On 13 March 2020, the European Tyre and Rubber Manufacturers Association (ETRMA) have welcomed revisions to the Tyre Labelling Regulation. The regulation, which the European Parliament approved to increase consumer awareness on fuel savings, improve safety, and decrease noise pollution.
On 26 March 2020, the US Tire Manufacturers Association (USTMA) urged congressional leadership to enact policies that offer economic relief to automotive tyre manufacturers and their workers – as well as the overall economy – during the COVID-19 pandemic. Moreover, imposing legislation to deliver instant relief to employees dealing with disturbances caused by the virus and provide tax credits benefits for employers who offer workers these direct benefits.
In conclusion
There are some common threats for all the companies that produce car tyres and contribute actively to the industry's growth at the global level. However, the most important ones have been observed for the raw material prices that are in a continuous expansion, for the strong competitors coming from Asian countries, and as well as for the medical factors that can affect the industry by closing the factories (e.g., COVID-19 virus).
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The global tyre industry is permanently developing, with noticeable growth in recent years. The predictions for the tyre industry are that it will increase in the next years, having as determinants the automotive industry's evolution and building new cars and opening new markets in the Asian countries, such as China. There are a need and demand for manufacturing new electric vehicles in the global automotive industry that will increase this industry, coming demand for automotive tyres from originally equipped manufacturing (OEM).