Pirelli Confirms Higher Targets Despite Weakening Car Sales

Comments given by Pirelli & C Spa chairman Marco Tronchetti Provera indicate that targets for company’s tyre business remain slightly higher despite declining car sales in Western Europe. Speaking to reporters on June 30, Mr. Tronchetti Provera said Pirelli is “working on growing where there is a sustained demand, to improve the profit mix and to reduce costs. Therefore we believe we can meet our targets.”

Tronchetti added that, outside of Italy, Pirelli wanted to grow “a little bit everywhere and we also aim to continue our way across Europe” – perhaps reference to the June 4 letter of intent to build a car and truck tyre factory in Russia.