US retailer and tyre manufacturer, Goodyear, is closing Australian stores after facing weak trade in the country.

The Ohio-based business told investors on Friday that it was facing stunted growth in Australia and would close several retail facilities.

Richard Kramer, CEO, Goodyear Tyre & Rubber, said Asian trade was doing well bar the Australian and New Zealand region.

“The Australian mining boom has slowed down a little bit and the Australian economy, from a consumer perspective, has also slowed down a little,” he said.

Goodyear’s Australian operations have made up 40 per cent of the company’s Asian business since 2011.

The company ceased making tyres in Australia five years ago, when it closed its large Melbourne factory.

It closed a factory in Ballarat last year, costing 26 Australians their jobs, with further cut backs now expected.

Goodyear has 52 facilities in 22 countries, with its local stores a mixture of retail and autocare outlets.

Locally, its main competitor is the Australian-based retail and repair chain, Beaurepaires.