Goodyear Tire & Rubber Co.'s third-quarter sales in North America decreased 6% compared to the previous year. The nearly $2.1 billion total represented 44.1% of the company's total net sales.
(Goodyear's net sales for 3Q 2014 were more than $4.6 billion. To read about the quarterly financials in-depth, click here.)
According to Goodyear, North America's quarter-to-quarter sales are a reflection of two things:
1. a 4% decrease in tire unit volume (both replacement and original equipment) and
2. an unfavorable currency translation.
Third-quarter 2014 segment operating income was $210 million, a 30% improvement over 3Q 2013 and a record for any quarter. The improvement was driven "primarily by lower conversion and raw material costs."
Operating income also was up significantly in the Europe, Middle East and Africa segment and the Asia Pacific segment. Sales were down in all four segments, including Latin America.
For more on Goodyear's third-quarter results, check out this link:
