Michelin-tires-generic

Tire makers see results dip as materials costs bite

London – Major tire makers in Europe, and elsewhere, have seen first-half results dip over the first six months of this year, as a hike in first-quarter sales subsided in the following quarter.

In France, Groupe Michelin’s passenger car tire sales in the second quarter of 2017 was dampened by heavy buying in the first quarter ahead of planned price increases.

For the six months to 30 June, Michelin registered a stable operating income at €1.4 billion, and net income of €863 million, up 12% compared to…

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