Toyo Tire Corp. posted a year-over-year global net sales decline of 8.9% during the first quarter of 2020. Its operating income in 1Q 2020 fell 31.8% from 1Q 2019 levels.
Bridgestone Corp. recorded a 11% year-over-year drop in global revenue and a 39% year-over-year decline in operating profit during the first quarter of 2020.
Bridgestone Americas Inc. says it is targeting the end of May for a restart of all of its manufacturing operations in North and Latin America. That includes consumer tire plants that have been closed since March.
As the top executive at the North American subsidiary of one of China’s largest tire manufacturers, Manny Cicero, CEO of Triangle Tyre USA, has a unique perspective on how COVID-19 has impacted tire manufacturing.
“Several of Michelin’s plants across the U.S. and Canada continue to operate at full or reduced capacity, while others are still idled due to broad effects of the COVID-19 response,” a Michelin North America Inc. spokesman told MTD.
Hankook Tire & Technology Co. Ltd. experienced a 12.6% year-over-year decline in sales during the first quarter of 2020 and a drop in operating profit of 11.2%, 1Q 2020 verus 1Q 2019.
The organizers of the China International Tire Expo (CITEXPO) have moved the event to Aug. 16-18, 2021. It was originally scheduled for Aug. 17-19, 2020.
Leaders of both the Specialty Equipment Market Association (SEMA) Show and Automotive Aftermarket Products Expo (AAPEX) say their 2020 events will go on as scheduled.
Continental AG posted first quarter net sales of 9.8 billion euros, a 10.9% year-over-year decline. Adjusted EBIT fell to 432 million euros during 1Q 2020, about half of what Continental reported for 1Q 2019.
Nokian Tyres plc’s new Fresh Start campaign is offering tire and auto maintenance tips “to help drivers ensure their vehicles are in proper shape when they return to their adventures and daily routines.”
Cooper Tire & Rubber Co.'s plants in the United States are expected to "return to reasonably good utilization rates as we exit the second quarter," Cooper President and CEO Brad Hughes said during the company's first quarter investor call.
When will the North American replacement tire segment normalize? Yongsik Shin, the head of Kumho Tire’s Americas business region, says it could happen within three months “after shelter-in-place regulations are lifted.”
Cooper Tire & Rubber Co. posted a first quarter net loss of $12 million compared with net income of $7 million for the same period last year.
Kumho Tire Co. Inc.'s plant in Macon, Ga., has resumed production.
Pirelli Tire North America Inc.'s plant in Rome, Ga., is building tires again, a Pirelli spokesperson has informed MTD.
Zhongce Rubber Group Co. Ltd. (ZC Rubber) says it has resumed full production at its tire factory in Hangzhou Qiantang New District. Here's a look at the tiremaker's return to full capacity after the effects of COVID-19.
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