Goodyear in North America: sales increase 16.8%
Goodyear Tire & Rubber Co.'s North American Tire business segment had increased sales and operating income for the third quarter ended Sept. 30, 2010, compared to the same period last year.
Sales reached nearly $2.2 billion, which represents 43.8% of the company's sales for the quarter (for more information on Goodyear's global results, click on "Goodyear loses $20 million in third quarter"). Sales for 3Q 2009 were close to $1.9 billion.
Quarterly segment operating income was $5 million, up from $2 million last year.
Goodyear says its North American results benefited from $96 million in improved price/mix, higher volume, increased production levels, decreased pension expense, "and actions to reduce costs." These were nearly offset by $148 million of higher raw material costs.
North American Tire’s sales reflected a 5% increase in tire unit volume, broken out as follows:
* a 12% increase in original equipment volume;
* a 3% increase in replacement volume.
Third quarter revenue per tire, excluding the impact of foreign currency translation, increased 7% in 2010 compared to 2009, according to the company.
For the first nine months of 2010, Goodyear North American Tire posted sales of $6 billion and operating income of $7 million. That compares to sales of $5.1 billion and an operating loss of $278 million for the first nine months of 2009.