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Goodyear sales drop in Q2

US based global tyre manufacturer, Goodyear Tire & Rubber Company has posted a negative growth second quarter sales at $4.7 billion ending June 30,

During the same period last year, the company sales were recorded at $4.9 billion.

However, tyre unit volumes totaled 40.6 million for the second quarter of 2014, up 3% from 2013 and replacement tire shipments were up 6% with growth in all four regions, the company statement said.

“We delivered record second quarter results, driven by strong consumer replacement volumes in all of our regions where our new products are in demand,” Richard J. Kramer, chairman and chief executive officer said.

Original equipment unit volume was down 4%, primarily in Latin America.

The company reported record segment operating income of $460 million in the second quarter of 2014. This was up 7% from the year-ago quarter driven by significant improvement in Europe, Middle East and Africa, which more than offset softness in emerging markets.

The North American business continued to perform at record levels with segment operating margin of more than 10%.

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