Readers of a certain age will remember the Magic 8-Ball, that strange, plastic toy that provided instant answers to those all-important questions (“Will I ace my math test?” “Will I win the lottery?” “Will the Browns ever make it to the Super Bowl?”) I thought it would be fun to apply Magic 8-Ball-like answers to several tire industry-related questions that have been on my mind and could very well be on your mind, too.
Prabhash Subasinghe oversees all operations of Global Rubber Industries (Pvt.) Ltd. (GRI), from product development and manufacturing to the Sri Lanka-based company’s sales operations, which span 50 countries.
Paolo Ferrari, president, CEO and COO of Bridgestone Americas Inc., returned to North America at an interesting time. He assumed his current role on Jan. 15, a few months before the COVID-19 pandemic struck the continent.
Thousands of tire dealers across North America have turned to no-credit finance providers as a way to reach more customers and capture additional sales at the front counter. And now, with the economy in a constant state of uncertainty thanks to COVID-19, dealers say this service is even more critical.
Selling tires to construction fleets has always been a tough business. And it has become even more challenging as construction companies apply extra scrutiny to their tire budgets and purchasing decisions due to continued, COVID-19-driven uncertainty.
Bridgestone Corp. is accepting unpredictability and bracing for the possibility of a second wave of the coronavirus in Japan and abroad. In establishing its first financial forecast of the year, the tiremaker says it is assuming a drop in demand in the fourth quarter of 2020.
Cooper Tire & Rubber Co. experienced a net loss of $6 million during the second quarter of 2020 versus net income of $9 million during the same period last year. During 2Q 2020, Cooper’s net sales fell 26.9% to $496 million.
The latest tire shipment forecast from the U.S. Tire Manufacturers Association (USTMA) predicts about 53.3 million fewer tires will be shipped in 2020 than last year due to the economic downturn forced by COVID-19.
Sales at Monro Inc. for the first quarter of fiscal year 2021 reflect the effects of COVID-19, with sales in April, May and June dropping 22.1% compared to the previous year. Tires, which account for more than half of the company’s sales, were easily the best performing category, and they were down 14%.
Michelin Group recorded a 22.4% drop in tire volumes in the first half of 2020, and the company is forecasting a tough road for the global tire industry for the remainder of the year, with double-digit declines in the passenger, truck and specialty tire markets.
After a few tough months, car count has picked up at Omaha, Neb.-based Jensen Tire & Auto. With 21 retail locations, the company is the 54th largest independent tire dealership on this year's MTD 100. In this MTD exclusive, Matt Jensen provides an update on customer demand at his dealership and explains why "cash is king."
The Specialty Equipment Market Association continues to plan for an in-person 2020 SEMA Show, but organizers also are watching a spike in coronavirus cases in Las Vegas and working on a virtual element to meet the demand of international attendees who may face travel restrictions.
A customer walks into your store, hands you a credit card and says, “This is what I want for my vehicle. Just run the card and we’ll discuss the price later.” Craig Dobrin, vice president of operations at Marietta, Ga.-based Butler Tires & Wheels, says this type of interaction has become a regular occurrence at the four-location dealership.