Michelin sees sales volume down by 24% in Q1

ERJ staff report (DS)

Paris — Michelin said it sold almost 25 percent fewer tyres in the first quarter of 2009, compared with a year earlier. Nevertheless, revenues were down by “only” 14.2 percent, at euro 3512 million for the group, compared with euro 4091 million a year ago.

The company said sales volume fell largely as a result of the significantly lower OE sales in car and OE and replacement sales in truck markets throughout the world, with the exception of China. It also noted that…

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