“Michelin is a perfect fit for Midas,” said Bill Birkins, Senior Vice President of Franchise Leadership for TBC Corporation. “Midas is one of the most powerful and iconic brands in auto service and Michelin one of the premium tire brands. Together, we deliver a compelling package that the research reveals customers want – quality, name-brand tires from a well-known car-care provider that they trust.”
"Midas has been a trusted service provider for 60 years, and we are very excited to begin offering our tire lines to their customers,” said Scott Clark, Chief Operating Officer of Michelin North America.
Since joining TBC in spring 2012, Midas has driven significant tire sales increases. When related services such as rotations are factored in, Midas shops today rack up as much revenue through tires as they do from exhaust, the service with which many people associate the brand. Building on these gains, plans are underway to accelerate Midas’ tire-service expansion significantly in the next two years, with upgrades in distribution, computer support, shop signage and more. “We are hopeful that the increased emphasis on tires will transform Midas over the next two years and position us for more cars, customers, sales and profits,” said Mike Gould, Executive Vice President & Chief Operating Officer for Midas.
Adding famous tire brands to Midas’ menu is a significant step in making this happen. As reported in the 2016 Market Facts published by Tire Business, Michelin and Goodyear-manufactured tires represent 53 percent of tires that go on new cars; and many consumers automatically choose them when the time comes to shop for replacements. Michelin and BFGoodrich account for 15 percent of replacement tires purchased for passenger vehicles each year and 17 percent of light trucks.*
“The big brands matter to consumers, and Midas has them,” said Birkins. “We are building the capabilities to be a world-class tire marketer and a significant player in the business, offering customers competitive prices, convenient locations, and the quality brands they want.”
In addition to expanding its service offering with tires, Midas is focusing on expanding its retail footprint and in the most recent fiscal year opened 22 new franchised locations.