AKRON, (June 20, 2001)—Industry shipments of replacement passenger and light truck tires in the U.S. were up almost 4 percent in May, according to the latest report by Goodyear´s Investor Relations department. The company's shipments of such tires exceeded industry levels and the Goodyear brand gained almost 2 points of market share, the reported stated.
Industrywide replacement shipments of commercial truck tires were 6 percent below last year´s levels. Goodyear shipments in total in the commercial replacement market also were below last year´s levels but not nearly as much as the industry decline, the company said.
Industry shipments to the original equipment market were down almost 10 percent from a year ago in the case of of passenger and light truck tires and 43 percent for commercial tires. Goodyear said its OE tire shipments in these categories generally reflected the industry trend.
While production levels were increased in the last week of May for the Ford-approved replacement tire lines only, the company found that significant production cutbacks were still necessary for other consumer and commercial tires. Additional production cutbacks are being made in June, Goodyear added.
Natural rubber and petrochemical raw material prices in May were level with the first quarter 2001, which was up approximately 3 percent year-over-year. Energy costs remain high.
·The second price increase this year for the consumer replacementmarket was effective June 15, 2001, Goodyear noted.