The Smithers Group has upgraded its tread wear testing capabilities at its primary Tire and Wheel Test Center in Ravenna, Ohio.
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."
The European subsidiary of Bridgestone Corp. is acquiring a chain of 104 stores in France.
The North Carolina Tire Dealers Association (NCTDA) will honor its 2017 Dealer of the Year and induct two new members into its Hall of Fame.
Mark Peak of Peak Auto Service Inc. in Girard, Kan., won the grand prize in a recent Jeep Rubicon Sweepstakes from Friend Tire Co., a wholesaler in Monett, Mo. that's a wholly owned subsidiary of the Yokohama Rubber Corp.
Discount Tire has added a store in Sugar Land, Texas. It is the third Discount Tire outlet in Sugar Land, which is part of the Houston metropolitan area, and the 12th location in Fort Bend County.
Every year, Modern Tire Dealer breaks down "the year that was" in its January Facts Issue. It is the first publication with an in-depth report on the previous year's performance.
The 2017 Lexus LS sedan features the Turanza T005 run-flat tire by Bridgestone Corp. as original equipment.
The third annual North American Tire & Retread Expo will be held April 19-21 at the Ernest N. Morial Convention Center in New Orleans.
Tenneco Inc. wants to reward loyalty in a big way. That is why the company has launched the 2017 Expert Plus loyalty program for automotive service providers.
The January 2017 Facts Issue features a record 42 charts and graphs. That includes an expanded "Pricing and Sizes" section.
It looks like Cooper Tire & Rubber Co. will be the second tire manufacturer to announce a price increase or price increases three weeks into the new year.
Denso Products and Services Americas Inc. has added 14 part numbers to its selection of First Time Fit tire pressure monitoring system (TPMS) sensors. The new part numbers add coverage for more than 10 million European and Korean vehicles.
Directors of Goodyear Tire & Rubber Co. have declared a quarterly dividend of 10 cents per share of common stock. The dividend is payable March 1, 2017, to shareholders of record on Feb. 1, 2017.
Yokohama Tire Corp. (YTC) has named Jeff Barna chief operating officer. He will be responsible for sales, marketing and product planning.
Due to the Martin Luther King Jr. holiday, Modern Tire Dealer will not publish Hotwire on Monday. Look for the next edition on Tuesday, Jan. 17.