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COVID-19’s impact on tire industry: News you may have missed

March 27th, 2020 | by Tire Business Staff
COVID-19’s impact on tire industry: News you may have missed

The coronavirus, COVID-19, has become a global pandemic, according to the World Health Organization, and fears over the spread of the virus are impacting everyday life in the United States from schools closing to major league sports seasons being canceled.

And the impact is being felt in the tire business, too.

Here’s a look at some of the latest ways COVID-19 is affecting the industry.

Note: this story will be updated as new information becomes available.

What’s been canceled and postponed?

Tire Business has been covering the impact of the coronavirus on the industry in the last month. We’ve put together a tracker of the various events that have been affected by the virus.

Tire dealers going above and beyond during pandemic

Free repairs for those who recently lost their jobs; extra services offered to allow customers to stay at home; and collecting donations for charity. These are just some of the activities tire dealerships are doing to navigate the uncharted waters of the COVID-19 pandemic that has disrupted businesses and everyday living.

Tire makers’ 2020 fiscal outlooks reflect uncertain climate

AKRON — Even before the outbreak and spread of the coronavirus cast its shadow over the global economy, the world’s leading tire makers had — for the most part — expressed only muted optimism for 2020.

The tire makers’ outlooks for 2020 follow a year when only three of the largest dozen or so companies — Cooper Tire & Rubber, Group Michelin and Pirelli & C. S.p.A. — recorded improved earnings over fiscal 2018.

In their fiscal 2020 outlooks, various tire makers referenced situations such as a “deteriorated environment and shrinking markets” or a “challenging global environment, including recessionary demand trends in many international markets.”

Yokohama’s truck tire plant in West Point, Miss. (Photo by Yokohama).
Yokohama’s truck tire plant in West Point, Miss. (Photo by Yokohama).

Yokohama temporarily suspends production at Mississippi truck tire plant

WEST POINT, Miss. — Yokohama Tire Corp. (YTC) temporarily is suspending production at its truck tire plant in West Point, as of March 28, in response to the coronavirus.

The controlled shutdown at Yokohama Tire Manufacturing Mississippi (YTMM), a response to the impact of the global COVID-19 pandemic, is expected to last for two weeks, the company said.

Kenda Rubber plants worldwide continue to operate

REYNOLDSBURG, Ohio — All of Kenda Rubber Industrial Co. Ltd.’s tire plants across the globe are operating and shipping products to the company’s original equipment and aftermarket customers in the Americas, according to its U.S. subsidiary, Kenda Tire USA Inc.

Taiwan-based Kenda operates two plants each in China and Vietnam and one plant each in Indonesia and Taiwan.

Kenda Tire USA said it is operating with state-mandated guidelines in all U.S. locations, “to prioritize our employee and customers’ health and safety,” in the wake of the COVID-19 pandemic.

Conti, Goodyear keeping commercial tire service networks open

AKRON — Continental Tire the Americas and Goodyear are keeping their respective U.S. truck care networks open during the COVID-19-induced economic slowdown to support the trucking industry help deliver needed products like medical supplies and groceries.

The companies’ announcements are for their BestDrive L.L.C. commercial tire and retread business and Goodyear Commercial Tire Service (CTS) truck care centers, respectively.

Article courtesy of: Tire Business Staff

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