Kumho tires a possible Bridgestone replacement
November 4, 2009 by SJ Skid
Filed under Prime & Option, SJ Skid
In my search for reactions to the big Bridgestone announcement — reactions that still are not forthcoming — I found a piece in the Ireland-based Independent.
Along with calling the tire manufacturer’s exit “the first major crisis” for Jean Todt (add to it Toyota’s exit), the paper also suggests that South Korean tire maker Kumho could fill the gap, given South Korea’s addition to the calendar.
It makes sense, and it also reaffirms that Bridgestone’s leadership probably was disillusioned with the lack of an American stop on the F1 season.
Here are a few highlights:
THE new FIA president, Jean Todt, faced the first major crisis of his tenure when Bridgestone said yesterday it will be withdrawing as the official tyre supplier for Formula One when its contract runs out at the end of 2010.
[snip]
After embarrassment at Indianapolis in 2006, Michelin is unlikely to return, nor is Goodyear, but with South Korea joining the F1 calendar in 2010 it is possible that the Korean manufacturer Kuomo may step up.
With the addition of the Malaysian-backed Lotus F1 team and the coming South Korean stop, it feels like Formula 1 is firming itself up in a new area. Abu Dhabi showcased F1’s “last new” frontier of the Middle East, and while the sport has been in Singapore already, what I’m thinking about it the business phenomena of “bunching.” In short, that’s when like businesses all exist near each other. It’s what explains why a new fast-food joint will go in next door to an existing one rather than stake out a new area. People already are conditioned to go to that area to get their burgers and fries, so why fight it?
Alternatively, it seems like Bernie is strategically building outposts throughout the world that is diluting the “base” of Europe. This makes business sense as one wants to strategically grow in areas where there already is the infrastructure, so to speak, to support the business.
In F1 terms, that is the fan base, but more importantly the supplier/sponsor/money base that will support a race (or two, or three).
Bernie has that, increasingly, in the Middle East. He may be getting it in Southeast Asia.
Of course, as a result, he may be losing it in America.
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at least get the tire mfg name right.
Does Kumho have ANY involvement in a single-seat formula series? I know they have a significant sportscar program, but I’d be stunned if they came to F1. Pirelli seems like it would be the most likely candidate.
I think they work in the Formula 3 Euroseries. But otherwise…
Let’s not forget that Bridgestone is headquartered in Japan. So their departure does not in any way contribute to the erosion of F1’s European roots.
For years Kumho has been figuring out how to enter the elite level of open wheel racing. I’m not saying they are a lock to enter F1, but it does make sense.
Their performance tires have gotten many good reviews by racing types. Kumho appears to be trying to improve their reputation among performance and racing enthusiasts and becoming the tire supplier to F1 would certainly go a long way to raising the company’s image. From a corporate point of view, participating in F1 could prove to be very lucrative for Kumho.
Interesting…. I also am tempted to say it won’t be a huge leap when F1 is located in the Middle East and Southeast Asia, only. With 1 “flyaway” to Monaco. :)