AKRON (Oct. 25, 2000)—Goodyear is increasing its share of both the North America original equipment and replacement tire markets because consumers are turning away from the Firestone brand in the wake of Bridgestone/Firestone Inc.´s recall of 6.5 million P-metric light truck tires, according to Goodyear Chairman and CEO Samir Gibara.
"We´ll gain, and we´ll retain what we gain," Mr. Gibara told analysts during an Oct. 24 conference call. "Consumers don´t want vehicles with Firestone tires," he said.
Mr. Gibara credited gains in Goodyear-brand market share gains to a consumer "flight to quality. Firestone now has a bad name recognition, and Bridgestone has no name recognition in the North American replacement market."
Goodyear brand tires have accounted for more than half of the P235/75R15 tires replaced on Ford Explorers since Bridgestone/Firestone announced its recall in early August, Mr. Gibara said.
At last count, more than 4.5 million Firestone Wilderness, ATX and ATX II tires have been replaced.