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Why Shares in Goodyear Slumped 20% This Week

Why Shares in Goodyear Slumped 20% This Week

Shares in Goodyear Tire & Rubber (NASDAQ: GT) were down more than 20% on the week as of the market close on Thursday afternoon. Meanwhile, this was supposed to be the year when car production ramped up, and raw material cost inflation subsided for Goodyear. Raw material inflation continued to surge, and management now expects raw material inflation to peak in Q4 with a $500 million increase to the same period last year and a further $300 million to $400 million increase in the first half of 2023.