London – Stock prices of most of major tire makers have seen a negative trend in recent weeks, reversing an uptrend observed in August and early September.
With the exception of Bridgestone, stock prices of all tire makers monitored by ERJ fell over the six weeks to 25 Sept, with US-based tire makers Goodyear and Cooper seeing significant double-digit declines.
Despite a significant rebound since a collapse in March, shares of most tire manufacturers have not fully recovered to pre-Covid prices.
The global outbreak of Covid-19 saw share prices of tire makers fall dramatically, due to widespread temporary plant closures, automotive slowdown and low demand.
Bridgestone (Tokyo) Yen3.305 (14 Aug) to Yen3.352 (25 Sept)
Cooper Tire (NYSE) $34.50 to $30.15
Goodyear (Nasdaq) $9.89 to $7.42
Michelin (Paris) €96.30 to €90.94
Nokian (Helsinki) €23.24 to €22.65
Pirelli (Borsa Italiano) €3.72 to €3.64
SRI (Tokyo) Yen1.023 to Yen943