By Alex Kapadia
The development of fuel-efficient tyres helped Goodyear through the recession, according to the company boss.
Robert Keegan, chairman and CEO of Goodyear tyres, said: “We made the right decision late in 2008 to launch a record 62 new products in 2009 despite poor industry conditions. Others may have made a different decision.”
He pointed to the launch of the Goodyear Assurance Fuel Max tyre in North America as a “prime example of an impactful new product launch”.
The tyre was the most successful high value-added new product launch in the history of the company, taking just seven months to sell more than one million tyres and going on to sell a total of two million.
Keegan said the reason for the company’s success was it struck the right note with consumers, offering innovative products and mid-tier pricing.
He said: “With fuel-efficient tyres, we have created a major new growth generator for our company and for our customers.
“My comment to our customers has been consistent and clear. Don’t underestimate the market’s appetitie for fuel-efficient tires. It is likely to exceed all our expectations.”