Conti hits 2018 target despite market decline

Hanover, Germany – Continental has achieved its 2018 sales and earning targets despite declining automotive markets, the company announced 14 Jan.

Operating performance, it said, came in as expected in the fourth quarter, which also saw strong sales of winter tires and the positive market development in industrial markets.

“We achieved a respectable result and achieved our adjusted annual targets. We are continuing to grow profitably,” said Continental CEO Dr. Elmar Degenhart.

However, automotive market decline had “intensified significantly” in the fourth quarter,” according to the Continental group…

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