Toyo Tire Corp. posted $920.7 million in sales during the first three months of 2025, a first quarter record for the company.
That number also is an increase over the $815 million in revenue that Toyo generated during the same period in 2024.
Toyo’s first quarter 2025 operating income totaled $152.7 million, down year-over-year due to higher costs, including raw materials.
The company’s tire business generated around $843 million in sales during the first three months of 2025, a 6.2% year-over-year gain.
Regional performance
North America proved to be a strong market for Toyo during 1Q 2025, with total sales of around $624 million, an increase of 7.7% from the same period in 2024. Toyo’s operating income in North America totaled $36.1 million, an increase of 24.5% from 1Q 2024 levels.
Toyo experienced its most significant growth in Japan, where sales jumped 8.6% on a year-over-year basis to $183.4 million. Also in Japan, Toyo’s operating income increased by 35.5% to $84.8 million.
The company’s sales declined by an aggregate of 3.9% in its other regions.
New tire and leader
Toyo continued to expand its product range during the first quarter of 2025 with the launch of its new Open Country R/T Pro, an on- and off-road rugged terrain hybrid M/T tire.
The tire will succeed the Open Country R/T, which was first introduced by Toyo Tire in 2014. It rolled out in January with an initial 50 sizes and load combinations for 17- up to 24-inch wheel diameters - up to 42-inches in overall diameter.
Popular fitments include factory original and heavily modified vehicles from makes such as Chevrolet, Ford, INEOS, Land Rover, Nissan, Jeep, Ram and Toyota. Toyo also experienced a high-level executive change during the first quarter when Tomo Mizutani, chairman and CEO of Toyo Tire Holdings of Americas Inc., moved into a full-time advisor role with the company, effective March 26.
On that date, Tatsuo Mitsuhata became the new chairman and CEO of Toyo Tire Holdings of Americas Inc. Before that, Mitsuhata served as Toyo Tire Corp.’s director, corporate officer, and vice president, sales headquarters.
Full year forecast
For the first half of 2025, Toyo is forecasting net sales of $1.89 billion and operating income of around $259 million, “assuming tariff impact can be absorbed with appropriate measures,” according to Toyo officials.
