Oct 29 (Reuters) - Goodyear Tire & Rubber Co posted a 3 percent drop in quarterly profit, due to lower vehicle production in Latin America, particularly in Brazil.
Sales in the company’s Latin American unit, which contributes about 10 percent to Goodyear’s total revenue, fell to $451 million from $527 million.
Net income available to the company’s shareholders in the quarter ended Sept. 30 fell to $161 million, or 58 cents per share, compared with $166 million, or 62 cents per share, a year earlier.
Revenue fell 6.8 percent to $4.66 billion.
Reporting by Abinaya Vijayaraghavan in Bangalore; Editing by Tresa Sherin Morera