Yokohama acquires Goodyear's off-road tire business

Yokohama is set to acquire Goodyear's off-highway tire business for $905 million, with the deal expected to be finalized by early 2025. This acquisition aligns with Yokohama's growth strategy for the off-road tire market, which it views as more promising than the consumer tire sector. The global off-road tire market is estimated at approximately €23.4 billion and is projected to grow at an annual rate of 6%, significantly higher than the 2% annual growth forecast for the consumer tire market.