Goodyear Raises 2024 Earnings Outlook Amid Global Challenges

Goodyear Raises 2024 Earnings Outlook Amid Global Challenges

Goodyear Tire & Rubber raised its 2024 earnings outlook, citing strong operational income gains despite ongoing global challenges impacting sales volumes. The Ohio-based tyre manufacturer reported a segment operating income (SOI) of USD 347 million for Q3 2024, a 3.3 percent or USD 11 million increase from the prior year. The SOI margin expanded to 7.2 percent, marking the fourth consecutive quarter of margin improvement, aided by cost-saving initiatives and optimisation efforts as part of the “Goodyear Forward” programme.

Goodyear announced it achieved USD 450 million in year-over-year SOI benefits in 2024 and increased its annual target by $200 million, aiming for USD 1.5 billion in total ru “-rate savings by” 2025. However, sales for the quarter dropped 6.2 percent year-over-year to USD 4.82 billion, impacted by declining tyre unit volumes, which fell by 6.2 percent to 42.5 million units. This volume decline, coupled with an increase in unabsorbed fixed costs, contributed to a significant negative impact on the quarter’s results.

Goodyear’s Americas segment posted a 2.7 percent decrease in operating income at USD 251 million. EMEA sales grew eight percent amid heightened replacement demand, generating a 9.1 percent boost in segment operating income. In the Asia-Pacific region, the company reported a 28.6 percent year-over-year rise in SOI to USD 72 million.

Region-Wise Performance

Americas

Sales Revenue: Decreased due to lower volume.

Operating Income:  USD 251 million, down 2.7 percent year-over-year.

Impacted by volume decline, with pricing pressures continuing. Operational efficiencies and cost-saving measures mitigated part of the revenue reduction.

Europe, Middle East, and Africa (EMEA)

Sales Growth: 8 percent year-over-year growth.

Segment Operating Income: Strong growth in replacement segment, generating 9.1 percent higher operating income.

Demand remained high in the replacement segment, with steady growth attributed to cost savings and pricing adjustments.

Asia-Pacific

Sales: Increased due to volume recovery in the Chinese and Southeast Asian markets.

 Segment Operating Income: USD 72 million, up 28.6 percent from Q3 2023.

Volume recovery post-pandemic has boosted performance in this region, supported by strong demand across various categories.

The company remains committed to its portfolio optimisation, targeting gross proceeds of over USD 2 billion through asset sales, said Goodyear.

Sun Auto Enters Colorado Market With Major Acquisition

Sun Auto Enters Colorado Market With Major Acquisition

Sun Auto Tire & Service, one of the largest independent tyre and automotive service providers in US, has expanded into Colorado by acquiring 23 locations from DAS Drive Automotive Services, marking its entry into the state. This move establishes a notable presence for the company in the greater Denver area while simultaneously enhancing its existing footprint in Arizona. As a result, the Sun Auto Network broadens its service coverage throughout the Southwest region.

With the integration of these locations into the network, customers will now benefit from an expanded suite of offerings. These include access to well-known national tyre brands, the implementation of digital vehicle inspections and an extended range of service capabilities. Furthermore, a nationwide warranty, supported by over 575 locations across the country, provides added assurance. The acquired shops will also tap into shared operational resources, benefit from advanced training initiatives and utilise integrated technology systems, all designed to ensure a uniform and high-quality experience for customers and support for technicians.

This strategic growth is in line with Sun Auto's overarching goal of sustainable expansion. The company prioritises partnerships with established operators who demonstrate a strong dedication to service excellence, the professional development of their teams, and deep-rooted community ties. Through this latest acquisition, the Sun Auto Network continues to extend access to dependable automotive care while reinforcing the communities and personnel fundamental to its ongoing success.

Chris Ripani, Chief Operations Officer, said, "We're excited to welcome these respected brands and their teams to the Sun Auto Network. Each of these businesses has built strong relationships in their communities by delivering dependable service and taking care of customers the right way. That commitment aligns perfectly with the values we look for in every partnership."

TyreSafe Welcomes Essex Police As Newest Road Safety Partner

TyreSafe Welcomes Essex Police As Newest Road Safety Partner

TyreSafe, UK’s charity dedicated to raising tyre safety awareness, has welcomed Essex Police as its newest road safety partner, furthering a joint effort to address the dangers posed by defective and unlawful tyres across one of UK’s most expansive and varied policing regions. As the largest non-metropolitan force in the country, Essex Police serves over 1.86 million residents, covering a diverse landscape that includes dense urban areas, vast agricultural regions, 400 miles (approximately 643.74 km) of coastline and key national assets such as Stansted Airport and the Port of Tilbury.

This partnership adds Essex Police to a nationwide network of more than 250 TyreSafe affiliates, all working collaboratively to reduce collisions stemming from tyre-related offences and neglected vehicle upkeep. The force’s Head of Roads Policing, Adam Pipe, characterised 2025 as exceptionally tragic due to a spike in road deaths. In response, enforcement was intensified, revealing a persistent pattern of tyre violations during checks.

Officers noted that tyre defects frequently appear on vehicles driven by individuals under the influence of alcohol or drugs. This combination of risky behaviour and poor vehicle care significantly endangers others. During the winter anti-drink and drug driving initiative, Operation Limit, numerous tyre issues came to light. These included a vehicle stopped with four completely bald tyres, two of which showed exposed cords, leading to an immediate driving ban. A single day of action in Maldon uncovered eight construction and use offences, ranging from shallow tread to sidewall damage. At least one driver was reported for visible tyre cords, an offence that typically attracts fines and licence points. The Commercial Vehicle Unit also utilised thermal cameras and tread gauges during HGV inspections, finding that a considerable number of commercial vehicles required warnings or prohibitions for tyres nearing the legal limit.

These incidents highlight the widespread nature of the problem and the substantial threat it poses to everyone using Essex’s roads. Defective tyres are a major but avoidable hazard, contributing to diminished control, longer stopping distances and heightened danger in wet conditions. UK regulations mandate a minimum tread depth of 1.6 mm for cars and vans and 1 mm for large goods vehicles and larger motorcycles. Tyres must also be free of significant damage and correctly rated for their vehicle. Offenders risk fines reaching GBP 2,500 and three penalty points for each illegal tyre.

Inspector Steve Rooney, Roads Policing, Essex Police, said, “We are seeing first-hand just how many vehicles on our roads are being driven with tyres that are worn, defective or in an outright dangerous condition. The risk to the public is enormous, yet the fear of detection among offenders remains low. By partnering with TyreSafe, we aim to raise awareness, improve compliance and ultimately reduce avoidable harm on our roads.”

Stuart Lovatt, Chair of TyreSafe, said, “We are delighted to welcome Essex Police as a TyreSafe road safety partner. The scale and diversity of Essex’s road network – from urban centres to major freight routes – means the force plays a vital role in protecting millions of road users every day. Enforcement highlights the issue, but education and awareness are equally important. By working together, we can ensure more road users understand their legal responsibilities and the simple checks they can carry out to keep their tyres safe and roadworthy. Preventing tyre-related incidents is entirely achievable, and partnerships like this are key to reducing avoidable harm on our roads.”

Tana Oy Appoints Infinity Services As Authorised Agent In Taiwan

Tana Oy Appoints Infinity Services As Authorised Agent In Taiwan

Tana Oy, a Finnish environmental technology company specialising in manufacturing mobile solid waste shredders, screens and landfill compactors, has strengthened its footprint in Taiwan by appointing Infinity Services Co., Ltd. as its official agent. This partnership is set to improve service and engineering support throughout the region. Infinity Services brings a highly skilled management and technical team with extensive experience in environmental and recycling equipment operations.

With Tana already established in Taiwan for several years, Infinity Services will now provide reliable local support for the existing fleet of machines, ensuring customers benefit from enhanced technical expertise. This move underscores Tana’s long-term dedication to the Taiwanese market, offering faster response times and comprehensive after-sales service, thereby reinforcing the company’s commitment to delivering superior customer care and operational efficiency in the region

Updated AZuR Green Paper Positions Tyre Circular Economy As Key To Clean Industrial Deal

Updated AZuR Green Paper Positions Tyre Circular Economy As Key To Clean Industrial Deal

The Alliance for the Future of Tyres (AZuR) has released a revised Green Paper examining tyre circularity across Europe. This document explores the benefits of extending tyre life through retreading, repair and reprofiling, alongside mechanical and chemical recycling. It illustrates how circular economy principles can advance climate goals, preserve resources and strengthen industrial competitiveness.

The paper presents targeted appeals to political leaders, stressing the urgency of adapting legal structures to unlock current potential. It echoes the European Court of Auditors regarding robust recycling markets, which depend on consistent enforcement and dependable funding. Christina Guth, coordinator of the AZuR network, frames the tyre circular economy as a demonstration of sustainable practice, where environmental protection and economic activity reinforce one another.

The paper acknowledges the Clean Industrial Deal as constructive, yet argues circularity must occupy a more central position. Products must be conceived from the beginning with reuse and recycling in mind if materials are to remain in circulation. This gains urgency as the mobility sector expands, bringing increased tyre waste. A functioning circular system for tyres presents an avenue for reconciling ecological pressures with economic development.

The initiative coordinated by AZuR unites more than 80 organisations spanning industry, small business and research. In Germany, over half of the more than half a million tonnes of annual tyre waste is cycled back into use, with collected materials evaluated by certified operators.

Despite existing capabilities, the paper asserts political engagement remains insufficient. It enumerates requests for governing bodies, including support for repair enterprises, binding sustainability benchmarks and inclusion of retreaded options in public procurement. Another element involves cultivating a European market for premium recycled substances.

The paper also advocates for clear regulations regarding novel recycling methods and for recycled content to be granted equivalent status to virgin materials. Such measures are presented as essential for protecting investment in sustainable innovation.

Broader European trends indicate circular systems are increasingly viewed as integral to a resilient industrial approach. Advanced recovery infrastructure aids climate objectives and underpins material security. The European Court of Auditors has called for reinforced policy conditions that enable recycling economies to thrive, highlighting consistent rule application and stable financing for recovered materials.