Groupe Michelin’s net sales are down year over year (YoY) according to its recent first half financial reports. The tiremaker reported net sales of €10.29 billion for 2016 verses €10.49 billion in 2015.
There are a variety of things that have impacted this number, according to Michelin. This includes the 2.1% negative impact of price-mix, 2.8% negative currency effect and 2.5% increase in volumes.
Net sales and volumes for passenger and light truck tires were both up in the first half of 2016. Sales were up to €5.91 billion in 2016 verses €5.86 million in 2015. Additionally, Michelin reported a 2% increase of replacement and OE volumes globally, with a 3% increase in OE and a 2% increase in replacement for the North American market.
Commercial truck tire net sales were down globally for the first half at €2.90 billion verses €3.06 billion in 2015. Additionally, globally OE truck tire volume was down 1%, with a negative 12% for the North American market. However, in North America truck tire volumes were up 2% YoY.
