Tyre maker faces headwinds from low-cost imports but exceeds transformation goals

Goodyear Tire & Rubber reported an adjusted net loss for the second quarter, citing challenges from global trade shifts and a surge of low-cost imports across key markets. However, asset sales helped boost overall revenue.

The Akron, Ohio-based tyre maker posted an adjusted net loss of USD 48 million, or 17 cents per share, compared with adjusted net income of USD 48 million, or 17 cents per share, in the same period last year.

Net sales for the quarter totalled USD 4.5 billion with tyre unit volumes of 37.9 million. The company reported net income of USD 254 million, or 87 cents per share, compared with USD 79 million, or 28 cents per share, a year earlier, boosted by significant one-off gains.

“The second quarter proved challenging in both our consumer and commercial businesses, driven by industry disruption stemming from shifts in global trade - including a surge of low-cost imports across our key markets,” said Chief Executive Mark Stewart.

The results included a pre-tax gain of USD 385 million from the sale of the Dunlop brand to Sumitomo Rubber Industries in May, alongside rationalisation charges of USD 59 million and USD 5 million in transformation costs.

Segment operating income fell to USD 159 million from USD 334 million a year ago. After adjusting for the February sale of its off-the-road tyre business, segment operating income declined by USD 152 million, primarily due to higher raw material costs.

The company’s Americas division, its largest segment, saw net sales drop 1.3 percent to USD 2.7 billion with tyre unit volumes down 2.6 percent. Segment operating income fell to USD 141 million from USD 241 million the previous year, hurt by higher raw material costs and inflation.

In Europe, Middle East and Africa, the company posted a segment operating loss of USD 25 million compared with income of USD 30 million last year, despite net sales rising 5.1 percent to USD 1.3 billion.

Asia Pacific recorded the steepest decline, with net sales falling 22.7 percent to USD 459 million and tyre unit volumes dropping 15.6 percent, affected by the OTR business divestiture and actions to reduce lower-margin business outside China.

Stewart expressed confidence about prospects, stating: “We expect conditions to stabilise in the coming quarters, and we see a clear opportunity ahead as we capitalise on our strong U.S. manufacturing footprint.”

The company continues to execute its “Goodyear Forward” transformation plan, reporting USD 195 million in benefits during the quarter. The programme has generated USD 905 million from the February sale of its OTR business to Yokohama Rubber and USD 735 million from the Dunlop brand sale.

Goodyear has also agreed to sell the majority of its chemical business to an affiliate of Gemspring Capital Management for an undisclosed sum, with the transaction expected to close in late 2025.

“We continue to expect to exceed the original goals for Goodyear Forward both in terms of cost savings and proceeds from asset sales,” Stewart added.

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Hankook Tire is set to exhibit at the 2026 SEMA Show, the leading annual gathering for aftermarket automotive manufacturers, scheduled for 3–6 November at the Las Vegas Convention Center. The company’s display at Booth #80021 in the Silver Lot will feature a broad selection from its Dynapro line, a brand focused on SUVs and light trucks, alongside a rally car from the FIA World Rally Championship.

The Dynapro showcase will include four products: the mud-terrain Dynapro MT2, the rugged-terrain Dynapro XT, the all-terrain Dynapro AT2 Xtreme and the highway-terrain Dynapro HT2. These will be presented together with customised off-road vehicles and the WRC rally car, underscoring the company’s engineering capabilities across varied driving conditions.

Two customised vehicles will demonstrate the lineup’s versatility: the TRAILFINDER Nissan Xterra, previously called Project X, fitted with Dynapro AT2 Xtreme tyres, and the Donut Media Baja Bug equipped with Dynapro MT2 tyres. These builds illustrate Dynapro’s performance across different off-road environments while reinforcing Hankook’s ties to SUV and off-road communities in North America. Donut Media hosts Justin Freeman and Adam Knapik will appear at the booth on 4 November from 11 AM to 4 PM to meet visitors and discuss the Baja Bug build and the NORA 500 event.

A WRC rally car equipped with Dynapro R213 competition tyres will also be on display. Engineered for gravel rally conditions, the R213 offers grip, handling stability, and durability on unpaved surfaces, highlighting Hankook’s specialised tyre development in high-performance motorsports. The company continues to build its premium presence in North America through events such as SEMA and Overland Expo, and aims to strengthen its position in the global SUV and light truck tyre market by leveraging technologies and expertise gained from motorsports and demanding driving environments.

Aaron Hong, Vice President – Marketing, Hankook Tire America Corp, said, "SEMA continues to provide an important opportunity for Hankook to connect with the automotive aftermarket and demonstrate our commitment to innovation and performance. From the technical demands of WRC competition to the diverse needs of SUV and light truck drivers, our Dynapro portfolio reflects the depth of our tyre engineering expertise. We're excited to showcase our products alongside an impressive collection of vehicles that highlight our continued focus on performance, versatility and engagement with the enthusiast community."

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Nokian Tyres has launched its 2026 Virtual Green Tire Giveaway, an annual campaign tied to the company's partnerships with leading mountain resorts across US and Canada. The programme, which debuted in 2023, continues to connect drivers with winter destinations, resort partners and the Nokian Tyres brand through an interactive digital scavenger hunt offering weekly tyre prizes and a grand-prize mountain getaway.

Running through 22 November, the campaign invites participants to follow clues posted on Nokian Tyres' social media channels and those of participating mountain resorts to find a virtual green tyre hidden on an interactive map. A new resort destination and fresh set of clues are unveiled each week, with weekly winners earning a free set of tyres and runners-up receiving resort lift ticket vouchers.

On 23 November, one grand prize winner will be randomly selected to receive a three-night mountain getaway. Further information on featured resorts and clues is available through Nokian Tyres' North America Facebook and Instagram channels, while complete details and participation options can be found online, with a dedicated page offered for French-speaking Canadians.

Hans Dyhrman, Director of Marketing, Nokian Tyres, said, "Our resort partnerships help us connect with consumers who embrace winter and seek adventure. The Virtual Green Tire Giveaway is an engaging way for Nokian Tyres to reach drivers as they prepare for the winter season while highlighting the confidence and peace of mind our tyres provide."

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Pirelli's medium and soft compounds shaped the Mexico City Grand Prix, where Max Verstappen took victory for Red Bull and Kimi Antonelli secured the Formula 1 World Championship with a third-place finish. Lewis Hamilton completed the podium in second for Ferrari at the circuit named after the Rodríguez brothers.

Verstappen triumphed through a two-stop strategy, beginning on mediums before switching to softs on lap 27. After 18 laps on the C5 compound, a red flag stopped the race, and the Dutchman used the pause to fit another set of softs, then resisted Hamilton's challenge to the finish. Hamilton had started on softs, moved to mediums and took another set of softs during the Safety Car that preceded the red flag, later choosing a previously run soft set at the restart while setting fastest laps on both compounds.

Antonelli, at 20, becomes Formula 1's youngest World Champion, breaking Sebastian Vettel's record of 23. The Italian started on softs, switched to mediums on lap 43 and used the red flag to fit another used set of softs, a strategy that delivered third place and the title. The podium contained only World Champions, with Verstappen on four titles, Hamilton on seven and Antonelli on his first.

Antonelli is the third Italian driver to claim the championship. His predecessors also won exclusively on Pirelli tyres, with Giuseppe Farina taking the inaugural 1950 title across six races and Alberto Ascari securing his second consecutive crown in 1953 by winning all eight Grands Prix he entered.

Dario Marrafuschi, Pirelli Motorsport Director, said, “Congratulations to Kimi Antonelli on winning the World Championship. It is a thoroughly deserved success, built on the consistency he has demonstrated throughout the season and sealed today with another outstanding performance, culminating in a podium finish in a race packed with drama alongside two World Champions. Without the neutralisations, a one-stop strategy would have been the most competitive option for this Grand Prix. Both the Soft and Medium compounds proved capable of covering around half the race distance, making it possible to complete the event with a single tyre change. The C5 once again confirmed itself as the benchmark compound in terms of grip and driver confidence, although the performance gap to the C4 was very small, with both compounds showing similar levels of degradation. It was therefore no surprise that every driver chose the Soft for the final stint after the Safety Car, despite also having the Hard compound available.

“From a technical perspective, tyre behaviour was very positive. We recorded no significant graining, and degradation remained within expected levels, proving lower than what had been observed on Friday. A lock-up by Leclerc at the restart following the red flag also provided further evidence of the robustness of Formula 1 tyres. The tyre sliding across the asphalt caused particularly severe localised wear on the front-left tyre, bringing it very close to the internal structural layers. This is certainly not a routine occurrence, but it is one that is consistently taken into account throughout Pirelli’s development and validation processes, including through rigorous indoor testing programmes. The ultimate objective is to ensure that the tyre maintains an appropriate level of integrity even under extreme conditions, allowing drivers to continue racing in complete safety.

“The performance of the Soft compound was particularly interesting, as demonstrated by Antonelli’s lengthy stint. He completed 43 laps while maintaining very limited degradation and a competitive pace right through to the closing stages of the race. The C3, meanwhile, was not considered by the teams because, under race conditions, it did not offer any performance advantage over the two softer compounds. Overall, the data collected confirmed a very clear picture, fully consistent with the simulations carried out before the event, both in terms of degradation and the competitiveness of the various strategic options.”

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Goodyear has expanded its presence in Norwood with a new Goodyear Auto Service store at 981 Boston Providence Hwy., situated in the Automile area just off Route 1. The store marked its arrival with a grand opening ribbon-cutting ceremony on 30 September, giving local drivers fresh access to professional tyre and automotive care.

Motorists visiting the location can choose from Goodyear and Cooper tyre lines, which cater to a range of vehicles, budgets and driving preferences. Among the Goodyear offerings are the Eagle F1 All Season for year-round capability, the Wrangler Steadfast HT for dependable comfort, the Assurance WeatherReady 2 for all-weather conditions and the ElectricDrive 2 for electric vehicle performance.

Beyond tyre sales and installation, the Norwood team provides oil changes, alignments, brake service, battery replacement, air conditioning service and preventive maintenance. With heavy commuter traffic along Route 1 wearing down tyres and colder weather elevating the need for proper care, the store invites drivers to receive a complimentary tyre air pressure check or consultation. Tyre rotation, wheel balancing and TPMS inspections are also available.

Several promotional offers are currently available. Through 30 November, customers who purchase and install select Goodyear or Cooper tyres with the Goodyear Credit Card can receive up to USD 200 back, while a full-synthetic oil change is priced at USD 69.99 through 1 December at participating locations. Qualifying oil changes and services also earn up to USD 20 in Valvoline rebates through 31 December. The store operates Monday through Saturday from 7:30 a.m. to 6 p.m.

Marsha Nelson, Store Manager, said, “Backed by more than 125 years of expertise, our Goodyear team is ready to help customers choose the right tyres and provide the service their vehicles need to get them where they’re going with confidence. We’re committed to exceptional customer service and top-quality products, and we look forward to building lasting relationships with Norwood-area drivers and their vehicles.”

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