By Denna Bowman
Goodyear tyres has reported record sales, higher unit volumes and a net profit for the first quarter of 2011.
The US tyres manufacturer recorded first quarter sales of $5.4 billion, up 27 percent from the 2010 quarter and the highest ever achieved by the company in any quarter.
Tyre unit volumes totaled 46.8 million, up almost 7 percent year-on-year. While first quarter sales also reflected a $219 million increase in volume.
Richard J Kramer, chairman and chief executive of Goodyear, said “I’m very pleased with our outstanding first quarter results, they’re an excellent first step on our path to our 2013 targets.
“Improvement in North American Tire is a critical element to achieving our targets. North American Tire’s first quarter performance strengthens my confidence in our future,” he added.
“All of our businesses made great progress in offsetting higher raw material costs through improved price/mix and in driving sales of new, innovative products.”
Kramer added: “Our outstanding revenue-per-tyre performance reflects a continued focus on developing and selling innovative products in targeted market segments.”