Conti ‘intensively’ monitoring European tyre demand and production, but R&D budgets intact
Following Continental’s first quarter 2020 financial results and reports that the company is preparing to cut its R&D budgets and European tyre production, Tyres & Accessories asked executives at the company’s Hanover, Germany headquarters to comment on the proposals. According to the tyre manufacturer, Continental is “intensively” monitoring European tyre demand and production “including a review of our tyre manufacturing footprint if we conclude that volumes will not recover to expected volumes”. Furthermore, there may have been reductions in tyre testing frequency as an inevitable result of social distancing, but overall research and development budgets remain intact.