Goodyear hints worst is over

The economic downturn has not deterred tyre manufacturing giant Goodyear from launching new products and expanding its existing range.

The company also suggested that the rate of economic decline might have begun to even out.

In a press conference at Intermat 2009, Hubert Moquet, director of the company’s newly-created industrial division, said general economic indicators were the worst seen since 1993.

“But the fall in consumption seems to have stabilised,” he added, pointing to the fact the company had registered a growth in sales of 0.2% in France in March compared to the start of the year.

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According to Moquet there has, nevertheless, been a significant fall in activity levels in all industry sectors.

“There has been a freeze in investments and prices are being squeezed,” he explained.

Demand in the civil engineering sector has been particularly badly hit. Overall, the company recorded tyre sales down only 5% in 2008 compared to 2007. However, this had to be qualified by the scale of the decline in sales in the first quarter of 2009, Moquet added.

According to the company, the sector was down 50% compared to the same period in 2008.

Economic problems notwithstanding, the company used the show to unveil nearly a dozen new products or extensions to existing ranges. “In a difficult economic context, 2009 will still be a year rich in product innovations,” he concluded.

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