News

Goodyear posts opening quarter loss

Goodyear, despite posting record sales for the opening quarter of 2012, has recording an overall Q1 loss.

Comparing the same market period from 2011, Goodyear’s sales were US$5.5 billion, around 2% up from the 2011-quarter. However, total unit sales were 8% down to around 43 million units.

Goodyear states that this is indicative of a weak industry demand in many markets, and mirrors figures for 2010.

“I'm pleased with our results as our businesses posted solid operating income," said Richard J. Kramer, chairman and chief executive officer. "Our teams delivered these results in the face of a difficult volume environment and high raw material costs, with a strong focus on price/mix.

"Our first quarter results demonstrated a consistent focus on our global Strategy Roadmap," Kramer added. "We have positive momentum and I remain confident that we will reach our 2013 targets."

As a result of the continuing global economic weaknesses, Goodyear has reforecast its long-term growth, stating that it expects it to continue, but at ‘a slower pace than previously thought’. Goodyear state that its 2012 tire unit sales to be around 2% below that of 2011.

 


Read Latest Issue

Read Latest Issue

Read Latest Issue

Web Exclusives

Tire modeling in the simulator
A new software application from simulator supplier Cruden improves the feeling of road surface to tire interaction
Read Now

Nanogenerator harvests energy from rolling tires
A new nanogenerator that harvests power from rolling tires has been developed at the University of Wisconsin-Madison, USA
Read Now

Development of the iFlex
Testing for Hankook's non-pneumatic tire was conducted at its G’Trac proving ground in Korea using a Kia Ray electric vehicle
Read Now

Coda develops its self-inflating tire technology
Coda Development has undertaken testing of its self-inflating tire (SIT) technology and has developed a retrofit and a retread SIT
Read Now

Solvay expands in Poland
To better serve its customers in the region, Solvay has opened a new factory in Włocławek, Poland, which houses energy-saving production equipment  
Read Now


Supplier Spotlight

Supplier SpotlightWe are building a list of leading suppliers covering all aspects of the tire industry. Want to see your company included? Contact matthew.jordan@ukipme.com for more details.

Submit your industry opinion

Industry BlogDo you have an opinion you'd like to share with the tire technology community? We'd like to hear your views and opinions on the leading issues shaping the industry. Share your comments by sending up to 500 words to rachel.evans@ukipme.com

Submit Your Recruitment Ad

Recruitment AdTo send us your recruitment advertising or to receive information on placing a banner please email matthew.jordan@ukipme.com