Numbers That Count

from Modern Tire Dealer - January 2022

by EndeavorBusinessMedia-VehicleRepairGroup

Products

Bites New year brings more price hikes

Hankook names CEO

Hyunbym Cho, current CEO of Hankook & Co., has also been named the company’s chairman. Cho, who joined Hankook in 1998 and has been instrumental in driving its growth, assumed the new role on Jan. 1. His predecessor as Hankook’s chairman, Yangrae Cho, will serve as the company’s honorary chairman. The year has begun with another round of tire price increases.

Bridgestone Americas Inc., Michelin North America Inc. Pirelli Tire North America Inc., Sumitomo Rubber North America Inc. and Toyo Tire U.S.A. Corp all are kicking off 2022 with price increases for passenger and light truck tires. (They follow Continental Tire the Americas LLC, which announced its latest hike earlier.)

Toyo and Michelin also are raising the prices of their commercial tires. Michelin says both on- and off-road commercial tires and services are going up by a maximum of 16%. Toyo’s rates are going up 10%.

With the exception of Toyo, the higher rates are effective this month. Toyo’s prices will increase on Feb 1.

Audi picks Bridgestone

Bridgestone Americas Inc. will supply custom-engineered, ultra-low rolling resistance tires for Audi’s first, fully electric SUV, the Q4 e-tron. The tires contain Bridgestone’s ENLITEN Technology, which the tire manuafcturers says reduces rolling resistance by up to 30% and cuts weight by up to 20%. The Audi Q4 e-tron is currently available in the U.S.

Mohawk names sales VP

Mohawk Rubber Sales has named Lance Meyer vice president of sales. A 29-year tire industry veteran, Meyer will be tasked with growing the company’s rapidly expanding sales department.

Omni scores style help

Omni United is partnering with the Italian automotive design house, GFG Style, to design the company’s flagship Radar line. The first newly designed tire, an extreme off-road tire, is expected to be available during the third quarter of 2022.

Pirelli continues with Milan

Sun Auto Tire, Mavis Tire end 2021 with more acquisitions

Sun Auto Tire & Service Inc. recently acquired Lincoln, Neb.-based T.O. Haas Tire Co., which has 25 retail locations throughout Nebraska, Kansas and Iowa.

Pirelli & Cie SpA has extended its research partnership with Milan Polytechnic and Polytechnic Foundation in Italy for another three years.

Industry vet Jordan dies

Joe Jordan, who worked for Toyo Tire U.S.A. Corp. and Yokohama Tire Corp. before starting his own tire dealership, San Diego, Calif.-based The Wheel Store, recently died. Jordan, who was 55 years old, also worked for Dealer Tire LLC from 2016 through 2018.

Mickey Thompson adds sizes

Goodyear Tire & Rubber Co.’s Mickey Thompson Tires & Wheels unit is adding 15 sizes to the Mickey Thompson Baja Boss A/T line. New sizes will fit wheels ranging from 15 inches to 22 inches in diameter. Several tire dealerships closed 2021 by buying and selling businesses.

Collectively, the biggest moves were made by Sun Auto Tire & Service Inc., which in November announced its biggest purchase yet — Plaza Tire Service Inc., a 70-store chain with outlets in Missouri, Arkansas, Illinois and Kentucky.

And the Tucson, Ariz.-based company has added more locations in other markets where it has not enjoyed a presence before. Sun Auto Tire has acquired Delta World Tire, which is based in New Orleans, La., and has 17 stores in Louisiana and Mississippi. The acquisition marks Sun Auto Tire’s entry into those states.

On the West Coast, Sun Auto Tire has added eight stores in northern California with the purchase of Bruce’s Tire & Auto Service.

Back in the middle of the country, Sun Auto Tire has bought T.O. Haas Tire Co., a 25-store business with retail locations throughout Nebraska, Kansas and Iowa.

In all, Sun Auto Tire added 180 locations and entered 12 new states during 2021. But others are making moves, too.

Mavis Tire Express Services Corp. has acquired Tuffy Tire & Auto Service Centers, a business with both corporate-owned and franchise locations across the U.S.

The addition of 165 Tuffy stores to the Mavis portfolio gives the chain more than 1,200 automotive locations throughout 35 states. For a full list of tire dealership acquisitions during 2021, see page 56 of our Facts Section. ■

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