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.
A “significant investment” is supporting HiQ Tyres & Autocare’s efforts to enhance the standards programme across its UK network. This initiative focuses upon delivering consistent, industry-leading standards throughout its centres and will see consultants evaluating over 200 parameters, encompassing store aesthetics, customer service, and range of capabilities.
Following reports that Yokohama is in “advanced talks” with Goodyear regarding the purchase of Goodyear’s OTR tyre business, Yokohama officials have released an official statement confirming that the Japanese company is interested in Goodyear OTR.
Yokohama Rubber Co. is reportedly in “advanced talks” to buy Goodyear’s OTR tyre business. And what’s more, the Japanese tyremaker is said to be willing to pay “at least $1 billion”, according to Bloomberg reports which cite “people familiar with the matter”. The latest news confirms reports Tyres & Accessories obtained a month ago which suggested that four suitors had been particularly interested in the purchase.
Following a successful inaugural event in 2023, on 4 July the Transaid Cup took place once again. Goodyear and Michelin were amongst the 12 protagonists to field teams, with a total of 15 seven-aside squads taking to the pitch at the Ilkeston Town Football Club home ground.
In its 2024 summer tyre test, the German motoring association ADAC examined only one product size rather than the usual two, focusing on just a single dimension so that testing capacity was available to address increasing demand within the all-season tyre segment. The ADAC test team looked at 16 all-season tyres in the popular 205/55 R16 size. For the first time in its years of all-season tyre testing, the motoring club awarded one product – its test winner – a ‘good’ rating. It declared a further six tyres to be ‘satisfactory’, seven ‘adequate’, and found two to be ‘insufficient’.
Goodyear has gained two awards at the Asia Responsible Enterprise Awards (AREA) ceremony, held on 28 June 2024 in Ho Chi Minh City, Vietnam. The awards recognise the company’s commitment to sustainable and responsible business practices.
Goodyear has unveiled plans to extend its UltraGrip Performance 3 winter range throughout 2024. During the year, the tyre maker will introduce more than 40 new SKUs to the market. Many of these additions are already available, and Goodyear says this significant expansion will not only enhance its market presence in the winter tyre segment but also reflects its focus upon the segment.
Our latest “world’s largest tyremakers” data based on the key figures for the 2023 financial year sheds light on several developments that have recently characterised the tyre market. On the one hand, there is the development of sales, which have at best moved sideways for many manufacturers compared to 2022. On the other hand, there is also the development in terms of ranking: here it is clear that companies from China are increasingly operating on an equal footing with the long-established manufacturers from Europe, America and Japan and now even have a new number 10 in the race with the Sailun Group. However, it is also clear that our ranking shows a stable “balance of power” overall.
Michelin is leading the pack when it comes to share price performance amongst the top five tyremakers in the past year. Indeed, while other tyremakers have been experiencing falling stock prices, Compagnie Générale des Établissements Michelin recently passed above its two hundred day moving average. But when you compare the one-year share price performance of Michelin, Bridgestone, Goodyear, Continental and Pirelli, Michelin is the clear leader.
While other tyremakers have been experiencing falling stock prices, Compagnie Générale des Établissements Michelin recently passed above its two hundred day moving average. On Monday 17 June, the stock surpassed its two hundred day moving average of €33.99 ($36.55) and traded as high as €38.04 ($40.90).
Goodyear Tire & Rubber Company shares fell to a 52-week low during trading on Tuesday 18 June 2024. Specifically, the stock price fell as low as $11.24 having previously closed at $11.53. However, there is also evidence that institutional investors are increasingly interested in the tyremaker’s shares.
Goodyear ran its largest ever 24 Hours of Le Mans operation to demonstrate the long-distance performance of both its slick and wet tyres in the 2024 edition of the iconic endurance race. Mixed conditions throughout the race set the stage for a strategic battle in both the LMP2 and new LMGT3 classes. Goodyear supplied tyres for 39 cars across two classes, almost two-thirds of the entire grid at Le Mans, using 7,500 tyres, serviced by expert tyre fitters working in shifts throughout the race to remove, inspect and replace a set of tyres in as little as three minutes. In the pit lane, a crew of 18 track support engineers worked directly with each team throughout the race to advise on setup and strategy.
Goodyear will exhibit its new Goodyear GP-4D Gen II alongside its range of OTR tyre products, services and solutions at Hillhead 2024 (25-27 June, Stand U13). The new 750/65R25 Goodyear GP-4D Gen II tyre at the show targets articulated dump trucks with an optimised tread design, multiple steel belt carcass construction, and a tread compound. These features add up to benefits such as versatile tread pattern for balanced performance, improved treadwear as well as high level of comfort for the operator.
The latest Brand Finance data shows that Michelin is “the world’s most valuable and strongest tyre brand” followed by Bridgestone in second and with Continental rounding off the podium. However, Far Eastern brand value is rocketing, with Giti the fastest-growing tyre brand in the ranking, following a 19 per cent brand value increase. Similarly, Sailun, Linglong Tire and Sentury Tire accelerates off the back of an overseas demand surge.
Goodyear has inaugurated a new large-scale solar panel installation at its Colmar-Berg proving ground. Completed in December 2023, the installation was inaugurated on 28 May in the presence of Lex Delles, Luxembourg Minister of the Economy, SME, Energy and Tourism. The solar project has a total surface area of 37,700sqm, with a capacity of 4.4 MWp. It is made up of 8,148 bifacial panels, capturing light both on the illuminated surface of the panel and on the lower surface thanks to diffuse light. It continues Goodyear’s collaboration with energy supplier Enovos.
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