Michelin reduces growth outlook, posts lower Q3 sales

23rd October 2014 | 1 Comment
 

In response to slowing emerging markets (excepting China) as well as economic and geopolitical uncertainties, Michelin has lowered its full-year volume growth outlook from three per cent to between one and two per cent. The French tyre maker says the market slowdown observed since the second quarter of this year continued into the third. In addition to contracting original equipment demand from emerging markets apart from China, demand also weakened in Europe, particularly for truck tyres. Overall sales volumes rose by one per cent during the third quarter, with price-mix effect a negative two per cent.

The rest of this article is for subscribers only:
Log inSubscribe

Tags: ,

Category: Company News

Buy subscriptions, premium industry reports, and business directory entries in our shop. | Dismiss

[ + ]