When reporting third-quarter results on Friday, Goodyear Tire & Rubber Co. said it expects tire sales volume to be down 3 percent to 5 percent in the fourth quarter, compared with a year earlier. Chairman and CEO Richard J. Kramer was asked about the forecast on a conference call with analysts.
QUESTION: How much visibility do you have on that forecast, and are you assuming it's industry-wide?
RESPONSE: It's almost the end of October right now, so we certainly have the view of how our business is going forward. I think really what we're getting is the best estimate of what we see from our basis on where the industry is headed right now. Our OE (original equipment on new cars) business in North America continues to stay robust. In North America I think we see volume decreasing. But for us our mix and our pricing mix continues to be very strong for us. Europe obviously continues to be a problem as we look at where that market's heading given the whole economic conditions there.