Skip to main content
Sister Publication Links
  • Rubber & Plastics News
Subscribe
  • My Account
  • LogIn
  • News
  • Technology Focus
    • Features
    • Technical Papers
    • Analysis: Rubber mixing plants of the future
      Analysis: US probes dumping by ESBR suppliers
      Opinion: Tire labels stuck in a rut
      Analysis: NR pricing takes one step forward, two steps back
    • White paper: Role of tire innerliners in improving 'in-use rolling resistance'
      White paper: Why tire air retention matters now more than ever
      Nippon Soda: Use of 1,2-polybutadiene in CSM rubber applications
      Elastomers for Sustainability Top 10
  • Events
    • ERJ Events
    • ERJ Livestreams & Webinars
    • Industry Events
    • Journey to Automation Awards 2020
      Sustainability: Top 10 E4S projects table
  • Maps & Reports
  • People
  • Directory
  • Digital Edition
  • Brainiac
MENU
Breadcrumb
  1. Home
  2. News
October 26, 2020 07:54 AM

Michelin sees third quarter "upturn" in global tire demand

ERJ Staff
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    Clermont-Ferrand, France – Michelin has seen an ‘upturn’ in demand for tires in the third quarter, following a steep decline caused by the Covid-19 pandemic in the second quarter of the year.

    Group sales fell 16.8% year-on-year to just under €15 billion for the first nine months of the year, with a decline of 5% in the third quarter, said Michelin 22 Oct.

    Demand for passenger car and light truck tires fell 16.2% over the first nine months to €7.2 billion, with the decrease slowing down in the three months to end of September.

    Nine-month volumes for the segment fell 17% year-on-year, with a 6% decline in the third quarter “demonstrating a robust quarter-on-quarter upturn.”

    Truck tire markets were down 20% during the nine-month period with sales coming in at €3.8 billion. 

    In terms of volumes, the segment saw a strong original equipment (OE) demand in China and Asia, which limited third-quarter decline to 6%.

    In the speciality tire businesses, which include two-wheeler, mining, farming and aircraft tires, Michelin noted a recovery in agricultural tire sales and a rebound in the two-wheel segment.

    The improvements, it said, helped offset a slowdown in the mining business. "which felt the effects of the [Covid-19] health crisis with a lag of a few months."

    Michelin also noted a 1.7% currency impact on sales, which it said was offset by improvements in price-mix and share gains in the 18-inch and larger tire market.

    The French group did not disclose details of its earnings development.

    RECOMMENDED FOR YOU
    Trelleborg acquires Dutch composite hose supplier
    Trelleborg acquires Dutch composite hose supplier
    Conti hose & line unit zeros in on low-emission mobility
    Conti hose & line unit zeros in on low-emission mobility
    Cabot expands sustainable rubber operations in Malaysia
    Cabot expands sustainable rubber operations in Malaysia
    Free Newsletters

    Breaking news and in-depth coverage of essential topics delivered straight to your inbox.

    Subscribe today

    Get the latest news impacting the European rubber industry, from breaking news to razor-sharp analysis, in print and online.

    Subscribe now
    Connect with Us
    • LinkedIn
    • Twitter
    • Youtube

    Logo
    Contact Us

    @ 2019 European Rubber Journal. 
    European Rubber Journal is published bi-monthly by NUERJ Ltd.

    Registered Office: Castle House, 89 High Street,
    Berkhamsted, Hertfordshire HP4 2DF, United Kingdom. 

    Tel. + 44 (0)203 196 0141 

    Registered No. 13104613 England

    Email: [email protected]

    Website www.european-rubber-journal.com

    Customer service 

    Tel. + 44 (0)203 196 0141 

     

    Resources
    • About us
    • Contact Us
    • Advertise with Us
    • Media Kit
    • Ad Choices Ad Choices
    • Sitemap
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Copyright © 1996-2021. Crain Communications, Inc. All Rights Reserved.
    • News
    • Technology Focus
      • Features
      • Technical Papers
    • Events
      • ERJ Events
      • ERJ Livestreams & Webinars
      • Industry Events
    • Maps & Reports
    • People
    • Directory
    • Digital Edition
    • Brainiac