Goodyear Tire & Rubber Co.'s profit more than doubled in the third quarter, helped by cost-cutting, new products and lower raw-material costs, the largest U.S. tiremaker said Wednesday.
The performance marked a reversal by Goodyear, which had reported $554 million in losses in the first six months of the year as the recession staggered the automotive industry.
The company, based in Akron, said it expects year-over-year global industry growth in 2010 and said its new products, especially high-end tires, and cost-cutting would give it the opportunity to capitalize on the opportunity.
"The strength of our brands and steady stream of new and …
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