Michelin Reports Increase in Overall 3Q Net Sales

(Akron/Tire Review) Groupe Michelin reported an increase of 4.5 per cent in net sales for the current third quarter, compared to the third quarter of 2004. In North America, the passenger and light truck tyre replacement markets experienced a 2.6 per cent growth year to date September 2005, compared to 2004, Michelin reported.

“This market turned however flat in September 2005,” the tyremaker added. Growth was fuelled mainly by the high-performance segment, which posted an increase of 15 per cent, according to Michelin.

Additionally, in North America, truck replacement and retread markets increased 1.1 per cent year to date September 2005 compared to last year.

“However, most of the growth stems from the first-quarter boost provided by truck OEMs purchasing replacement tyres due to the lack of tyres on the OE market,” reported Michelin.

The tyremaker also reported that group replacement sales growth in North America was slightly below market growth on a year-on-year basis, due mainly to a decline in private and associate brand tire sales.

Michelin said it would release 2005 net sales on 10 February and 2005 earnings on 1 March.