Michelin Q1 results buoyed by high sales ahead of price rises

Clermont-Ferrand, France – French tire-maker Michelin has announced a 10% rise in sales in the three months ended 31 March, with a 7.3% increase in volumes.

In a 20 April statement, the company said sales rose to €5.6 billion, due in part to replacement demand growth ahead of price increases.

In early February, Michelin announced price increases of up to 8% for the passenger car & light truck, truck, earthmover, agricultural and two-wheel vehicle tire. The price rises will be effective by the end-April 2017.

The company observed…

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