Sales and income increases in North America contributed significantly to Toyo Tire Corp.'s overall gains in 2022. Globally, Toyo posted a 26.3% increase in sales during the year.
However, the company's operating income declined by 17% versus prior-year levels.
In North America, Toyo achieved a 39.6% increase in sales, while its operating income in the region climbed by nearly 16%.
Toyo's overall tire sales increased by 28.5% last year. Income derived from tire sales increased by 15.3% during 2022.
Company officials are projecting sales and income gains in 2023.
