Apollo Tyres reported a robust surge in net profit for the quarter ending on June 30, 2023, driven by steady raw material prices and the higher-margin products in the Indian market. The company’s net profit soared by approximately 125 percent, reaching INR 3.97 billion compared to INR 1.77 billion in the previous fiscal year.

The raw material cost for Q1FY24 stood at INR 28.77 billion from INR 34.05 billion in Q1FY23.

In a challenging business landscape, Apollo Tyres’ European Operations outperformed the market, resulting in a notable five percent rise in revenue for the first quarter of FY24, amounting to INR 62.45 billion, up from INR 59.42 billion in Q1FY23. Moreover, the company’s operating profit saw a substantial increase of 52 percent, reaching INR 10.51 billion in Q1FY24, as opposed to INR 6.90 billion in Q1FY23. 

“My compliments to the team in Europe for outperforming the market, despite the ongoing challenges. In India, we have done well in the key replacement market segment while focusing on enriching our product and market mix for better profitability from a long-term perspective. This, along with stable input costs, has resulted in better margins in the past quarter,” said Onkar Kanwar, Chairman of Apollo Tyres Ltd.

Goodyear Tire & Rubber Company has finalised the sale of its Dunlop brand rights across Europe, North America and Oceania to Sumitomo Rubber Industries for USD 735 million, the American tyre manufacturer said.

The transaction, which became effective on May 7, includes consumer and commercial tyre rights, alongside certain intellectual property and inventory assets.

The deal forms part of Goodyear's ongoing transformation strategy, which executives have dubbed "Goodyear Forward", aimed at streamlining operations and reducing the company's debt burden.

"The sale of the Dunlop brand is another action that advances Goodyear Forward by optimizing our portfolio, reducing leverage and sharpening our focus on our core portfolio of brands," said Goodyear Chief Executive Officer and President Mark Stewart.

"Goodyear is making significant progress, transforming our operations and growing in our targeted segments, and I am confident in our ability to continue delivering on our objectives," he added.

The transaction's gross proceeds comprise USD 526 million for the Dunlop brand rights, USD 105 million for transition support and USD 104 million for inventory.

Goodyear said it intends to use the proceeds to reduce its debt as part of its broader transformation plan.

Goldman Sachs served as lead financial adviser on the deal, with Barclays Capital and law firm Cleary Gottlieb Steen & Hamilton also advising Goodyear.

THE TIRE COLOGNE (TTC) 2026 is adopting a new WALK OF SERVICES format that will focus not just on products but on solutions for the economic and organisational sustainability of the tyre industry. The event is scheduled to be held from 9 to 11 June 2026.

The WALK OF SERVICES addresses the dynamic change currently experienced by the tyre industry. Today, having the proper workshop equipment, specialised software architecture, good technical experience and long-term staff engagement and retention tactics are essential for surviving in a market that is becoming more and more complicated. By strategically connecting the pertinent partners, information and solutions in branded areas across the trade show, THE TIRE COLOGNE will provide visitors additional value through the WALK OF SERVICES.

Clear visitor instructions, exhibitor booths with a theme, live demonstrations and a diverse programme on the Service Stage all contribute to the WALK OF SERVICES' content-driven narrative. Employees, system and process solutions, workshop technology and tyre service, vehicle services and disposal and sustainability are the five topics covered by the WALK OF SERVICES. Additionally, the model gives exhibitors access to new prospects. They gain from more visibility, a tailored strategy for their target audiences and a pertinent content foundation for excellent conversations. This new format's emphasis on services shows a strong commitment to the trade show's continued growth.

Michelin, the world's foremost pioneer in tyre technology, has opened its first Michelin Tyres & Services shop in Lucknow, Uttar Pradesh, in collaboration with Tyre On Wheels, a top auto tyre dealer. Michelin India's emphasis on solid local connections is reflected in the new shop.

Tyre On Wheels offers a wide selection of Michelin tyres for high-end automobiles together with top-notch tools for tyre fitting, alignment and balancing. This alliance is well-positioned to meet changing consumer expectations given the continuous increase in private car ownership and the need for dependable after-sales servicing in Lucknow. Additionally, it backs Michelin India's continuous initiatives to grow its network of upscale stores and offer clients professional advice, high-quality goods and an exceptional level of customer service.

Tyre On Wheels has established itself as a reliable presence in Lucknow's automobile servicing industry by leveraging its 65 years of experience and three-generational heritage. In the city, Tyre On Wheels has two locations: one in Ashiyana Chauraha and one in Gomtinagar. The dealership, which is well-known for its knowledgeable advice, affordable prices and trustworthy after-sales support, provides a variety of services, such as alloy wheels, wheel alignment, balancing, nitrogen filling and tyre sales.

Shantanu Deshpande, Managing Director, Michelin India, said, “We are pleased to expand Michelin’s presence to Lucknow, a city that blends cultural heritage with rapid infrastructural growth. Our partnership with Tyre On Wheels reflects a shared commitment to quality, customer care and trust, values deeply embedded in both their legacy and Michelin’s brand ethos. As we continue to grow our footprint across India, this launch reinforces our commitment to bringing innovative tyre solutions and superior service experiences to emerging cities with growing mobility needs.”

Eighty-two percent of drivers in Canada want to take a day or overnight trip this summer, according to a recent Probe Research survey for the Tire and Rubber Association of Canada (TRAC). However, a majority of drivers are opting to remain in Canada rather than travel to the United States, highlights the survey.

The results of the study, which measures interest in road trips across borders and within provinces, show that only eight percent of Canadians currently have plans to cross the border, and 88 percent of them would prefer to travel inside Canada rather than travel to the United States. This year, 51 percent of drivers cancelled their scheduled road excursions to the United States. In Canada, 28 percent of respondents will drive to another region of the nation, while 69 percent want to travel by car inside their province.

The poll also brought to light the discrepancy between drivers' behaviour and their understanding of the significance of tyre care. Given the present financial strains, the majority of Canadian drivers (89 percent) concur that appropriate tyre inflation and maintenance are more advantageous than ever since they boost tyre longevity and improve fuel efficiency.

Carol Hochu, CEO, TRAC, said, “Our findings reveal that Canadian drivers need more education about how to do tyre maintenance right. This is especially true among younger drivers, who may be taking a road trip for the first time this summer. Proper tyre inflation and maintenance aren’t just safety measures – they’re economic ones. Improper tyre inflation – both underinflation and overinflation – increases fuel consumption, shortens tyre lifespan, and even increases the risk of tyre failure on poorly maintained tyres during long road trips. So, while Canadians are staying on Canadian roads this summer, they should check their tyres before embarking on a road trip adventure. It’s simple, easy, and helps keep drivers safe.”