By Oliver Hall
Goodyear tyres has announced a net loss of $20 million on nets sales of $5 billion for the third quarter of 2010.
The tyres manufacturers loss compares to a net income of $72 million on sales of $4.4 billion for the same period last year.
However, tyre unit volume totaled 7.7 million for the quarter, which is up 6% from last year and the highest record since the third quarter of 2008, according to the company.
Goodyear pointed out that during the third quarter, its Assurance Fuel Max tyre line exceeded three million units sold in North America (the tyre was introduced in 2009). Fuel Max tyres were recently introduced in the Latin America and Asia Pacific markets.
Richard J. Kramer, chairman and chief executive officer of Goodyear, said: “We are pleased with our continued strong operating results and made significant progress in all of our strategic focus areas during the third quarter.
“We are encouraged by the strength and breadth of the industry recovery.
“The bottom line is that as we look to the future we feel good about the direction of the tyre industry, and we feel even better about our direction as a company.”