"Our new product engine is as strong as ever," Richard Kramer, Goodyear Tire & Rubber Co.'s CEO and president, told investors during a conference call held earlier today, April 28.
Goodyear will introduce 13 new commercial products in North America this year, said Kramer.
The Akron, Ohio-based tiremaker launched 62 products last year, "and we've already introduced 17 new products in the first quarter," including the Goodyear Assurance ComforTred Touring, whose sales have exceeded original projections.
Kramer also addressed Goodyear's manufacturing capacity. He pledged to "reduce excess high-cost capacity" by 15 million to 25 million units.
"Our primary focus is on our North America facilities. I recently visited a number of facilities" and was impressed "by the signs of engagement and improvement that give me confidence that progress (toward more efficient manufacturing) is happening."
Goodyear published its first quarter result earlier today. For more information, see Goodyear posts sales gain, net loss for 1Q.