Goodyear Posts USD2.2 Billion Quarterly Loss As It Completes Divestitures Under Goodyear Forward Plan
- By Sharad Matade
- November 04, 2025
Goodyear Tire & Rubber reported a net loss of USD 2.2 billion for the third quarter of 2025, weighed down by significant non-cash charges, even as its “Goodyear Forward” transformation programme continued to deliver strong operational benefits and major divestitures were completed.
The tyre maker said segment operating income rose to USD 287 million in the quarter, reflecting USD 185 million in cost-saving benefits from Goodyear Forward, which helped offset inflationary pressures, lower volumes and the absence of prior-year insurance recoveries.
“We delivered a meaningful increase in segment operating income relative to the second quarter in an industry environment that continued to be marked by global trade disruption,” said Mark Stewart, Chief Executive Officer and President. “This growth underscores our strong product portfolio and the consistency of our execution under the Goodyear Forward plan, both of which we expect to support further acceleration in our earnings during the fourth quarter.”
Goodyear’s quarterly net sales were USD 4.6 billion, with tyre unit volumes at 40 million. The company recorded a USD 1.4 billion non-cash deferred tax asset valuation allowance and a USD 674 million goodwill impairment charge during the quarter. Adjusted net income was USD 82 million, compared with USD 102 million a year earlier.
The company stated that all planned asset sales under its Goodyear Forward plan had now been completed, generating total gross proceeds of approximately USD 2.2 billion, which will be used to reduce debt and reinvest in growth.
On 31 October, Goodyear finalised the sale of the majority of its Goodyear Chemical business to an affiliate of Gemspring Capital Management, LLC, for USD 650 million, subject to adjustments. At closing, Goodyear received approximately USD 580 million in cash, which reflected working capital adjustments, including those for intercompany receivables.
“With the sale of our Chemical business, we have completed all of the planned asset sales included in our Goodyear Forward transformation program,” said Stewart. “Additionally, we surpassed initial expectations, with total gross proceeds from the divestitures of approximately USD 2.2 billion. As a result, we have a more focused, streamlined portfolio that will allow us to grow our core products and services and achieve our vision of being #1 in Tires and Service.”
The sale included Goodyear Chemical facilities in Houston and Beaumont, Texas, as well as a research office in Akron, Ohio. The company retains its chemical plants in Niagara Falls, New York, and Bayport, Texas, as well as the rights to the products produced there.
By region, the Americas segment reported third-quarter sales of USD 2.7 billion, a 4.2 percent year-over-year decline, as replacement tyre volumes decreased due to high inventories of imported products in the US market. Segment operating income fell to USD 206 million from USD 251 million.
In Europe, the Middle East and Africa (EMEA), sales rose 4.4 percent to USD 1.4 billion, supported by favourable currency movements and stronger price/mix. Operating income increased to USD 30 million from USD 23 million a year earlier.
Asia Pacific sales fell 18.9 percent to USD 501 million, reflecting the sale of the Off-the-Road (OTR) tyre business and softer demand in Japan, Australia and China. Segment operating income dropped to USD 51 million from USD 72 million.
Goodyear said it expects to achieve about USD 1.5 billion in annualised run-rate benefits from the Goodyear Forward programme by the end of 2025.
GRI Tyre Wins Sustainability And Innovation Honours At Automechanika Dubai
- By TT News
- December 23, 2025
ULTIMATE GREEN XT tyre has won two awards at the Awards, receiving Sustainable Product of the Year and being Highly Commended in the Innovative Product of the Year category.
The awards were presented last week in Dubai and add to earlier recognition for the product, which received the Best Innovation in Sustainability award at in Chicago earlier this year.
The Sustainable Product of the Year and Innovative Product of the Year categories recognise products that demonstrate environmental responsibility and technological innovation in the global automotive and mobility industry. The judges cited the tyre’s use of environmentally friendly materials and its reduced environmental impact.
The ULTIMATE GREEN XT, identified by its green colour, has been developed with a focus on sustainability while maintaining performance, durability and safety standards. The Sustainable Product of the Year award reflects its contribution to more sustainable mobility solutions, while the innovation commendation highlights its design and engineering approach.
Automechanika Dubai is the largest international trade fair for the automotive aftermarket across the Middle East, Africa and South Asia, bringing together manufacturers, suppliers and industry leaders. Recognition at the event underlines the international profile of the ULTIMATE GREEN XT following its earlier award in the United States.
Barry Guildford, global commercial director of GRI Tires, said, “This recognition at Automechanika Dubai is a proud milestone for GRI. The ULTIMATE GREEN XT reflects our vision of delivering innovative tire solutions that support sustainability while meeting the evolving needs of our customers worldwide.”
GRI said it would continue to invest in research and development aimed at advancing sustainable tyre technologies, following the continued recognition of the ULTIMATE GREEN XT in international markets.
The rollout of GST 2.0 marks a defining moment in India’s economic journey – a reform that may well prove even more consequential than the original introduction of the Goods and Services Tax. Especially for a sector like tyres, the recent reduction in (GST) on tyres is far more than just a change in numbers. It is a transformative step that touches every wheel turning on India’s roads – from a farmer’s tractor to a trucker’s long-haul trailer and from a commuter’s scooter to a construction vehicle powering the nation’s infrastructure.
For years, tyres were taxed at 28 percent – the highest GST slab, clubbed with luxury and demerit goods. This categorisation never truly reflected the essential role tyres play in our everyday lives. Tyres are not a luxury. They are a fundamental enabler of mobility, supporting the movement of people and goods across cities, towns and villages. By bringing GST rates on tyres down to a more rational level, the government has addressed a long-standing anomaly and set the stage for widespread benefits across the economy.
The most visible impact of this move will be felt on the ground – literally. Lower GST means more affordable tyres for all users. Especially for transporters and fleet operators, tyres account for a significant chunk of vehicle running costs. A reduction in tax translates into lower replacement costs, freeing up working capital and improving operational margins. Farmers, small traders, delivery personnel, service providers, transporters – every segment that relies on mobility will feel this relief.
India has been working hard to bring down logistics costs, which are believed to be about 13–14 percent of GDP – much higher than global benchmarks. Tyres have a direct bearing on vehicle operating efficiency, fuel consumption and maintenance schedules. When tyres become more affordable, operators can replace tyres on time, and run vehicles more efficiently.
This naturally leads to lower logistics costs. Reduced logistics costs ripple across the value chain, helping industries move goods faster and at lower cost. This aligns perfectly with India’s ambition to become a more globally competitive manufacturing and trading hub.
Tyre industry’s story is not just urban – it’s deeply rural as well. Tractor tyres, power tiller tyres and tyres for animal-drawn vehicles are integral to the agricultural economy. A reduction in GST brings meaningful relief to farmers and small cultivators who rely on these tyres for their daily operations. By easing this cost, the government has extended direct support to rural mobility and agricultural productivity – an often underappreciated but critical outcome of this reform.
One of the most powerful yet often overlooked impacts of this decision lies in road safety. Worn-out tyres are a major cause of road accidents, particularly on highways. High replacement costs often lead to tyres being used well past their safe life.
With lower GST making new tyres more accessible, both individual motorists and commercial fleet owners are more likely to replace tyres on time, keeping vehicles safer and reducing accident risks. This complements the government’s broader road safety agenda, making highways not just faster but safer for everyone.
For the Indian tyre industry, which is one of the largest in the world, this reform is a game changer. It creates a more balanced tax structure, supports better cash flow, improves compliance and strengthens the competitiveness of domestic manufacturers. It will also encourage investment and capacity expansion, enabling the industry to serve growing domestic demand and tap export opportunities more effectively.
The GST reduction on tyres is a strategic, forward-looking policy decision that will benefit the entire mobility ecosystem. It acknowledges the essential role tyres play – not just as a product, but as a critical enabler of transportation, logistics, rural livelihoods and road safety.
As this reform takes root, its positive impact will be felt by consumers, businesses, farmers and industries alike. The tyre industry, represented by ATMA, welcomes this move wholeheartedly and remains committed to working alongside the government to strengthen India’s journey towards affordable, efficient and safe mobility for all.
The author is Director General of the New Delhi-based tyre industry association, Automotive Tyre Manufacturers’ Association (ATMA).The views expressed here are personal.
WACKER Secures Gold Medal In EcoVadis Sustainability Rating
- By TT News
- December 18, 2025
WACKER has earned the 2025 Gold Medal from the independent rating agency EcoVadis, marking its continued recognition for sustainable practices and responsible corporate governance. This distinction places the company within the top five percent of all businesses assessed by EcoVadis (over 1,000 companies globally). WACKER's overall score improved from 77 points (in 2024) to 79 points, driven largely by enhanced reporting and concrete actions focused on Scope 3 emissions and ethical standards.
The EcoVadis assessment measures the quality of a company’s sustainability management through a methodology grounded in international frameworks like the Global Reporting Initiative, the UN Global Compact and ISO 26000. Performance is scored from 0 to 100 across four core areas: environment, labour and human rights, ethics and sustainable procurement, using 21 specific indicators.
In line with its commitment, WACKER provides its EcoVadis evaluation to customers as a standardised and credible validation of its sustainability efforts. The company has also defined ambitious climate targets, aiming to halve its absolute greenhouse gas emissions by 2030 relative to 2020 levels. Progress is already evident, with a 30 percent reduction achieved as of 2024. Looking further ahead, WACKER strives to reach net-zero emissions across its operations by the year 2045.
Peter Gigler, Head of Corporate ESG, WACKER, said, “The result confirms our initiatives in many key areas. It provides our customers with invaluable proof.”
Craig Borman Appointed As Head Of OTR At BKT USA
- By TT News
- December 18, 2025
Balkrishna Industries Ltd (BKT Tires), a global leader in off-highway tyre manufacturing, has appointed Craig Borman as Head of OTR at BKT USA. The appointment is in line with BKT’s long-term strategy through 2030.
Borman brings with him 20 years of experience across off-road equipment, tyres and rubber tracks. He will play a key role in leading BKT USA's OTR team and expanding the company's presence in this market while increasing awareness of the value and dependability of BKT's range of products.
Borman said, “I’m extremely excited to join the BKT family and to build off the successes that this team has already achieved. I look forward to engaging with our partners, determining how we can accelerate our mutual growth and working towards achieving BKT’s vision of being a recognised leader in the OTR segment.”
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