Clermont-Ferrand, France – Michelin Group has experienced a 6.3% year-on-year decline in its first-quarter sales at €5,218 million in 2018, the company announced 24 April.
For the first three months of 2018, the French tire-maker reported a fall in demand in passenger-car, light-truck and truck tire markets.
The reversal, it said, was due to lower OE demand for passenger and light vehicle tires in China and North America. Additionally, replacement demand was comparatively weaker due largely to a spike in buying early last year.
Volumes for all tires…