Retail

Goodyear to keep focus on 'high margin business'

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Goodyear Tire & Rubber Co.'s consumer replacement volume in North America was down 8% during the first quarter, "mostly (in) original equipment" and also in "the lower end of consumer replacement," Goodyear Chairman, CEO and President Bob Keegan told investors earlier today.

However, Goodyear increased its share "in our targeted market segments," including high margin tires, he noted.

"We are pleased with the peformance of our high margin products," said W. Mark Schmitz, Goodyear's executive vice president and chief financial officer.

The original equipment consumer tire market in North America was weak during the first quarter, Goodyear officials noted in a statement issued earlier today. Meanwhile, consumer replacement demand "was soft, particularly for low value-added tires," according to Goodyear officials.

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