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Goodyear Tire CEO says firm has sufficient provide to blunt looming rubber scarcity

Goodyear Tire & Rubber CEO Wealthy Kramer instructed TSTIME Tuesday that he does not count on a looming scarcity in rubber to harm the tire producer.

Considerations over a low provide of rubber, constructed from rubber timber largely grown in Southeast Asia, is the most recent drawback going through automakers already battling a scarcity of semiconductors.

When requested if the corporate has sufficient of the fabric to provide tires for vehicles, Kramer stated, “brief reply is: We do.”

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“Primarily what you see taking place is … both hypothesis or it is loads of even China [putting] rubber in warehouses,” Kramer stated in an interview with Jim Cramer on “Mad Cash.”

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“It is one thing that is all the time on the market, loads of hypothesis occurring,” he added. “I can by no means say by no means about one thing that would occur to southeast Asian rubber timber, however that is actually not been an issue for us, and the workforce’s been managing it brilliantly.”

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Shares of Goodyear rose 3% on Tuesday earlier than closing at $18.28.

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