Pirelli reports 20% 1Q sales decline

Pirelli & C. S.p.A reported revenues of 1,051.6 million euros in the first quarter of Q1 2020 ended 31 March 2020. This represents a decline of 20 per cent compared to the same period in 2019.

Associating the fall with the impact of Covid-19, Pirelli explained that demand for car tyres was down 20 per cent in sales’ volumes, in both the OE and replacement sectors.

However, Pirelli reported that the experience gained in China, where production and commercial activities are returning to normal, enabled the company to respond quickly.