Goodyear links replacement tire volumes decline to Asian imports blip
‘Shipping disruptions last year led to a large number of tire shipments from Asian sources being delayed…’
Akron, Ohio – Goodyear has linked a third-quarter decline in its replacement tire volumes to “a recovery in the number of imports into mature markets” following supply-chain disruptions in 2021.
Over recent months, reported US industry volumes reflected “significant volatility” in the number of Asian imports, the Akron tire maker said alongside its latest fiscal reporting.
As many of these tires are imported by companies outside of the US Tire Manufacturers Association, volumes are estimated and often corrected in subsequent periods, noted Goodyear.
In addition, it said, shipping disruptions last year led to a large number of tire shipments from these Asian sources being delayed and ultimately delivered in large numbers over the last few months.
As most of these products are sold at price points well below those in its target segments, Goodyear said these developments will have no significant long-term impact on group sales.
Goodyear also noted “recent evidence of this volume declining as supply-chains have cleared and the orders placed earlier have now been delivered.”