Top 5 Must-Know Tire News of 2023: Don’t Miss These Essential Recap –> In a year marked by pivotal changes and unexpected developments, the tire industry of 2023 has seen significant shifts that impact consumers and businesses alike. From fluctuations in demand to major investments by leading manufacturers, staying informed about these developments is crucial. This article brings you the top five tire news stories of 2023 that you simply can’t afford to overlook. Whether you’re an industry professional, a car enthusiast, or just a consumer looking to stay updated, these highlights provide a comprehensive snapshot of the tire industry’s current landscape.
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Top 5 Must-Know Tire News of 2023
1. New Euro 7 regulation
The new Euro 7 regulation, adopted by the European Parliament, is set to significantly impact the tire industry. It aims to reduce emissions from road transport, imposing stricter exhaust emission limits and introducing measures to curb emissions from tires and brakes. With its implementation for Light Duty Vehicles on July 1, 2025, Heavy Duty Vehicles on July 1, 2027, and Small and Ultra Small Volume Manufacturers from July 1, 2030, a notable shift is underway. Tire abrasion will become a key metric, as manufacturers must adapt to these environmental standards, focusing more on reducing tire wear and its impact on emissions.
2.Tire Industry’s Recovery
In 2022, leading tire manufacturers Michelin and Bridgestone experienced a significant recovery, surpassing their pre-COVID revenue levels. Michelin achieved a revenue of €28,018 million, ranking first, while Bridgestone followed closely with €27,029 million. This marks a notable rebound from 2019, where Bridgestone led with €24,218 million and Michelin followed with €23,652 million. This recovery highlights the resilience and growth of the top players in the tire industry post-pandemic.
3. The Dominance of Continental SportContact 7
The third major news in the tire industry for 2023 is the dominance of the Continental SportContact 7 in the Ultra-Ultra High Performance (UUHP) tire segment. Launched in 2022, this tire has been praised for its exceptional grip and performance in both wet and dry conditions. It stands out for its adaptive tread pattern, soft BlackChili compound, and tailor-made construction for various vehicle classes. In competitive tests, the SportContact 7 emerged victorious in 7 out of 9 contests, cementing its status as a top choice for driving enthusiasts and professionals seeking superior tire performance.
4. Kumho caught cheating
In the 2023 Sport Auto Winter Tire Test, the Kumho WinterCraft WP 52 was initially part of the lineup but was later disqualified. Although the tires showed good performance in wet conditions and short braking distances on dry surfaces, they underperformed in snow, lacking grip and steering precision. The disqualification was due to significant differences between the test tires and those available for purchase, with the latter showing deficiencies not observed in the test versions. This discrepancy led to the tire’s removal from the test results.
5 Goodyear planning to say goodbye to Dunlop
In a strategic shift, Goodyear is considering the sale of its Dunlop tire brand as part of a broader overhaul aiming to raise over $2 billion. This decision marks a significant turn since Goodyear first acquired Dunlop in 1999, a move that expanded its global footprint. Facing challenging times, Goodyear’s plan, termed “Goodyear Forward,” seeks to streamline its portfolio, cut costs, and optimize operations amidst the evolving automotive landscape and competitive pressures, including the shift to electric vehicles and rising costs post-COVID-19. This move reflects the company’s effort to adapt and strengthen its position in a rapidly changing industry.
Summary
In 2023, the tire industry witnessed significant developments, including the revised Euro 7 regulations impacting tire manufacturers, the remarkable recovery of Michelin and Bridgestone to pre-pandemic revenue levels, the Continental SportContact 7’s dominance in the UUHP segment, Kumho’s disqualification from the Sport Auto Winter Tire Test for inconsistencies, and Goodyear’s consideration to sell its Dunlop brand amidst strategic overhauls. Looking ahead to 2024, the tire industry is poised to continue adapting to regulatory changes, embracing technological innovations, and responding to market dynamics influenced by the ongoing shift towards electric vehicles and sustainability. These factors will likely shape the industry’s future, driving further evolution in tire design, performance, and environmental impact.