Goodyear's North American Tire sales hit record level during 4Q 2005
Goodyear Tire & Rubber Co.'s North American Tire sales during the fourth quarter of 2005 totaled $2.28 billion, 4% more than the fourth quarter of 2004 and a record for the company. For the entire year, Goodyear's North American sales topped the $9 billion mark versus $8.5 billion for the full year of 2004.
"Sales increased as a result of improved pricing and product mix, particularly in the consumer replacement and original equipment markets," say Goodyear officials.
North American volume fell, "primarily as a result of the company's selectivity strategy in the lower-value segment of the consumer replacement market."
Fourth quarter segment operating income for Goodyear's North American Tire division was $43 million, a $14 million increase over the same period in 2004.
"Segment operating income benefited from stronger pricing and product mix and lower selling and administrative costs, particularly offset by higher raw material costs of approximately $73 million and an approximate $15 million impact from" Hurricanes Katrina and Rita.
Yesterday, Goodyear announced it achieved record sales during the fourth quarter and full year of 2005, and also highest full-year net income since 1998.