Roney Announces Higher Prices in Europe

Goodyear’s European president Michael Roney has announced price increases and further cost cutting measure designed to tackle increasing raw material prices. Speaking to German daily newspaper, Die Welt, Mr Roney said that the American tyre giant is bound to grow in the European market, where it turned over 4.3 billion euros last year. There is still a major potential for sales in Europe, the newspaper quotes Mr Roney as saying.

On the US market there are many cheap tyre brands competing with premium products, whereas in Europe this is different, Goodyear’s European president continued: “The Europeans really focus on premium brand tyres and have strong bonds with these.” In addition, it is American customers that prefer all-season tyres when in Europe seasonal tyre business is very strong.