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 has appointed Mamatha Chamarthi senior vice president and chief digital officer. It also appointed Will Roland senior vice president and chief marketing officer. Both will report to chief executive officer and president Mark Stewart, from 1 August.
In a move related to its November 2023-unveiled Goodyear Forward transformation plan, The Goodyear Tire & Rubber Company intends to relocate 175 positions from its global headquarters in Akron, USA to Costa Rica. Doug Grassian, promoted earlier this month to become the tyre maker’s vice president of global communications, explained that the positions moving to Costa Rica support corporate functions and Goodyear’s business segment covering North and South America.
The IAA Transportation show will take place in Germany in less than two months’ time, and the exhibitor list includes many familiar names from the tyre industry. Two major manufacturers recently shared what they intend to highlight at the commercial vehicle, logistics and transportation trade fair.
HiQ Tyres & Autocare is expanding its HiQ2U mobile fitting service with 12 new vehicles. These additions to the fleet will service the needs of Enterprise Mobility in several areas of the UK, primarily the South East, Luton, Milton Keynes, and the Midlands.
A week and a half after confirming its interest in acquiring The Goodyear Tire & Rubber Company’s Off-the-Road (OTR) tyre business, The Yokohama Rubber Co., Ltd. has announced that it has entered into a purchase agreement valued at US$905 million in cash. Completion of the acquisition is conditional on the usual regulatory approvals and is expected to close by early 2025.
HiQ Tyres & Autocare has further extended its UK footprint with the inauguration of a new service centre in Bicester, an outlet it considers a “flagship” site for the brand. The new outlet is a continuation of the expansion occurring within the network, and since opening in May, it has experienced significant growth and has received overwhelmingly positive feedback from local customers.
As of 1 July 2024, Goodyear has combined its Australia/New Zealand (ANZ) and ASEAN businesses into a single cluster, ASEANZ. It has appointed Prashant Lal to lead the cluster as Managing Director. The company anticipates that this “strategic move” will bolster its rapidly expanding Asia Pacific business and leverage broader growth opportunities.
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.
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