Positive business signals from most major tire makers

London - Pressure on volumes, and in some cases margins, were the main features of business results issued by major tire manufacturers over the early months of 2024.

Meanwhile, share-price trends indicate continuing investor confidence in the full-year prospects of some majors, particularly Bridgestone, Michelin, Pirelli and Sumitomo Rubber Industries.

Key to this positivity is the perceived ability to develop sales of higher-value tires while also managing pressure on costs such as raw materials, energy and wages. 

However, a first-quarter pick-up in Goodyear's earnings was not, as yet, enough to convince markets about the effectiveness of the US group’s ongoing streamlining strategy.

Hankook’s share price also dipped - from a mid-April peak of around KRW63,000 - despite an impressive rise in operating earnings (ERJ report) at the Korean tire maker.