Michelin Reports 10% Sales Boost for First Quarter

(Akron/Tire Review) Groupe Michelin reported a consolidated net sales increase of 10.2% for the first quarter of 2006, up due to higher sales volumes, improved pricing mix and reduced impact from currency fluctuations.

Published: April 26, 2006

But Michelin did not state its first quarter earnings. The company did say that “raw material costs (for natural rubber in particular) experienced a further massive increase” in the first quarter. This prompted the company to up its forecast for an anticipated 15% increase in raw materials costs, up from 11% stated earlier – a difference of 170 million euros.

Without giving much in the way of specifics, Groupe Michelin said its passenger and light truck/SUV tire sales in North America “were below market trends” and that pricing improved due to price increases earlier this year. On the medium truck tire replacement side, Michelin said its North American share increased slightly, and that its price increases “are sticking.”

How Lucid Motors leverages tire manufacturer partnerships to drive sustainable innovations

The automotive industry is leveraging supplier partnerships to overcome common sustainability challenges.

By David Sickels

David Sickels is the Editor of Tire Review. He has a history of working in the media, marketing and automotive industries in both print and online.

Published: April 26, 2024

How can tire manufacturers better work with OEMs when their missions align? That was the emphasis of a conversation between Katelyn Margetson, Michelin's vice president of consumer marketing for consumer products in North America, and Andrea Soriani, vice president of marketing and communications for Lucid Motors, during Michelin’s Sustainability Summit held at the Sonoma Raceway in California.