magna.

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    20. Global Automakers Releases 2020 Q4 Sales Numbers

      Following our transition into a new year, the Global Automakers of Canada (GAC) has released sales figures for its members in Q4 2020.

      Given the disruptions caused by the COVID-19 global pandemic during 2020, OEMs witnessed the shutting down of production facilities in Q1 and Q2, along with parts shortages, new inventory was significantly down during the course of the year.

      By the end of 2020, GAC member sales total 900,767 units—a 21.4% decline compared with 2019 which saw 1,146,587 units sold.

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    21. Female CMO is new norm

      A remarkable shift has been taking place in automaker executive ranks: Women now rule the U.S. marketing world.

      In 2018, Joy Falotico took on the chief marketing officer title at Ford Motor Co. The next year, Fiat Chrysler Automobiles tapped Marissa Hunter to fill a new role, head of North America marketing. Months later, Deborah Wahl at General Motors and Angela Zepeda at Hyundai were named CMOs.

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    22. US 2020 auto sales slide 15%, but recovery stronger than expected

      Pittsburgh — US new vehicle sales are forecast to have fallen about 15% year over year to 14.4 million units in full-year 2020, the lowest total since the beginning of the decade, but the industry's performance finished the year stronger than anticipated, according to industry analysts.

      Cox Automotive said strong December sales boosted the year's final projection, according to a report Jan. 6.

      "The final days of December appear to have been stronger than forecast, and a number of [automotive] OEMs have cited unexpected robust retail activity over the holidays," said Charlie Chesbrough, Cox senior economist. "There was also no shortage of positive news in the last week of December, and that may have encouraged consumers and lifted sales – passage of the stimulus package, more certainty around the election outcome, coupled with a lot of vaccine news."

       

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      Mentions: automotive sales car
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