November’s Market Worse Than October’s, Says Michelin Data
The report published by Morgan Stanley Research Europe says it all: “If investors thought tyre data was poor in October, it just got worse…” What this memorable sentence refers to is data released by Michelin on December 18, which shows the supposedly more resilient passenger car tyre replacement market to be down in Europe 10.3 per cent in November, and in North America by a hefty 20.2 per cent. OE sales in the segment dropped a spectacular 33.5 per cent in Europe and 31.2 per cent in North America.