Goodyear Tire & Rubber Company has reported its first quarter 2025 results, showing progress in its transformation strategy despite mixed financial performance.

The tyre manufacturer posted net sales of USD 4.3 billion, with tyre unit volumes reaching 38.5 million. The company recorded a net income of USD 115 million (40 cents per share), compared to a net loss of USD 57 million (20 cents per share) in the same period last year.

However, after adjustments, Goodyear reported a net loss of USD 11 million, or 4 cents per share, contrasting with adjusted net income of USD 29 million, or 10 cents per share, in Q1 2024.

The quarter’s results included several significant items, notably an estimated USD 260 million gain from the sale of its Off-the-Road (OTR) tyre business, completed in February 2025. This was partially offset by USD 81 million in rationalisation charges and USD 7 million in costs related to the company’s Goodyear Forward transformation initiative.

Segment operating income totalled USD 195 million, representing a USD 52 million decline year-on-year. After adjusting for the OTR business sale, the decline was USD 40 million, which the company attributed primarily to higher raw material costs.

“Our team kicked off the year by delivering the strongest quarter to date in benefits from Goodyear Forward and advanced our goal of building a high-performance culture that is designed to win,” said Chief Executive Officer and President Mark Stewart. “With the sale of the Dunlop brand, we are further optimising our portfolio while strengthening our balance sheet – a critical component of our transformation plan. We remain committed to our targets, including segment operating margin of 10 percent and leverage of 2.0x-2.5x in the fourth quarter of this year.”

The company reported that its Goodyear Forward programme delivered USD 200 million in benefits during the quarter. However, these gains were more than offset by USD 113 million in unfavourable pricing versus raw material costs, USD 56 million in inflation, USD 33 million in lower tyre volume, USD 19 million in unabsorbed fixed costs, and USD 12 million in unfavourable foreign currency translation.

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Chennai-headquartered tyre major Apollo Tyres has announced the appointment of Mahalakshmi Ramaswami as its new Chief Human Resources Officer effective immediately, the company said in a regulatory filing.

Ramaswami’s appointment was approved by the board of directors following a recommendation from the Nomination and Remuneration Committee.

Prior to joining Apollo Tyres, she most recently served as the Head of HR for the Southeast Asia Cluster based in Singapore at Mondelez International.

She brings over two decades of experience across multinational organisations spanning fast-moving consumer goods, telecommunications, pharmaceuticals and consulting sectors.

During her tenure at Mondelez, Ramaswami is credited to have a played pivotal role as the HR Director for India Region in the business turnaround by aligning people strategy with organisational objectives.

She also has held leadership roles at prominent Indian and multinational companies including Bharti Group, Ranbaxy, Ballarpur Industries and EY.

Ramaswami holds an MBA from IMT Ghaziabad and a Bachelor’s degree in Physics (Hons.) from Delhi University.

On the other hand, as part of the Management Restructuring at Apollo Tyres, Dipankar Ghosh, Group Head of HR Business Partnership for Manufacturing & Projects, will no longer be part of the senior management structure as defined under securities regulations, effective 16 July.

The restructuring reflects Apollo Tyres’ strategic focus on strengthening its human capital capabilities as the company navigates competitive pressures in both domestic and international markets.

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Bridgestone India has presented the European Alignment Certificate to the Automotive Research Association of India (ARAI), recognising the successful completion of their Rolling Resistance (RR) Lab Alignment. The certificate was presented to Dr Reji Mathai, Director of ARAI, by Rajarshi Moitra, Deputy Managing Director of Bridgestone India, during a ceremony attended by senior leaders from both organisations.

This milestone strengthens the partnership between Bridgestone and ARAI, India’s leading automotive R&D institution for testing and standardisation. Rolling resistance plays a crucial role in enhancing fuel efficiency, aligning with both organisations’ commitment to advancing tyre technology. The certification underscores their shared dedication to fostering innovation, improving testing capabilities and promoting sustainable mobility solutions in India.

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Yokohama Rubber has been recognised for its sustainability leadership with continued inclusion in three prestigious FTSE Russell ESG indexes. The company marks its 21st consecutive year on the FTSE4Good Index Series, a global benchmark for responsible investing. Additionally, it maintains its ninth straight year on the FTSE Blossom Japan Index and fourth year on the FTSE Blossom Japan Sector Relative Index – both key indicators of Japanese ESG excellence endorsed by Japan's Government Pension Investment Fund (GPIF).

These indexes, developed by London Stock Exchange Group's FTSE Russell, help investors identify companies with strong environmental, social and governance (ESG) performance. Yokohama Rubber's sustained inclusion reflects its long-term commitment to sustainable business practices.

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The fourth round of the 2025 Lamborghini Super Trofeo Asia Series, a racing competition hosted by Italian supercar brand Automobili Lamborghini S.p.A and powered by Hankook Tire, will take place from 18 to 20 July at INJE SPEEDIUM in Gangwon Province. As the exclusive tyre supplier, Hankook Tire continues to elevate Korean motorsports through its partnership with Lamborghini, showcasing its high-performance Ventus racing tyres on the Huracán Super Trofeo EVO2.

The 3.91-km INJE SPEEDIUM circuit, featuring 19 corners and a 40-metre elevation change, demands exceptional tyre performance under extreme conditions, including high-speed straights and scorching summer temperatures. Hankook’s Ventus tyres are engineered to deliver superior grip, durability and heat resistance, ensuring peak performance in challenging racing environments.

Beyond the races, Hankook will host the ‘Ventus Experience’, inviting European automotive influencers to test the Ventus Super Sports line and explore its advanced R&D facilities.

The 2025 Lamborghini Super Trofeo spans Asia, Europe and North America, with six rounds per series. Top contenders will advance to the Grand Final in Misano, Italy, this November, competing for the season championship.

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