27 April 2012 19:13 [Source: ICIS news]
HOUSTON (ICIS)--Goodyear expects its 2012 tyre unit volumes to decline 2% from 2011 while its raw material costs will likely rise by an estimated 9%, the US-based international tyre major said on Friday.
Goodyear said that weaker-than-expected first-quarter volumes – down 8% year on year to 43m units - prompted it to revise its outlook.
In its previous outlook for 2012, from February, Goodyear had forecast that volumes would remain essentially unchanged from 2011.
Goodyear also said that 2012 second-quarter raw material costs would likely increase by about 12% year on year from the same period last year.
Full-year 2012 raw material costs are now expected to rise by 9%, up from the 5% increase Goodyear had forecast in the previous outlook.
The company is a large consumer of styrene butadiene rubber (SBR) and other chemical products.
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