Goodyear inflates local sales goal past 12%

Goodyear inflates local sales goal past 12%

The SET-listed Goodyear (Thailand) Plc (GYT) plans domestic sales growth of more than 12% this year, driven by active marketing and dealership expansion.

Managing director Suttipong Wannawanit said operating revenue from Thailand and other Asia-Pacific countries is projected to beat the 12% goal set by its US parent thanks to strong regional economic growth.

The Ohio-based Goodyear Tire & Rubber Co expects to achieve segment operating revenue of between US$1.4 and $1.5 billion this year, up by more than 12% from last year.

Goodyear is one of the world's largest tyre companies, employing 69,000 people and manufacturing its products at 52 facilities in 22 countries including Thailand.

Goodyear's two innovation centres, in Akron, Ohio and Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services for the industry.

"Goodyear is focusing on seven countries in Asia including Thailand, as it is a strategic market on par with North and South America," said Mr Suttipong.

The local unit achieved revenue of 4.76 billion baht last year, up from 4.14 billion in 2011, for a net profit of 892 million compared with a net loss of 120 million.

He said the domestic market is expected to contribute half of company revenue, with the rest generated from exports to Asean, Australia and New Zealand.

The domestic market includes original-equipment manufacturers for car makers such as Honda, Toyota and Ford and replacement tyres through Goodyear dealerships.

"Goodyear (Thailand) is committed to using active marketing through advertisements and brand ambassadors to raise local sales," said Mr Suttipong.

Recently, GYT introduced new 15- to 20-inch tyres for sport-utility vehicles called Efficient Grip to serve 10 SUV brands, priced from 3,700 to 10,000 baht.

New tyres for passenger cars will be launched around mid-year.

The company plans to add 10 more dealerships nationwide dubbed Goodyear Autocare to the present 28.

Shares of GYT closed yesterday on the Stock Exchange of Thailand at 448 baht, down 12 baht, in light trade worth 960,000 baht.

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