AKRON (Sept. 17, 2002) — Despite improved tire shipments to its large wholesalers, Goodyear's shipments of replacement passenger, light truck and commercial tires all fell below the industry trends in August, the company said in its latest monthly investor update.
The firm's shipments of original equipment tires also finished below the industry figures for the month.
For August, Goodyear said its shipments of replacement passenger and light truck tires lagged behind the pace of the industry, which shipped 8-percent fewer tires than a year ago.
Shipments of the Goodyear brand—excluding tires shipped last year as part of the Ford Motor Co.'s tire replacement program—increased compared with August 2001 levels, the company said. However, shipments of custom brand tires declined significantly.
As for replacement commercial tires, Goodyear said it lagged behind the industry shipments, which rose 18 percent during the month from a year ago.
At OE, the industry shipped 3 percent more passenger and light truck tires and 23 percent more commercial vehicle tires. Goodyear said its shipments of OE passenger and light truck and commercial vehicle tires were down compared with last year, while OE shipments of commercial tires increased less than industry levels.
Elsewhere around the world, Goodyear reported mixed results for the month.
In western Europe, Goodyear's replacement passenger and light truck tire shipments declined at the same rate as the industry, down 1 percent in August. The Akron-based tire maker's replacement commercial tire shipments were below the industry level, which fell 6 percent during the month. At OE, Goodyear said its shipments were down less than the 4 percent industry decline.
In eastern Europe, Goodyear's consumer replacement tire unit sales were up significantly compared with August of last year. Volume gains were reported in most countries, especially Russia and South Africa.
OE tire unit sales for Goodyear in eastern Europe were down significantly from August of last year due to longer summer shutdowns by auto and truck manufacturers, the company said.
In Latin America, Goodyear' replacement tire shipments were up from last year, boosted by higher passenger and light truck tire sales in Mexico and Venezuela and strong commercial sales in Brazil. OE shipments in August fell significantly from last year due to a decrease in auto production in Mexico and Brazil.
In Asia, Goodyear's replacement tire shipments increased throughout the region during August, while OE shipments declined from 2001 levels due, in part, to lower sales in China.