High and hard, like a Bob Gibson brush-back pitch.
Continental AG’s consolidated sales fell 35.2%, driven, the company claimed, by further declines in U.S. and European auto production.
Goodyear racked up a $333 million loss for the quarter on a 30% drop in sales dollars and a 20% decline in unit sales. “Lower global industry demand,” Goodyear said, was the culprit.
Goodyear North America saw sale dollars fall off 22.7% and negative profits of $189 million. Units were down nearly 22%.
Across the pond in France, Groupe Michelin saw first quarter sales fall off by 14.2%, again the victim of decreased global demand.
Bridgestone has yet to report on its first quarter, but you can bet it will be more of the same.
And current thinking, at least among folks I have spoken to, is that the rest of 2009 isn’t looking much better. Ugh!
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Jim Smith