Replacement consumer tire sales continue to drive Goodyear Tire & Rubber Co.'s recovery and rebound from COVID-19, with overall replacement tire volume increasing 14% in the first quarter, a number Goodyear says "significantly" exceeded the industry. The tiremaker recorded sales of $3.5 billion in the period, up 15% from a year ago, yet still shy of pre-pandemic results.
Continental Tire the Americas LLC is filling out its construction truck tire portfolio, adding two more sizes to the Conti HSC 3 steer/all-position tire, plus retreads to match the ContiTread HSC 3 and ContiTread HDC 3.
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.
The Tire Industry Association (TIA) is partnering with a mobile training platform to deliver TIA-approved training in daily, five-minute sessions. The goal is to increase knowledge retention for technicians who have completed a TIA 200- or 300-level course.
In an effort to assure its 10,000 global employees, Cooper Tire & Rubber Co. answered some frequently asked questions as its potential acquisition by Goodyear Tire & Rubber Co. looms in the future. The FAQ, filed with the Securities and Exchange Commission, provides insights and answers for both companies’ tire dealers, too.
As the U.S. nears the one-year mark of the COVID-19 pandemic and shutdowns, all eyes are on the vaccines. McCarthy Tire Service Co. Inc. is tracking vaccine developments throughout its nine-state market area, and President John McCarthy Jr. is doing everything he can to encourage and enable employees to get their shots.
Yokohama Rubber Co. Ltd. has set its global goals for 2023, and part of the company's vision is to increase both original equipment and replacement tire sales while focusing on its Advan and Geolandar lines, as well as its winter tire sales.
As a combined company, Goodyear Tire & Rubber Co. and Cooper Tire & Rubber Co. represent 200 million tires sold, annual revenues of $17.5 billion and a business that would be 80% focused on the replacement tire business.
Retreaders endured an uneasy 2020, but they pushed forward with investments in facilities and technology as they remained focused on the future. Here's a look at the domestic retread tire market in 2021, and some of the people making things happen.