U.S. tire maker Goodyear Tire and Rubber Co. is predicting a slowdown in sales growth in the Asia Pacific region. This should match the reduction in sales in China, but are hoping to gain a larger market share.
Goodyear is predicting a 6% sales increase in 2006, as opposed to the 8.5% increase in 2005. The forecast was based on a slowdown in China growth. Car sales in China climbed by a fifth last year, as opposed to 15% in 2004 and near-doubling growth in 2003. The hope is for growth to stabilize between 15% and 20% in the coming years. The company said last year that it would invest $120 million to increase production at its Dalian plant to 5.3 million tires annually by 2007.Goodyear Predcits Slowdown in Asia Sales Growth
U.S. tire maker Goodyear Tire and Rubber Co. is predicting a slowdown in sales growth in the Asia Pacific region.
Mar 17th, 2006