Toyo Tire U.S.A. Corp. is bringing big displays and big vehicle debuts to the 2016 Specialty Equipment Market Association (SEMA) Show in Las Vegas, Nev.
Tire pricing in the aftermarket took a step backward in August. So says industry analyst Nick Mitchell.
"Our survey of more than 20,000 consumer replacement tire SKUs suggests that the broader pricing environment deteriorated slightly during August," says Mitchell, senior vice president of research for Northcoast Research Holdings LLC. "Indeed, following three straight months of firmer pricing, U.S. consumer replacement tire prices faded a bit in August, as the average price of a light vehicle tire in our sample fell 0.3% on a sequential basis."
In addition, the average price of the most popular passenger tires was down 0.2% ("recall the category increased 3.7% in July mainly driven by an increased availability of higher priced Hankook SKUs"), while the average price of the most popular light truck tires fell 0.6% ("the average price for a premium tire was down 0.1% and the cost of the average mid-tier tire decreased 0.7%").
"While we were not entirely surprised by the minor declines across each category considering several recent increases on specific brands/categories, we believe the modest declines in the Tier 1 and Tier 2 categories were due more to out-of-stocks on several high price-point tires rather than pressure from increased volume rebates in the Tier 3 channel."
The demand/supply relationship for Tier 1 and Tier 2 product remains "very healthy" in the replacement market, says Mitchell.
"Despite the minor price readjustments during August, we continue to believe that pricing trends are stabilizing at the manufacturing level across Tier 1 and Tier 2 brands."
In order to monitor pricing trends in the consumer replacement tire market, Northcoast Research developed the Northcoast Research Tire Pricing Index, which is a proprietary data set comprised of retail prices.
Point S is continuing its expansion around the globe, with a partnership that will bring the brand to Asia. A master franchise agreement with Goodway Integrated Industries Berhad (GIIB Group) and partners will create a dedicated company to manage and develop the Point S network.
Centric Parts’ 2017 brake systems catalog has more than 5,100 new part listings.
Kumho Tire USA Inc. and the National Basketball Association (NBA) have agreed to extend their multiyear extension marketing partnership in the U.S., Canada and Korea.
Hunter Engineering Co. is offering visitors to its Specialty Equipment Market Association (SEMA) Show booth the chance to win a SmartWeight Touch wheel balancer.
Meineke Car Care Centers LLC will provide free oil changes to American service men and women on Veterans Day.
Goodyear Tire & Rubber Co. will report third quarter 2016 financial results on Friday, Oct. 28, followed by an investor conference call at 9 a.m.
Cardone Industries, Inc. has created three managing director roles as part of a new sales leadership structure. The three new managing directors report directly to CEO Stan Gowisnock.
A Michelin North America Inc. plant in Tuscaloosa, Ala. is celebrating 70 years of tire manufacturing. Originally constructed to produce material for the war effort, the plant manufactured its first tire on Oct. 23, 1946, and has since produced nearly 490 million BFGoodrich tires.
Pro Comp USA has added two 22-inch sizes to its Xtreme MT2 line. They are available for order and shipment, according to the company.
Federal tires are returning to Las Vegas! Federal Corp. says it is celebrating its return to the Specialty Equipment Market (SEMA) Show with "bigger-than-ever exhibits."
Richard Kramer was not the only one on hand to christen the Goodyear Tire & Rubber Co.'s newest blimp. So was Akron native Savannah James.
Big O Tires LLC and its franchisees have raised more than $72,000 for scholarships in 2016, the most in the history of the Big O Tires Scholarship Fund program.
The Car Care Council Women’s Board has named Amy Bonder, vice president of sales and strategy for Bridgestone Retail Operations LLC, the recipient of its 2016 Auto Care Woman of the Year award.
Hankook Tire America Corp. wanted to get more out of its partnership with the Disabled American Veterans (DAV) charity. So it doubled the number of Hankook-sponsored DAV Mobile Service Office (MSO) stops this year.