Autos

Goodyear CEO says company has supply to blunt looming rubber shortage

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Goodyear Tire & Rubber CEO Rich Kramer told CNBC Tuesday that he doesn’t expect a looming shortage in rubber to hurt the tire manufacturer.

Concerns over a low supply of rubber, made from rubber trees mostly grown in Southeast Asia, is the latest problem facing automakers already struggling with a lack of semiconductors.

When asked if the company has enough of the material to produce tires for cars, Kramer said, “short answer is: We do.”

“Essentially what you see happening is … either speculation or it’s a lot of even China [putting] rubber in warehouses,” Kramer said in an interview with Jim Cramer on “Mad Money.”

“It’s something that’s always out there, a lot of speculation going on,” he…



Source cnbc.com

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