Michelin reports 4.6% lower Q1 2024 sales

Michelin Group has disclosed its financial results for the first quarter of 2024, reporting total sales amounting to €6,642 million. This figure marks a decline of 4.6 per cent compared to the corresponding period in the previous year. The decrease in sales can be attributed to various factors, including a decline in tyre volumes, driven by weaknesses in certain markets, including construction and agricultural tyres, as well as mining tyre inventory drawdowns.