Goodyear, Tire Industry Rebounding After 2020

May 4, 2021
Goodyear Tire reported its quarterly profit and revenue on Friday of $12 million, which was compared with a net loss of $619 million in the same quarter last year. 

May 4, 2021—After the global tire industry was hit hard in 2020, one of its industry pillars reported strong signs of a rebound, Reuters reported. 

Goodyear Tire reported its quarterly profit and revenue on Friday of $12 million. This is compared with a net loss of $619 million in the same quarter last year. 

Net sales rose 14.9 percent to $3.51 billion, beating estimates of $3.40 billion. The company, whose brands include Kelly and Dunlop, said tire volumes rose 12 percent to 35 million units in the quarter, while replacement tire volumes jumped 14 percent.
 

About the Author

Ratchet+Wrench Staff Reporters

The Ratchet+Wrench staff reporters have a combined two-plus decades of journalism and mechanical repair experience.

Sponsored Recommendations

Valvoline Partner Solutions

We arm you with products that build trust, tools that unlock productivity, and training that drives business performance, so you feel confident in where your...

Grow the business you know

Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube.

Solutions that drive results

Connect with Valvoline experts to increase operational efficiency and customer loyalty – from Valvoline-funded promotions to hands-on training, we’re here to...

Free Resources for Shops Like Yours

View insights, research and solutions curated specifically for shops like yours.