Clermont-Ferrand, France – Groupe Michelin expects passenger car & light truck tire markets to decline by 1% year-on-year for the full year 2019.
A modest 1% growth is anticipated in the replacement segment, the company said in its quarterly report 25 July.
This, however, will fail to offset an expected 4.4% contraction in the OE segment, the French tire maker added.
Michelin also anticipates that the truck tire markets will decline more quickly in the second half, to end the year down 2%.
Mining and aircraft tire markets should continue to expand, offsetting the steep drop in agricultural tire markets and in original equipment demand in construction tire markets.
As previously announced, Michelin estimates the full-year impact of raw materials costs and customs duties at around a negative €100 million.
Michelin has confirmed its guidance for 2019, with volume growth in line with global market trends.
Operating income, Michelin expects, will exceed the 2018 figure at constant exchange rates and before the estimated €150 million contribution from Fenner and Camso.