Pirelli cuts 2019 forecasts as markets decline

Milan, Italy – Pirelli & C. SpA has revised down its financial outlook for 2019, on continuing weakness in the OE market and competitive pressures on prices in the ‘standard’ tires segment.

In its quarterly financial statement issued 1 Aug, the Italian consumer tire producer said it expected the market to fall by 1.2%, versus a previous estimate of flat growth.

The company now expects the standard products segment to decline -2%, while new premium tires (rim sizes of 18” and above) is anticipated to grow by…

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