The Tire Industry Association (TIA) has named LeAnn Harley as its director of marketing and communications.
Would you believe a 60% tariff? That is a possibility, according to a report by Exane BNP Paribas.
On July 22, 2014, the United States International Trade Commission determined consumer tire imports from China may or may soon be "materially" injuring the domestic tire industry.
The decision begins a process that may lead to a 60% additional tariff, "plus 26% punitive tariffs," according to Exane. "The Chinese Rubber Industry Association has said that should this materialize, it would be impossible to import tires from China, and that it would demand the Chinese government take countermeasures."
The tariffs would be in addition to the 4% duty already in place on consumer tire imports from China.
Tire manufacturers have been mum on the subject of possible tariffs. Exane believes Groupe Michelin would benefit from additional tariffs.
"The possible re-introduction of U.S. tariffs on China-made tires could result in a 1-2% tailwind to Michelin's EPS (earnings per share), while highlighting its dependency on low profitability and price-driven, entry-level tires."
Michelin was affected negatively when the tariffs imposed on passenger and light truck tire exports from China to the U.S. in 2009 expired in 2012, according to Exane.
"Michelin does suffer from competition from entry-level players, unlike any other European tire maker," says Exane. "As we firmly believe the premium segment is set to structurally grow faster and be more disciplined and profitable, we think Michelin shares deserve to trade at a discount to EU (European Union) peers, and see them as being fully valued currently."
Exane S.A. is an investment firm based in Paris, France. Under the brand name Exane BNP Paribas, Exane says it "provides institutional investors with a range of services, such as research, sale and execution on European equities."
Modern Tire Dealer’s European Writer John Stone visited the recent Tire Technology Expo in Hanover, Germany, where the latest tire production innovations were on display.
Bear’s Tires Inc. in San Diego, Calif. won the first place prize in the fourth-quarter Nexen Next Level sweepstakes. Owner Mike Power's tire purchases earned him a $30,000 award.
The leader of the United Steelworkers union says the International Trade Commission has made "a huge mistake" in not imposing tariffs on truck and bus tires from China. And based on early feedback from Modern Tire Dealer readers, tire dealers and particularly retreaders agree.
Tireco Inc. has added six sizes to its commercial van lineup, which features the new Milestar Steelpro MS597S.
No tariffs will be assessed on truck and bus tires manufactured in China and imported into the U.S. The International Trade Commission (ITC) has upended the tariff investigation by voting today against imposing tariffs on these products.
Tyrexpo Asia 2017 and the inaugural edition of GarageXpo Asia will be held in conjunction with each other March 21-23, 2017, in Singapore. The events are organized by SingEx Exhibitions Pte. Ltd.
Goodyear Tire & Rubber Co. has been named the world’s most admired tiremaker by Fortune magazine for the fifth straight year.
Allpart Supply Inc. has opened a training facility in Arlington, Texas, for wheel balancing and automotive lift owners and operators.
Colleen Horn Doyle, a fourth-generation member of the McCarthy family, is the new corporate attorney for McCarthy Tire Service Inc.
Cooper Tire & Rubber Co. is recalling certain Discover M+S Sport tires in 15- through 19-inch sizes. The potential number of units affected is 7,067.
Tire Factory Inc. members have rebranded the vast majority of their 206 stores to the Point S banner at a breakneck pace. And leaders of the Oregon-based cooperative are unveiling new programs with two big hopes: the momentum of current members continues, and more independent tire dealers join their network.
Cooper Tire & Rubber Co. posted net income of $69.3 million on net sales of $783.9 million for its fourth quarter ended Dec. 31, 2016. That compares to income of $59.2 million on sales of $775.5 million for the same period in 2015.
ATV Inc. has acquired six stores in the greater Los Angeles metro area. The purchase expands ATV's network of American Tire Depot stores to 98 outlets, all in California.
The Mid-America Tire Dealers Association (MATDA) has joined the social media content platform developed by the Tire Industry Association (TIA) and the Automotive Marketing Foundation (AMF).