Goodyear sold 600,000 fewer tyres in North America in 2Q

30 July 2013 15:34  [Source: ICIS news]

HOUSTON (ICIS)--Goodyear reported Tuesday what every butadiene (BD) and styrene-butadiene-rubber (SBR) buyer and seller has known for the past six months: The replacement tyre business is down sharply and it is not expected to improve significantly in 2013.

The Akron, Ohio, tyre maker reported second-quarter earnings Tuesday and in its press release said it sold 600,000 fewer tyres in North America in the second quarter, which represents a 3.8% decline from a year ago. For the first six months of the year, Goodyear said it sold 1.6m, or 4.9%, fewer tyres in the region.

Goodyear said sales of replacement tyres, which are most important to the petrochemical industry because they account for about 80% of overall tyre sales, in North America were down 5% in the second quarter "reflecting weaker industry demand and decreased sales of lower-value consumer tires".

In other regions, Goodyear said Q2 replacement-tyre sales in Europe were up by 1% from a year ago, in Latin America they rose by 9%, and in Asia-Pacific replacement-tyre sales were 6% better than a year ago.

Goodyear said its full-year 2013 outlook continues to be that sales will be at 2012 levels.

“We anticipate volume growth in the second half of 2013 compared to last year, with a 3 percent to 5 percent increase in the third quarter driven by continued improvement in emerging markets and slow but steady recovery in mature markets,” Goodyear CEO Richard Kramer said.  

Goodyear reported Q2 net income of $181m (€136m), or 67 cents/share, compared with $85m, or 33 cents/share a year ago.

($1 = €0.75)

By: Mark Yost
+1 713 525 2653

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