Goodyear's 2012 sales decreased 8% year-on-year

Goodyear Tire & Rubber Company announced the fourth quarter and full-year sales in 2012. Goodyear’s fourth quarter sales in 2012 were US$5 billion, a decrease of 11% compared to the same period in 2011, of which tire sales in the fourth quarter of 2012 amounted to 40 million, a 7% decrease from 2011, mainly Reflected in the reduction of sales in Europe. Thanks to the continuously optimized product pricing system and product mix, the single-quarter profit rose by 1% in the fourth quarter compared with the same period in 2011 after removing the impact of exchange rates. Goodyear’s operating income for the fourth quarter of 2012 was US$272 million, an increase of 39% compared to the same period last year.

Goodyear's annual sales in 2012 reached 21 billion U.S. dollars, which was 8% lower than last year, which was mainly affected by the foreign currency exchange rate, other tire-related businesses, and the decline in sales of third-party chemicals in North America. The product pricing and product mix achieved remarkable results. After eliminating the impact of exchange rates, the single-unit profit for the whole year of 2012 increased by 8% compared with the same period of 2011.

Goodyear’s 2012 annual operating revenue was nearly US$1.2 billion, a decrease of 120 million compared to 2011 operating income. Compared with last year, the operating loss this year was mainly due to the relatively weak economic situation in Europe, and therefore the progress made with the tire business in North America was largely offset. Compared with 2011, improvements in product pricing and product mix still contributed $1 billion in revenue, offsetting the cost of rising raw material costs.

Richard J. Kramer, Goodyear’s president and chief executive officer, said: “Our revenue in 2012 exceeded US$1.2 billion. Although the macroeconomic situation is still very severe, we have continued for the second year in a row. I was very proud to have succeeded in meeting the challenges. It all benefited from the outstanding performance of the North American tire business and, more importantly, the business development in the region will be stable and sustainable."

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