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.
New additions to the Goodyear Vector 4Seasons Gen-3 tyre line will enable it to cater to a wider range of vehicles. This move aligns with the projected growth in demand for all-season tyres in Europe, positioning Goodyear to strengthen its market presence. The extension introduces 29 new sizes, with 17 of these being for 19-inch and larger rim diameters.
Gary VanderLind will soon retire from The Goodyear Tire & Rubber Company, and the company has appointed Nicole Gray to succeed him as Senior Vice President and Chief Human Resources Officer. Gray will take on this remit from 1 July 2024.
More than a dozen tyre-related firms are amongst the 600 or so exhibitors committed to participating in this year’s Hillhead show. Visitors will have the opportunity to meet with representatives from manufacturers, distributors and accessories/consumables suppliers, and get to see their latest ranges in a unique location.
Following the news of unannounced raids on Goodyear offices in France, Belgium and Luxembourg, Eurojust has confirmed that it has assisted the authorities in France, Belgium and Luxembourg with a series of coordinated searches of premises and offices of “an international tyre manufacturer”. While Eurojust hasn’t yet confirmed the identity of the manufacturer at the centre of the investigation, the locations match those that Goodyear itself has said were subject to unannounced visits.
The 14th GuangRao Rubber Tire and Automotive Accessory Exhibition (GRTAE) opened in Dongying City, GuangRao County, Shandong Province, China today. First impressions and the facts released by organisers during the official launch conference, which also included speeches from local officials responsible for the leadership of relevant civic departments, there are some 550 exhibitors here presenting their tyre-related latest offerings to as many as 80,000 visitors.essions and the facts released by organisers during the official launch conference, which also included speeches from local officials responsible for the leadership of relevant civic departments, there are some 550 exhibitors here presenting their tyre-related latest offerings to as many as 80,000 visitors.
Avon has expanded its WX7 winter tyre range with the addition of 12 SKUs for 17- to 19-inch rim diameters. The new dimensions grow the range to a total of 29 sizes to give increased access to a “broad spectrum of cars.”
In an operation that French newspaper Le Monde describes as “both spectacular and unprecedented,” investigators from three European countries carried out a series of raids against Goodyear today. The publication writes that the prosecutor in Besançon, France confirms this action, which took place just two months shy of the tenth anniversary of a fatal motorway crash involving a Goodyear Marathon LHS II truck tyre.
“A new era” began at Mülheim/Essen Airport in Germany towards the end of last week with the launch of the new Goodyear Blimp/Zeppelin season from a new location. Zeppelin NT, hangar operator WDL Group, and the tyre maker, represented by Frank Titz, Goodyear’s general manager of replacement consumer sales in the DACH (Germany, Austria & Switzerland) region, invited media and local dignitaries to welcome the airship and inaugurate the first flights over the Ruhr region.
Goodyear has appointed Ben Crawley to the position of Sales General Manager Replacement Consumer Europe North and Rob van Leersum as Sales General Manager Replacement Truck Europe North.
Goodyear India Limited reports the resignation of its Chief Financial Officer, Manish Mundra. In a letter dated 1 May 2024, Mundra informed Goodyear India’s Board of Directors of his intention to part ways with the company, effective from the close of business hours on 30 June 2024. Munish explains that he wishes to explore “professional growth opportunities outside the organisation.”
In November 2023, Goodyear announced that its Chemical business, OTR operation and Dunlop brand rights were all being “strategically reviewed” with a view to raising more combined revenue of north of $2 billion from their sale.
While Goodyear reported a net loss of $57 million in the first quarter of 2024, other metrics suggest that the company’s financial situation is offering signs of improvement. A strong showing from the Asia Pacific region and the welcome “stabilisation” of truck tyre demand in EMEA were both notable examples of improvement alongside the impact of Goodyear’s well-documented Goodyear Forward transformation plan.
The first round of the FIA World Endurance Championship in Qatar marked LMGT3’s arrival to the championship, with Goodyear as the exclusive tyre supplier. Through the introduction of its new LMGT3 tyre specification and enhancements to logistical support, Goodyear claims to have aligned with WEC and FIA’s sustainability goals, driving efforts towards a cleaner and more environmentally responsible sport.
Valuing Goodyear’s for-sale OTR tyre business at between $800 million and $1 billion, financial analysts have evaluated a hypothetical acquisition of the unit by Continental AG as “a complementary fit”. Writing in an investor’s note dated 23 April 2024, the Jefferies report endorsed the business case behind the scenario:
The Luxembourg Institute of Science and Technology (LIST) and The Goodyear Tire & Rubber Company have commenced a second phase of their strategic collaboration. Goodyear says this next step in the two parties’ joint work will not only leverage previous achievements but will also “delve into new technological avenues.”
If you would like the latest news from the Chinese tyre industry in Chinese, visit our partner site TyrepressChina.com. Or click below to continue on Tyrepress.
GTRAE