Tyre industry intelligence, market reporting, and editorial analysis — curated for Southern African professionals.
As the coronavirus pandemic continues to worsen across the globe, sickening at least 336,000 people and prompting business closures in an attempt to protect employees and stop the spread of the outbreak, which has claimed more than 15,000 lives as of March 23, the effects on global tyre makers is significant. The impact is being […]
Autonomous vehicles (AVs) will become an increasingly significant part of transport systems in the 2020s and pose new challenges for the tyre industry. This, according to Smithers’ latest market report, ‘The Impact of Autonomous Vehicles on Tires to 2029’. The report identifies a number of advantages AVs can have. These include improving safety; increasing shared […]
Pirelli, in light of the present Covid-19 emergency, has decided to cancel the production and launch of the 2021 Pirelli Calendar. In the context of other initiatives already undertaken by the company, “The Cal” project will donate 100,000 euro to the fight against and research into Coronavirus. “The production of the Pirelli Calendar has been stopped […]
In response to the coronavirus pandemic, Michelin and Cooper Tire have both begun working to produce and deliver several types of masks as a donation to health care workers. Michelin says it will produce about 400,000 category 1 surgical masks weekly, either in its own workshops or in collaboration with partners or subcontractors. Ten sites in Europe have already […]
As the economic impact of the lockdown continues to be felt by many sectors of the economy, the automotive aftermarket industry is looking to constructively engage with government to find an alternative funding solution to sustain businesses and employees in this critical sector. Jakkie Olivier, CEO of the Retail Motor Industry Organisation (RMI), says he […]
2020 outlook withdrawn due to ongoing uncertainty regarding market development Preliminary results for first quarter: consolidated sales of around €9.4 to €9.8 billion; adjusted EBIT margin of around 2 to 3 percent More than 40 percent of production locations worldwide have temporarily ceased activities CEO Dr. Elmar Degenhart: “We are safeguarding liquidity by cutting costs substantially and thus maintaining our ability […]
The health crisis has caused a noticeable slowdown in the activities of the Michelin Group, which has led to some employees having to undergo partial unemployment measures. In this context, and as a demonstration of solidarity with the entire employee community, the Managing Partners, the Executive Committee, as well as the Chairman and independent members […]
Hankook Tire has resolved to enhance its shareholder-friendly management including further increasing shareholder value, reinforcing financial solvency and strengthening primary competitiveness through innovation, in its board of director resolution and shareholder letter. Hankook will buy back its shares to enhance shareholder value. The company says it plans to purchase about KRW 50 billion worth of Hankook […]
A NOTICE TO THOSE IN ESSENTIAL SERVICES We don’t want people to take the road, but rather stay at home. But we know that in order to keep our country going, our essential services workers will have to. Dunlop would like to thank each and every one of you for your patriotism, by offering you […]
Bridgestone Corporation has released a statement that supports the decision made by the International Olympic Committee (IOC) and Games organizers to postpone the Olympic and Paralympic Games Tokyo 2020. We believe this is the right decision to protect public health and the well-being of global athletes who have sacrificed so much to chase their dreams. […]
President Donald Trump signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), H.R. 748, on Mar. 27, which gives relief to individuals, small businesses and corporations during the coronavirus pandemic. The bill offers a $2.2 trillion stimulus package that would provide relief to individuals and companies, including small businesses, according to SEMA. The CARES Act is the third […]
Dunlop is asking South Africa to play our part by staying home, as the world fights the COVID-19 pandemic. The company, owned by Sumitomo Rubber South Africa, has launched a ‘Don’t Take The Road’ message urging the public to leave our roads empty during the 21-day national lockdown. Businesses, schools, restaurants and other public places […]