Michelin cuts 2018 forecasts as tire markets slow

Clermont-Ferrand, France – Groupe Michelin has issued a downward revision of its 2018 business forecasts in response to an unexpected weakening in trading conditions.

In particular, there has been a substantial slowdown at the end of third quarter in both passenger car and truck markets, the French tire maker reported 18 Oct.

Volume declines linked to price increases – introduced to offset currency-depreciations in emerging markets – continued into the final quarter, Michelin added in presentation to investors.

Michelin now expects growth in the passenger car & light…

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