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Evaluation by Federpneus Board of Directors

The Board of Directors met on 6 April  to evaluate the market trend for the first few months of 2011. In general, but particularly in areas where there is a strong demand for winter tyres, business tends to be seasonal with periods when it is difficult to meet customer demands alternating with slack periods. This situation makes the correct use of the workforce more difficult.
For cars, a positive trend in the latter part of last year was followed by a more stable trend during the first three months of this year, with different situations in the various areas which also depended on the incidence of winter tyres. Where the change to winter tyres in the preceding months was major, there is a longer period of time before seasonal changes are made. Growth continues for SUVs and 4x4s. The trend is good also for light transport, but trucks still feel the effects of the recession. The building sector is still at a  standstill; the line is livelier even if users are having to cope with a strong lack of liquidity.
The Board also analyzed the trend for raw materials and the upswing in prices that in some cases practically doubled costs in twelve months. Even if raw materials are only one of the components in the prices of tyres, this situation led to strong increases. These were also due to strong demand from countries like China, India and Brazil, which in some cases also led to a shortage of products. The situation seems to be far from coming to an end and a reversal of the trend is not foreseen in the short term.
The Board analyzed other subjects of considerable interest such as the management of unusable tyres and the implementation of art. 228 of the Environmental Code. Lastly, the Board called the statuary meeting which will be held in Bologna, Wednesday, 6 July.

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