Michelin Sales Up, Revenue Down

Michelin’s third quarter figures reveal that revenue during the quarter fell 3.2 per cent. However, ignoring currency exchange rate variations, sales increased by 2.

7 per cent. Sales for 3Q were 3.86 bn Euros.

In unit terms, Michelin’s passenger car tyre unit volume sales in Europe increased by 2.5 per cent (replacement sales + 8 p.c, OE sales -8 p.

c). In the USA, car tyre unit replacement sales fell 5 per cent, OE sales rose 11 per cent. Latin America and Asia showed double digit growth in both replacement and OE volume.