Goodyear to Launch FUELMAX PERFORMANCE & Proactive Solutions
The Goodyear Tire & Rubber Company GT is planning to launch FUELMAX PERFORMANCE at IAA Commercial Vehicles 2018. FUELMAX PERFORMANCE tires are the first Goodyear truck tires, based on the full silica tread compound technology. These are the most fuel-efficient tires to date.
This new tire range has been accorded EU tire label grade ‘A’ for fuel efficiency and fulfills all the requirements of Three Peak Mountain Snow Flake (“3PMSF”) winter tires. These tires can help long-haul fleets to maximize fuel savings and in turn aid truck manufacturers to fulfill increasingly tougher EU CO2 norms.
Additionally, two Goodyear Proactive Solutions mobile phone apps will be exhibited. These offer extra benefits to drivers and fleet managers. These two new features — FUELMAX PERFORMANCE tires and Goodyear Proactive Solutions — are crucial for optimizing performance, and lowering total costs of emissions and ownership.
Using full silica compound tires, a long-haul fleet of 100 vehicles could save up to 214,000 liters of diesel in a year. Further, this can lower 557,000 kg of CO2 emission, thereby, resulting in fuel cost savings of up to €290,000. Moreover, Goodyear Proactive Solutions and other services are essential for optimizing the full potential of tires to raise profits, and lower emissions.
Over the past six months, shares of Akron, OH-based Goodyear have underperformed the industry it belongs to. The stock has declined 14.3%, wider than the industry’s decrease of 11.2%.
Zacks Rank & Key Picks
Goodyear currently carries a Zacks Rank #4 (Sell).
A few better-ranked stocks in the auto space are Fox Factory Holding Corporation FOXF, Allison Transmission Holdings, Inc. ALSN and Oshkosh Corporation OSK. While each of Fox Factory and Allison Transmission sports a Zacks Rank #1 (Strong Buy), Oshkosh carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Fox Factory has an expected long-term growth rate of 16.8%. Over a year, shares of the company have soared 67.4%.
Allison Transmission has an expected long-term growth rate of 10%. Over the past year, shares of the company have surged 47.4%.
Oshkosh has an expected long-term growth rate of 18.3%. Over the past three months, shares of the company have risen 6.5%.
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