Latest news with #TruckandBusRadial
Yahoo
3 days ago
- Business
- Yahoo
Hankook Tire Commits Support to Boys & Girls Club of Middle Tennessee
$20,000 donation will support new club set to open in Clarksville, Tenn. NASHVILLE, Tenn., June 3, 2025 /PRNewswire/ -- Leading global tire manufacturer Hankook Tire has donated $20,000 to support the upcoming opening of the Boys and Girls Club of Middle Tennessee's (BGCMT) newest location in Clarksville, Tenn. At an event held on May 31, officials from Hankook Tire and BGCMT – Clarksville Club came together to officially announce the tiremaker's support of the club's initiatives as they look towards the opening of their Clarksville location. With this sponsorship, Hankook Tire will support BGCMT's plans to bring its services to the greater Clarksville area. BGCMT announced plans to open a new club in the area in June 2024, following a thorough assessment which identified a strong need for the club's presence to bring positive enrichment and activities to the city's youth. As Clarksville's population continues to grow rapidly – in part due to economic investments from companies such as Hankook – BGCMT will offer dedicated, curriculum-based programs to help Club Members achieve success in priority areas including academics, healthy lifestyles, and good character and leadership. "Clarksville is home to our North America manufacturing operation, and we are dedicated to supporting the community where so many of us live and work," said Rob Williams, President of Hankook Tire America Corp. "We have seen the great work that the Boys and Girls Club of Middle Tennessee has done in the region, and are certain that the Club's presence in Clarksville will bring important academic enrichment and community to many of our own employees' families. We are excited and honored to be able to support that mission." Hankook opened its first U.S. manufacturing plant in Clarksville in October 2017. Since then, the tiremaker has become an integral part of the Clarksville community. Its $800 million facility in Clarksville currently employs more than 1,000 employees and produces 5 million tires each year. The Tennessee Plant is currently undergoing two expansions simultaneously to expand production of both its Passenger Car and Light Truck (PCLT) and Truck and Bus Radial (TBR) lines. Upon completion of the expansion plan, the facility will achieve an expected annual production capacity of 10 million PCLT and 1 million TBR tires. This expansion will not only establish the Tennessee Plant as one of the largest in North America, but also bring additional jobs to the region and establish stronger relationships with the Clarksville community. Hankook presented the check to BGCMT – Clarksville Club during its Summer Festival community event held on May 31. The event brought together local vendors, entertainment and attractions for a family-friendly fundraiser for the Clarksville Club. In addition to the donation, Hankook served as a corporate sponsor for the Summer Festival. "We are incredibly grateful and excited to have Hankook Tire as a partner. Their generous donation demonstrates a profound belief in our mission and a commitment to the future of Clarksville's youth," said Deidre Ward, Boys & Girls Clubs of Middle Tennessee Board Member and Clarksville Committee Chair. "We have a significant need for safe, affordable, and enriching environments for the youth in our community. Hankook's investment will directly help us establish a club where every child can reach their full potential. We are thrilled to partner with a company that not only provides economic growth to our city but also deeply invests in the well-being and success of our youngest citizens." The Boys & Girls Clubs of Middle Tennessee – Clarksville Club is actively working in collaboration with the Clarksville-Montgomery County School System and anticipates operating within the local school facilities. About Hankook Tire America Tire America Corp. is a growing leader in the U.S. tire market, leveraging investments in technology, manufacturing and marketing to deliver high-quality, reliable products that are safer for consumers and the environment. Headquartered in Nashville, Tenn., Hankook Tire America Corp. markets and distributes a complete line of high-performance and ultra-high-performance passenger tires, light truck and SUV tires as well as medium truck and bus tires in the United States. Hankook Tire America Corp. is a subsidiary of Hankook Tire & Technology Co., Ltd., a Forbes Global 2000 company headquartered in Seoul, Korea. View original content to download multimedia: SOURCE Hankook Tire America Corp.
Time of India
4 days ago
- Automotive
- Time of India
Continental puts brakes on truck-bus radial tyre biz in India
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Tyre maker Continental on Monday said it will discontinue its truck and bus radial tyre business in India with immediate effect, as part of a strategic realignment of its product portfolio in the company will fully focus on the profitable growth of its passenger car and light tuck (PLT) tyre business in the future, it said in a part of this strategic transition, the company will discontinue its Truck and Bus Radial (TBR) tyre business, it includes its dedicated TBR manufacturing line at its Modipuram tyre plant in Meerut, Uttar Pradesh."The company's priority is to support its employees by providing assistance and support, such as career counselling, as well as exploring potential employment opportunities inside and outside of Continental. In addition, a voluntary retirement and separation scheme will be offered," the company company, however, did not share the number of employees being impacted by this company stated the realignment is aimed at ensuring the long-term viability of Continental Tires' operations in the country."In response to changing local customer demand, Continental will focus on further developing its local product portfolio and manufacturing footprint to align with future growth opportunities in the PLT tyre premium segment," it decision follows a comprehensive business review aimed at safeguarding and strengthening the company's competitiveness in the Asia-Pacific region, it intense competition and high price sensitivity in the TBR segment, sustaining long-term value from Continental's premium offerings has been a significant challenge, it noted."Hence, Continental's Truck and Bus Radial tyre business manufacturing operations in India will be discontinued as of June 2025," it company noted that India remains a strategically important market for its tyre 2024, the Hanover-headquartered Continental generated sales of 39.7 billion euro and currently employs around 1,90,000 people in 55 countries and tyre division employs more than 57,000 people worldwide and has 20 production and 16 development sites.
Time of India
4 days ago
- Automotive
- Time of India
Continental Tires exits truck tyres biz; to focus on passenger segment
In a major strategic shift in India, Continental Tires has announced that it will exit its its Truck and Bus Radial (TBR) tyre business by June 2025 and will focus solely on Passenger Car and Light Truck (PLT) tyre segment. The TBR segment faces stiff competition and is highly price sensitivite. This realignment includes ceasing TBR manufacturing at its Modipuram plant in Meerut, Uttar Pradesh, to ensure the long-term viability of its operations and align with future growth opportunities in the PLT tyre premium segment . The company has recently opened an IT Hub in Bengaluru. A boost to local products The Faridabad-headquartered company will focus on further developing its local product portfolio and manufacturing footprint to align with future growth opportunities in the PLT tyre premium segment. The decision follows a comprehensive business review, which was aimed at safeguarding and strengthening the company's competitiveness in the Asia-Pacific region. The company serves both replacement and original equipment customers. Support for employees In the restructuring plan, the company has chalked out a plan to provide assistance to its affected employees. This support includes assistance and support, such as career counselling, and potential employment opportunities inside and outside of Continental. In addition, a voluntary retirement and separation scheme will be offered to the employees.
News18
26-05-2025
- Automotive
- News18
Balkrishna Industries Crashes 10% On Price Target Cuts, Expansion Concerns; Key Points
Last Updated: Shares of Balkrishna Industries Ltd plunged over 10% following a wave of price target downgrades by brokerages; Check latest target price Balkrishna Industries Share Price Today: Shares of Balkrishna Industries Ltd plunged over 10% in Monday's trade following a wave of price target downgrades by brokerages. The declines came amid continued concerns over demand uncertainty and the company's expansion into new tyre segments — particularly the Premium Passenger Car Radial (PCR) and Truck and Bus Radial (TBR) categories — which analysts believe could weigh on return on equity (ROE) in the short term. The stock hit an intraday low of Rs 2,385, down 10.33%, and has now dropped 15.82% year-to-date in 2025, underperforming the BSE Auto index, which is up 2.12% in the same period. In terms of financial performance, Balkrishna's Q4FY25 revenue beat Bloomberg estimates by 4%, while EBITDA margin stood at 24.8%, just shy of the consensus 25% estimate. EBITDA remained flat year-on-year, slightly above expectations. According to Nomura India, Q4 volumes were 82,000 tonnes, unchanged year-on-year, while average selling prices (ASPs) rose 2.7% quarter-on-quarter. However, the bottom line disappointed due to lower other income and higher interest expenses, resulting in a 25% year-on-year decline in PAT. Nomura downgraded the stock from 'Buy' to 'Neutral', citing concerns over the potential ROE dilution from its diversification into new tyre segments. It revised the target price upward to Rs 3,242 from Rs 2,644 earlier, factoring in the medium-term potential but also noting execution risks. Motilal Oswal Financial Services (MOFSL) also flagged ongoing demand headwinds in Balkrishna's key export markets. The brokerage cut its FY26 and FY27 earnings estimates by 8% each, and expressed skepticism over the company's entry into the niche PCR and TBR segments. 'Whether Balkrishna can gain meaningful market share in these new categories without significantly diluting margins and returns remains a key uncertainty," MOFSL noted. While the stock's valuations are no longer demanding, future re-rating would hinge on execution success, it said. Meanwhile, Nirmal Bang Institutional Equities maintained a 'Hold' rating on the stock, trimming its target price to Rs 2,645 from Rs 2,718. The brokerage said it continues to project a 9% volume CAGR over FY25–FY27, with margins improving to 26.2% by FY27. Despite near-term concerns, it believes Balkrishna remains a strong franchise, and its low-cost operations and geographic marketing efforts could drive superior long-term margins. Disclaimer:Disclaimer: The views and investment tips by experts in this report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions. First Published:
Yahoo
20-02-2025
- Automotive
- Yahoo
Global Truck and Bus Radial (TBR) Tire Market Size to Reach USD 29 Billion by 2031 at 6.7% CAGR, Driven by E-commerce Boom and Smart Tire Innovations
The global TBR tires market is experiencing steady growth, driven by favorable trade agreements and a strong commercial vehicle presence in developing regions. Increased awareness of vehicle maintenance, adoption of tire monitoring systems, and expanding retailer networks further fuel demand. Leading manufacturers are investing in digital sales channels and smart tire technology to enhance market reach and profitability. Wilmington, Delaware, Transparency Market Research Inc. –, Feb. 20, 2025 (GLOBE NEWSWIRE) -- The global Truck and Bus Radial (TBR) tire market (トラック・バス用ラジアル（TBR）タイヤ市場) has been experiencing significant growth, driven by a rise in demand for heavy-duty vehicles, expanding e-commerce, and technological advancements in tire manufacturing. Valued at US$ 14.9 Billion in 2021, the TBR tire market is expected to grow at a CAGR of 6.7% from 2022 to 2031, reaching US$ 29.0 Billion by the end of 2031. The demand for TBR tires is projected to grow steadily due to favorable trade agreements and the presence of a large commercial vehicle manufacturing base in developing countries. Increased awareness about vehicle maintenance, the adoption of tire monitoring systems by fleet managers, and the expansion of retailer and dealer networks in rural areas are key drivers of this growth. For more insights and to request a sample of the market report, visit: Additionally, the demand for TBR tires for heavy-duty vehicles is rising globally, prompting manufacturers to invest in specialized digital stores and smart tire technologies. The increasing demand for commercial vehicles in logistics, transportation, and construction sectors is further bolstering market market research report delivers critical insights for manufacturers, investors, and decision-makers, helping them navigate emerging opportunities, competitive threats, and future growth trends. Key Players - Key players in the Truck and Bus Radial (TBR) tire market include Apollo Tyres, Balkrishna Industries Limited, Bridgestone Corporation, China National Tire & Rubber Co., Ltd., Continental AG, Cooper Tire & Rubber Company, Giti Tire, The Goodyear Tire & Rubber Company, Hankook Tire & Technology Co. Ltd., Kumho Tire Co., Inc., MICHELIN, Nokian Tyres plc., Sumitomo Rubber Industries, Ltd., Yokohama Rubber Industries Co., Ltd., and Prometeon Tyre Group S.R.L. Recent Key Developments for Companies- The Truck and Bus Radial (TBR) tire market is characterized by several key players implementing strategic initiatives to enhance their market positions. Here are some notable companies and their recent developments: Bridgestone Americas announced the closure of its LaVergne, Tennessee plant in January 2025, resulting in 700 layoffs. This move aims to optimize business operations and enhance competitiveness. Goodyear Tire & Rubber Company completed its acquisition of Cooper Tire & Rubber Company for $2.8 billion in June 2021, aiming to expand its footprint in America and enhance product offerings for SUVs and light trucks. Hankook Tire & Technology Co., Ltd. launched the Smart iON AU06+, a TBR tire designed for electric vehicles, focusing on fuel efficiency, fast torque response, and high load support, in October 2022. CEAT Limited partnered with Marangoni S.p.A. in July 2023 to boost tire retreading for trucks and buses in India, aiming to extend tire life and reduce environmental impact. These developments highlight the industry's focus on strategic acquisitions, technological innovation, and sustainability initiatives to strengthen market positions and meet evolving consumer demands. Key player strategies for growth in TBR market- Key players in the Truck and Bus Radial (TBR) tire market are implementing several strategies to drive growth and enhance their market positions: 1. Product Innovation and Development: Companies are investing in research and development to create advanced tire technologies, such as smart tires and specialized compounds, to improve fuel efficiency, durability, and performance. 2. Strategic Partnerships and Collaborations: Forming alliances with other industry players enables companies to expand their product portfolios and enter new markets. For instance, CEAT partnered with Marangoni S.p.A. to enhance tire retreading services in India. 3. Mergers and Acquisitions: Acquiring other companies allows for market expansion and diversification. Goodyear's acquisition of Cooper Tire & Rubber Company in 2021 is an example of this strategy. 4. Geographic Expansion: Expanding operations into emerging markets, particularly in Asia Pacific, enables companies to tap into regions with growing demand for commercial vehicles and tires. 5. Adoption of Advanced Manufacturing Technologies: Implementing state-of-the-art manufacturing processes enhances product quality and operational efficiency, contributing to competitive advantage. By leveraging these strategies, TBR tire manufacturers aim to strengthen their market presence and meet the evolving demands of the transportation industry. Get Customized Insights & Analysis for Your Business Needs: Growth Drivers: E-commerce Expansion: Rapid growth in e-commerce has increased the demand for logistics and transportation, driving the need for TBR tires with enhanced durability and road grip. Technological Advancements: Manufacturers are focusing on smart tire development, utilizing advanced materials and integrated sensors to improve safety, durability, and performance. Infrastructure Development: Government investments in public transportation and logistics infrastructure are boosting demand for medium and heavy-duty trucks, driving the TBR tire market. Emerging Market Trends Emergence of Smart Tires: Integration of sensors for real-time tire monitoring is becoming popular among fleet managers for predictive maintenance. Growth in Aftermarket Sector: Increasing demand for cost-effective replacement tires is driving the growth of the aftermarket segment. Online Tire Sales: Leading manufacturers are leveraging digital platforms and third-party marketplaces to expand their reach and enhance customer experience. Focus on Fuel Efficiency: Development of low rolling resistance tires to improve fuel efficiency and reduce carbon emissions is a key trend. Market Segmentation By Application: Truck Segment: Dominates with 58.3% market share in 2021, driven by high demand for medium and heavy-duty vehicles in freight transportation. Bus Segment: Expected to grow due to rising public transportation needs and government investments in urban transit infrastructure. By Sales Channel: OEM (Original Equipment Manufacturer): Captures a substantial share due to direct supply agreements with commercial vehicle manufacturers. Aftermarket: Accounted for 55.0% market share in 2021, driven by increased demand for replacement tires due to the growing number of on-road trucks and buses. By Tire Size: Less than 15' 15' – 20' 21' – 30' More than 30' Regional Analysis Asia Pacific: Leading the global market due to rapid industrialization, strong manufacturing base for rubber, and growing logistics and transportation sectors in China, India, and Japan. Asia Pacific's dominance is expected to continue throughout the forecast period. North America: Significant market share driven by high demand for commercial vehicles, coupled with advanced tire manufacturing technologies. The rise in e-commerce and logistics activities further contributes to market growth. Europe: Characterized by a mature market with steady demand for TBR tires, particularly from the logistics and transportation industries. The growing emphasis on sustainability and fuel efficiency is influencing market trends. Middle East & Africa and South America: Emerging markets with increasing demand for commercial vehicles and infrastructure development projects, contributing to TBR tire market growth. Future Outlook The global TBR tire market is poised for substantial growth, supported by the increasing demand for commercial vehicles, technological advancements, and the rising popularity of smart tires. The shift towards e-commerce, coupled with the expansion of logistics networks, will further drive market growth. Key Market Opportunities: Expansion in Emerging Markets: Rapid industrialization and urbanization in Asia Pacific and Latin America offer growth opportunities. Smart Tire Innovations: Adoption of IoT and AI technologies in tire manufacturing is expected to drive the market forward. Sustainability Initiatives: Growing emphasis on eco-friendly tire solutions presents new avenues for market expansion. Purchase the Full Market Report Today: Why Buy This Report on the Truck and Bus Radial (TBR) Tire Market? Comprehensive Market Insights – Gain in-depth analysis of market trends, growth drivers, and challenges shaping the TBR tire industry. Competitive Landscape – Understand key players' strategies, recent developments, and market positioning to stay ahead of the competition. Future Growth Forecasts – Access accurate projections for market size, CAGR, and upcoming opportunities to make informed business decisions. Regional & Segment Analysis – Identify high-growth regions and key application areas to optimize investment and expansion strategies. Technological Advancements – Stay updated on innovations, including smart tires, sustainable materials, and digital sales platforms revolutionizing the industry. Investment & Business Planning – Use data-driven insights to guide strategic planning, partnerships, and market entry decisions. This report is essential for manufacturers, investors, suppliers, and stakeholders looking to capitalize on the expanding TBR tire market. Explore Latest Research Reports by Transparency Market Research: Car Leasing Market (カーリース市場) Estimated to expand at a CAGR of 7.8% from 2024 to 2034, The car Leasing market is expected to reach the value of US$ 1369.9 Bn by the end of 2034. Microcar Market (マイクロカー産業) Estimated to expand at a CAGR of 6.43 % from 2024 to 2034, The microcar industry is expected to reach the value of US$ 20.0 Bn by the end of 2034. About Transparency Market Research Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information. Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports. Contact: Transparency Market Research Inc. CORPORATE HEADQUARTER DOWNTOWN, 1000 N. 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