UK commercial vehicle production falls by -25.6% as 6,761 units leave factory gates in October. Production both for overseas and domestic markets in double digit decline as dual impact of Covid-19 and risk of ‘no deal’ Brexit bring down operator confidence. Shortfall of 11,256 commercial vehicles in first 10 months pulls year-to-date performance down -18.1%.
The Commercial Tyre Business Breaking News section brings you the latest stories emanating from the commercial tyre and fleet management industries.
Drive Home Brexit Deal for Christmas or Risk £55bn Manufacturing Hit, Warns UK Auto Sector
UK Automotive warns of Brexit tariff damage as new figures reveal ‘no deal’ would cut vehicle production by two million over next five years. WTO tariffs would strike £55.4bn blow to UK sector by 2025 with annual production falling below one million units consistently.
Nikolai Setzer To Become Continental CEO
Supervisory Board appoints Nikolai Setzer, as Continental’s new Executive Board chairman effective December 1, 2020. Setzer succeeds Dr. Elmar Degenhart, who, as already announced, is stepping down from his position prematurely for health reasons. Setzer will continue in his position as spokesman of the Automotive Board.
Recircle Awards 2021: Nominations Shortlist Announced
Valebridge Media Services (VMS), the Crewe, UK and Madrid, Spain-based media services agency, has announced the shortlist of nominees for the inaugural Recircle Awards 2021, the recently launched awards event recognising sustainable innovation, production processes, management and services within the tyre retreading and recycling industries.
Hankook Listed in DJSI World for the Fifth Consecutive Year
Hankook is again featured in the world-renowned Dow Jones Sustainability Index World. The DJSI World recognises Hankook’s sustainability management commitment, especially in the areas of Social Contribution and Supply Chain Management. Hankook has been included in the DJSI World since 2016, and is the only Asian company in the automotive supply industry to have been recognised in 2020.
Nokian Tyres Again Included in the Prestigious Dow Jones Sustainability Indices
Nokian Tyres has been included in the Dow Jones’ DJSI World sustainability index for the fourth consecutive year. The company was also selected for the more strictly defined DJSI Europe index.
Kerr’s Tyres Group Acquires Roundabout Tyre & Battery Service
Northern Ireland tyre management specialists Kerr’s Tyre’s & Auto has acquired Belfast based Roundabout Tyre & Battery Service for an undisclosed sum.
Hankook Tire Announces Financial Results for the Third Quarter of 2020
For the third quarter of 2020 Hankook Tire reports an increase of global sales and operating profit by 2.8% and 24.6% respectively year-on-year, and by 38.3% and 220.5% compared to the previous quarter. This recovery is mainly attributed to increased sales of replacement tyres in major regions such as Europe, North America, and China. It was also driven by increased sales of OE tyres as well as high-inch tyres of 18 inches or above in China. The company’s Laufenn brand product portfolio is also a key contributor to driving demand from customers seeking both quality and competitive price.
Hankook Tire Wins Gold at the 2020 Galaxy Awards
Hankook Tire has received gold at the 2020 Galaxy Awards for its CSR Report 2019-20.
Pneuhage Produces Millionth Truck Retread
Pneuhage, the Karlsruhe, Germany based tyre dealer and retreader, has announced that it has manufactured its millionth retread since the company’s plant first opened in 1988.