Cooper Tire & Rubber Co. President and CEO Tom Dattilo outlined several issues that will impact the tire industry during the coming year at an International Tire Expo presentation this morning.
They include:
1. Consolidation, which "has slowed down" due to economic
uncertainty. "Opportunities are going to have to be phenomenal before tiremakers seriously consider more," Dattilo says.
2. "Consumers are looking for products and brands they can trust. Independent tire dealers have a reputation for the delivery of quality products and standing behind (them)."
3. TREAD Act issues, including test standard revisions "that may require the redesign of some tires."
Dattilo said that tires with no speed ratings "could be eliminated from the market" due to increasingly stringent speed tests.
In addition, tire manufacturers may be forced to apply extremely strict guidelines to tire adjustments due to data sharing requirements imposed by the federal government.
