Sunday, March 16, 2025

136-year-old car company sold for 5 billion kroner

After many years of disagreements in a joint venture, the 136-year-old tire company Dunlop has sold Japan's Sumitomo Rubber. The deal is worth DKK 5 billion.

After a long period of disagreement, the tire brand Dunlop has been sold to the Japanese company Sumitomo Rubber Industries.

Goodyear, which previously owned Dunlop, has reached an agreement to sell the brand for $701 million. The sale includes Dunlop's brands in Europe, North America and Oceania.

Reuters writes.

The agreement does not mean a complete farewell to Dunlop for Goodyear, however. The company will continue to sell Dunlop tires for passenger cars in Europe until at least December 31, 2025. During that period, a license for the use of the name will be paid to Sumitomo Rubber.

In addition, Goodyear will supply Dunlop tires to Sumitomo in Europe for the next five years.

Goodyear has also secured the rights to use the Dunlop trademark for truck tires in Europe in the long term. Here too, a license fee per tire will be charged.

The sale of Dunlop is part of Goodyear's strategy to streamline the business and reduce costs.

In 2023, Goodyear announced plans to significantly reduce its business areas, including the sale of Dunlop, Off-the-Road and the chemicals division. The goal was to raise more than $2 billion (equivalent to just under 14.5 billion Danish kroner) in divestments.

As part of the weight loss program, Goodyear sold its Off-the-Road tire business to Japanese company Yokohama Rubber for $905 million last year.

Tire manufacturers have experienced increased pressure from cheaper Chinese competitors in recent years and are facing increasing demands from authorities to reduce pollution.

Among other things, the EU has made particle pollution from tires part of the otherwise dilutive Euro 7 standard for passenger cars. Read more about it here .

Latest

Don't miss

FDM calls tax on drivers illegal

In many places, parking companies have started sending parking...

Shocking news: Car director wants to fire himself

He has been at the helm of Nissan since...

Recalling 68,000 cars – the oil makes Peugeot flammable

The car group Stellantis, which owns the Peugeot brand,...

Car owner in shock lost DKK 110,000 on Volvo before delivery

A Volvo XC60 owner is now saying he lost...

Danes don't bother driving Tesla – blame Musk

Danish company car drivers no longer bother to drive...
Boosted Magazine
Boosted Magazine
Boosted in Denmark has over a million unique users, surpassing two million sessions, and accumulating over seven million page views each month, and our platforms has become a hub for automotive enthusiasts. Now you can enjoy our content in English too! Enjoy our free car news - every day. Want to talk to us? Write an email to boosted@boostedmagazine.com
spot_img

Volkswagen pays fired director over 80 million a year

When Herbert Diess stepped down from the CEO position at Volkswagen in 2022, it wasn't without compensation. In fact, VW still pays him more...

Clarkson, Hammond and May return on Amazon Prime

With a new program titled 'The not so great tour', the host trio Clarkson, Hammond and May return to Amazon Prime, which they otherwise...

Oil giant regrets – more oil, less renewable energy

Oil giant BP will reduce its investments in renewable energy. The money - 30 billion Danish kroner - will instead be used to extract...

Tesla will build Model Y 20 percent cheaper

Costs must be cut so much that Tesla can build a smaller version of the Model Y 20 percent cheaper than now, insider sources...

Skoda is now the West's most profitable car brand

There is no car brand in the West that makes more money than Skoda. At least not per car, if you ask the management....

US begins to undo car emissions rules

The US Environmental Protection Agency is now starting to loosen emissions requirements for gasoline and diesel cars. Before he re-entered the Oval Office of...

City bans 15-year-old gasoline cars from refueling

The Indian city of New Delhi wants to eliminate gasoline cars. From April 1 this year, it will be forbidden to refuel cars that...

New V12 diesel engine has 1,300 horsepower

The German machinery manufacturer Liebherr is now ready with a new 12-cylinder, 27-liter diesel engine with a whopping 1,300 horsepower. German manufacturer Liebherr has...

Bill would ban police speeding ticket quotas

In the US state of Ohio, people have had enough. At least of the police and their pursuit of drivers to meet speeding ticket...

Car owner in shock lost DKK 110,000 on Volvo before delivery

A Volvo XC60 owner is now saying he lost 110,000 kroner on a brand new car while it was still at the dealer. Volvo...

Giant gives up – drops car division

Tire giant Continental is preparing to spin off its billion-dollar automotive division into an independent company. The maneuver will cost a fortune in subsidies...

Mercedes boss gets monster salary despite crisis

Mercedes' Swedish-German CEO Ola Källenius earned more than a quarter of a million kroner a day in 2024, even though the brand is in...