Now that Goodyear has finalized its buy-out of Cooper, the big question is, "What comes next?" Tire industry analyst John Healy provides his take on the Goodyear-Cooper deal during this episode of The Modern Tire Dealer Show.
In this episode of The Modern Tire Dealer Show, Martin Dixon, director of research products for Drewry, a leading provider of consulting services to the global shipping industry, explains why it's taking longer than ever for tires to arrive from Asia and why you're paying outrageously high rates for them.
One good thing that has come from the COVID-19 crisis has been the acceleration of digital tools in the workplace, and that includes at tire dealerships across the country. We wondered what tools and features dealers have added and relied on most in the last year.
As automakers over the past year have been playing whack-a-mole — attacking everything from COVID-19 production shutdowns, part and microchip shortages, and supply chain problems — it means there have been plenty of disruptions at the neighborhood car dealership. And that presents tire dealers with opportunity, but also some fresh challenges.
When Indy Tire Centers Inc. dba Best-One of Indy acquired two R&T Tire stores this spring, it was the latest evidence of the company’s growth. But just as important, it was another entry point into Indiana’s farming economy. “We’ve always provided ag and OTR and truck tire services, but as we expand out of the major metropolitan area of Indianapolis, it’s definitely an emphasis on ag,” says Scott McKenzie, vice president of commercial for Best-One of Indy.
Join the editors of Modern Tire Dealer for The Modern Tire Dealer Show, a weekly podcast covering everything that’s important to tire dealers. In this episode, editors Mike Manges, Ron Ledgard and Joy Kopcha analyze the biggest tire industry stories of the last several months - from mergers and acquisitions to tire supply and the ongoing shipping crisis - and what they mean for you.
The International Trade Commission has ruled most of the tariffs on passenger and light truck tires imported from South Korea, Taiwan, Thailand and Vietnam will remain in place, but there is one big exception.
Shipping delays, price increases and the impact of new tariffs are all having a big effect on the U.S. tire market, but all three hitting the industry at once is creating an especially chaotic situation in the lower tiers. Executives from Sumitomo Rubber North America Inc. broke down the chaos during their latest dealer forum.
Even though the integration isn't complete, Goodyear Tire & Rubber Co. Chairman, CEO and President Rich Kramer outlined three details that are critical to Goodyear and Cooper tire dealers about what to expect from the combined companies in 2021.
McCarthy Tire Service Co. Inc. has divested of four retail tire locations in the last year. That may not seem noteworthy for a tire dealership so heavily focused on the commercial tire business. But President John McCarthy Jr. maintains retail tire service is a profitable and important part of the company’s strategy.
About three years ago, Tom Ceniglis Jr. uprooted his entire marketing plan. No more radio ads. No more billboards. And the second generation owner of Tom’s Tire Pros, a two-store retail business in Abilene and San Angelo, Texas, says twice in the last year the company has broken its all-time sales records.
Monro Inc. has its eyes on the southwestern U.S., and the nation's third-largest tire dealer, which is known for its aggressive growth-by-acquisition strategy, now says it's ready to build stores from the ground up if it can't find properties to buy in this market.
The Goodyear-Cooper deal has cleared another regulatory hurdle, and at the same time Goodyear Tire & Rubber Co. says it will offer $1.45 billion in senior notes to fund the cash portion of the acquisition.
When tire dealers think about wanting to grow and increase their local market share, they often focus on attracting more customers, retaining the ones they have and providing consumers with services that also boost the business’ profitability. Upgrading a dealership’s point-of-sale (POS) system might not seem like a priority, but software providers say it should be.
In our latest exclusive interview with Peter Gibbons, CEO of TireHub LLC, we cover all the essentials, including the current state of tire supply, expansion plans, and what the potential Goodyear-Cooper deal could mean for TireHub and its customers.
Tire prices are going up. Supply issues continue. And tire dealers tell Modern Tire Dealer both are having an effect on what happens at the sales counter. Since nearly every major tire manufacturer has announced a price hike in recent months, MTD set out to find how that’s affecting sales and profitability. We checked in with six dealerships for a progress report as the first quarter comes to a close.