Michelin sales drop, guidance down, results supported by replacement car tyre demand

Compagnie Générale des Établissements Michelin has reported that group sales fell to 20.171 billion euros in the first nine months of 2024, down 4.6 per cent compared with the same period in 2023. Within that group figure, Michelin’s Specialty tyre business was hit hardest, with sales down 9.1 per cent in the period to 4.882 billion euros (2023: 5.368 billion euros). At the other end of the spectrum, the Automotive segment – car tyre sales – was least affected by the overall decrease in turnover, with nine-month sales down 2.4 per cent to 10.356 billion euros (2023: 10.611 billion euros).