Good year India made good progress in 2012 as we now work towards
reaching our long-term goal of creating sustainable economic
value—which can be achieved by being first with customers, the leader
in our targeted segments, the innovation leader and competitively
The economic slowdown which started in the second half of 2011
continued through 2012. This caused tremendous pressure on our market
growth, but your company made steady progress, particularly in the Farm
tyre business. This was because of our strong brand presence and
excellent products, which were supported by sound go-to-market
strategies. We were able to service our customers with their tyre
requirements in a timely and effective manner.
Good year India''s Farm business achieved a year-over-year volume growth
of 4.3%. Additionally, we also increased our market share compared to
the last year.
Overall, the business exhibited a strong performance which was backed
by robust manufacturing processes at the Ballabgarh factory, consistent
product quality and a highly dependable distribution support network.
We also need to give credit to our associates for sustaining the
business growth despite the adverse market conditions. I am proud of
our progress and also our Goodyear India team members!
Going forward, we have carefully assessed the market and the challenges
that we may have to encounter in 2013 and beyond. We are taking
proactive steps to keep the business performance robust and profitable
as we continue to grow our share of business in all channels.
Strategically, we shall remain focused on our key fundamentals such as
introducing market back innovations, operational excellence, targeting
profitable market segments, enabling our investments, and developing
top talent and teams. We shall continue to assess the market for growth
opportunities and look for ''white spaces'' which are untapped. I can
assure you that our team is fully committed to maintain the business
strong, profitable and value oriented.
I am also glad to share that in the recent past, your company has
received multiple awards from our esteemed customers, such as Best
Support For The Year (2012) from Hyundai Motors, Overall Performance
Award from TAFE, and Quality, Delivery & Capacity Award from EICHER.
I am thankful to you for your continued support. The confidence that
you have shown in us over the past several years has given us the
motivation and strength to achieve business excellence. I wish you and
your family the very best for 2013.
Vice Chairman & Managing Director
Goodyear India Limited