Rich Kramer, CEO of Goodyear Tire & Rubber, told CNBC on Tuesday he did not expect the tire shortage to affect tire makers.
Concerns about the low supply of rubber, made from rubber trees, mostly grown in Southeast Asia, are the latest in a string of problems automakers face a lack of semiconductors.
When asked if the company has enough materials to produce tires, Kramer said, “The short answer is we do.”
“Basically what you see happening is … either guesswork or even China. [putting] The tires in the warehouse, ”Kramer said in an interview with Jim Cramer on“ Mad Money ”.
“It̵7;s always happening, there is a lot of speculation going on,” he added. “I cannot say at all about what might happen to rubber trees in Southeast Asia. But that’s not a problem for us and the team has handled it excellently. ”
Goodyear shares were up 3 percent on Tuesday before closing at $ 18.28.