The Goodyear Tire & Rubber Co. reported $7.6 billion in sales for the first half of 2016, an 8% decrease from 2015’s first half reflecting the “unfavorable foreign currency translation” and the deconsolidation of Venezuala, the tiremaker claims.

The tiremaker reported similar currency issues in its 2015 first half results.

Tire unit volumes were up 2% from 2015 at 83 million, driven by growth in the Asia Pacific region. Replacement tire shipments were up 3%, and original equipment unit volume was down 1%. If the impact of the deconsolidation of Venezuela is excluded, unit volumes increased 3%, Goodyear said.

First half tire sales, units and segment operating income were down in the Americas segment (North America and Latin America) compared to first half 2015. Tire units were down to 36.8 million units compared to 39.2, sales were down to roughly $4 million from $4.6 million and segment operating income decreased to 551 million from 606 million.

Goodyear’s year-to-date net income of $386 million was down compared to the $416 million in 2015’s first half. According to the tiremaker, the decrease was due to a “one-time gain of $155 million ($99 million after-tax) on the recognition of deferred royalty income in 2015.”

The company also reported first half segment operating income of $950 million in 2016 is up from $938 million a year ago. Goodyear said the increase was driven by favorable price/mix net of raw materials and the impact of higher volume. These improvements were also partially offset by the deconsolidation of Venezuela, Goodyear adds.

“Industry fundamentals remain favorable across many of our key markets and demand for our premium, high-value-added tires is strong,” said Richard J. Kramer, Goodyear chairman and CEO. “Our focus remains on the disciplined execution of our strategy and delivering on our financial targets.”