Goodyear has quite a year ahead.
One that will be defined by both transition and growth as it enacts its Goodyear Forward plan, continues to innovate around sustainability and tailors solutions to some of the auto industries' biggest challenges.
Recently, the Akron-based tire maker shared its vision for the future of mobility and detailed some of the solutions it sees playing a critical role in the months and years ahead with Rubber News.
Here's what the company had to say.
What is happening with the OE and replacement tire segments in North America?
It's certainly an interesting time in our industry! On the OE side, we're seeing new vehicle sales continue to increase as production continues to ramp up and there's more new vehicle availability. OE inventories remain below pre-pandemic levels as the OEM's continue to navigate the post-COVID environment.
If new vehicles sales—while strong—remain below pre-pandemic levels, we do expect the aging car parc to continue to tilt in favor of the replacement market.
On that replacement side, we've experienced some volatility from the past few years into today. From our perspective, vehicle miles traveled continues to be the bellwether for the replacement tire industry.
What can we expect from OE going forward, especially as new electric models hit the markets?
Goodyear remains committed to our market-backed strategy, including supporting OEs as their business model shifts. We align with our OE partners to have the right innovative products support their vehicle production, including the growth of EVs and the >20" rim sizes.