In April, US industry shipments of consumer replacement tyres were more than 3% above last year’s levels and Goodyear shipments were in line with industry shipments.
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Industry shipments of commercial replacement tyres were down almost 3% from last year’s levels but Goodyear’s shipments of commercial replacement tyres were up 6%. While increasing year-over-year, shipments are still well below historical levels.
Industry shipments in April to original equipment customers were up 13% from a year ago for both consumer and commercial tyres.
Goodyear’s OE unit shipments were better than the industry for consumer tyres but below the industry for commercial tyres.
The tyre maker’s operating income in April benefited from slightly lower raw material costs.
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By GlobalDataShipments to its large wholesalers improved in April as industry retail demand for tyres picked up somewhat versus the first quarter. However, volumes are still not back to last year’s levels resulting in a less-favourable brand mix for replacement tyres.
European tyre industry replacement tyre shipments were up almost 7% for consumer tyres and up 8% for commercial tyres compared to prior year levels. Goodyear consumer shipments were flat primarily due to price increases implemented in the UK on April 1, 2002.
Goodyear commercial shipments were up but slightly below industry shipments.
Industry and Goodyear OE consumer tyre shipments were up compared to the prior year. The OE commercial business continues to be weak as industry and Goodyear commercial tyre shipments were down.
Operating income in April benefited from higher capacity utilisation and lower raw material costs.
The euro, at 0.90 to the US dollar, strengthened about 3% in April.
