Founded in 1898 by Frank Seiberling, The Goodyear Tire & Rubber Company is an American multinational tyre manufacturing company based in Akron, Ohio. It is one of the oldest, biggest and best-known tyremakers in the world. Goodyear makes tyres for automobiles, commercial trucks, light trucks, motorcycles, SUVs, racing cars, aeroplanes, farm equipment and heavy earth-mover machinery. Find all the news and analysis you need relating to Goodyear here.
The Goodyear Tire & Rubber Company is 125 years old today, and although this quasquicentennial anniversary year hasn’t been without turbulence, the tyre maker is looking back on a century and a quarter of rich history. It all began for Goodyear on 29 August 1898, with the first tyres coming several months later.
The 125-year history of The Goodyear Tire & Rubber Company is the subject of a new documentary on the company, now available on the company’s YouTube channel. The 60-minute feature explores the company’s foundation and the entrepreneurial spirit of Frank Seiberling and Charles Goodyear, through to the company’s most recent innovations. The manufacturer says the video is a chance to witness how Goodyear became one of the world’s “most respected and innovative technology company,” via a series of milestone innovations, motorsport excellence, its contribution to aviation in the form of the Goodyear Blimp, and more. Watch the video now on Tyrepress.
Goodyear is showcasing its premium OTR tyres and solutions for construction and industrial machinery at steinexpo 2023 (23-26 August in Homberg, Germany). Goodyear will showcase its Powerload, GP-3E, Omnitrac Heavy Duty, and TL-4A OTR tyres, alongside its TPMS Heavy Duty solution on stand (B81) in the open-air area of the fair. “We offer a large portfolio of high-performance tyres for industrial and construction machinery. For us, steinexpo is the perfect opportunity to present a selection of our OTR tyre segment and to enter into a valuable personal exchange directly with our customers,” says Octavian Velcan, managing director OTR & Aviation EMEA at Goodyear.
Goodyear will celebrate its rich history in motorsport and transportation with historic branding at the British Touring Car Championship this weekend at Donington Park. The tyre manufacturer and supplier says the historic circuit, which first hosted a motorsport event in 1931, is a fitting venue to host one of several Goodyear 125th anniversary celebrations around the world.
Darkness descended upon The Goodyear Tire & Rubber Company’s former headquarters almost a decade ago. At any rate the illuminated sign atop the building ceased functioning, and this is something that Goodyear and a partner have rectified in the runup to the tyre maker’s 125 anniversary.
Goodyear has joined forces with German automotive brand Opel to develop a custom tyre for the Opel Experimental concept car. The tyre maker says the unique features of its creation, including a custom sidewall, tread design, and compound, “seamlessly complement the striking aesthetics of the Opel Experimental concept, highlighting Goodyear’s dedication to delivering unforgettable design alongside this esteemed OEM.”
Two Goodyear associates based in Luxembourg have been killed in a vehicle incident at the Nürburgring on 9 August. Tyrepress understands from test industry sources that 39-year-old driver Christian Franck, a popular member of the tyre testing community and title-winning motorsport driver from Luxembourg, is one of the deceased. Goodyear told Tyrepress that it is assisting local authorities with their investigation into the incident. Goodyear representatives added that the company is “deeply saddened” that its associates had lost their lives and that its “immediate concern” is for the family, friends, and colleagues of its associates.
TireHub is now five years old and says it is looking forward to future growth. The US-based national tyre distributor, which was co-founded by Bridgestone & Goodyear, now operates 80 TireHub Logistics Centers and will add more to the network in the coming months, and TireHub also plans to open its first regional distribution centre later this year.
Stellantis has selected a range of Goodyear tyres as original equipment fitments for the European Car of the Year 2023. The Jeep Avenger, which debuted in June 2023, comes from the factory with tyres from Goodyear’s summer and all-season ranges.
The Goodyear Tire & Rubber Company’s fell share price fell 20 per cent when markets opened on 3 August 2023. The sharp fall to around $12.30 represents the lowest point since investor Elliott called for largescale strategic and board composition changes on 11 May 2023. At the time of going to press, Goodyear’s share price was showing signs of recovery and trading at around $13.15.
Today isn’t 1 April and no legs were pulled during the writing of the above headline. Swiss motoring magazine auto-illustrierte has published a tyre test – and every single protagonist is a Goodyear tyre. Who stood where on the podium is nonetheless interesting.
The Goodyear Tire & Rubber Company has reported a second quarter 2023 net loss of $208 million compared to net income of $166 million a year ago. According to executives, the sharp drop was primarily due to lower sales volume and higher “other expense”, driven by lower net gains on asset sales and higher pension costs.
Goodyear lost $19 million in the EMEA region in the second quarter of 2023, with segment operating income down $71 million or 136.5 per cent compared with the $52 million operating income achieved at the same point in 2022.
Cooper Tires has entered into partnerships in the United Kingdom with Wiltshire Air Ambulance and Woodhead Mountain Rescue Team in Yorkshire. Each provides first-response assistance, and Cooper says it is supplying tyres to these organisations to fit vehicles such as the Volvo XC90, BMW X5 or Land Rover Discovery 5 to provide the grip, versatility and durability needed.
The open letter that Elliott Investment Management L.P. sent to The Goodyear Tire & Rubber Company on 11 May 2023 was met with a promise to review the shareholder’s recommendations, which included the initiation of an operational review and the appointment of “five new highly qualified independent directors.” While Goodyear hasn’t met this wish list in its entirety, today the company announced three additions to its Board of Directors in connection with a cooperation agreement with Elliott.
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