Michelin : rather confident
Sales for the French manufacturer fell by 10.9% in the third quarter. A worldwide decrease in sales for the tyre market is partially to blame, as well as an increase in top-of-the-line tyre sales.
For Michelin, this phenomenon proves that the Michelin brand and pricing policy “perform well”. Michelin will rely on “an improvement in profitability” in the second six-month period, “thanks to a decrease in the price of raw materials”, which they quantify to 550 million euros at constant rates of exchange. Michelin also predicts for the second quarter “cheaper stocks” and confirms that 750 million euros will be invested this year.
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