Business - Financial
The pace of importing passenger and truck/bus tires into the U.S. slowed measurably in the third quarter after growing by double digits in the first and second quarters.
Even as Sumitomo Rubber Industries moves to close its only U.S. tire factory, executives continue to be sold on the need for a manufacturing presence in North America.
Goodyear, Michelin North America and Pomp's Tire Service Inc. have been awarded three-year contracts valued at more than $265 million for the supply of tires to the Department of Defense.
Toyo Tire Corp. has revised up its full-year earnings outlook as the group reported a strong third quarter, buoyed by higher sales, lower costs and favorable currency effects.
Kumho Tire Co. Inc. has again signaled plans to build a new “global” tire factory, while reporting a strong third-quarter business performance.
Michelin is planning to shut two plants in France over the coming 15-18 months, due to the “profound transformation” of passenger and truck tire markets in Europe over the past decade.
The management of ATD's Tire Pros retail franchise program continues to refine and enhance the program's digital ecosystem in an effort to empower dealers to serve their customers more effectively.
Toyo Tire U.S.A. will launch the next 'maximum-performance' version of its Proxes high-performance line, dubbed the Proxes Sport 2, in February 2025.
Monro Inc.'s operating income plunged 41% in the firm's second fiscal quarter as sales fell 6.4%.
Michelin has lowered its full-year earnings outlook as third-quarter and nine-month sales revenue was impacted "significantly" by lower volumes.