Market slowdown dents Michelin’s expectations

Paris – The market slowdown observed since the second quarter continued into the third, noted  Group Michelin, announcing €14.6 billion in net sales and a 1 percent Increase in volumes for the first nine months of 2014.

Weakening demand in Europe, especially in truck tires and a contraction in OE demand in new markets, except China, put the dampers on growth. These factors, said Michelin, countered sustained solid growth in North America.

Slightly higher sales volumes reflected “resilience of the Michelin brand” in the passenger car and…

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