Groupe Michelin posted a 28% increase in sales year-over-year for the first quarter.
The tiremaker reported net sales for the quarter of $7.37 billion, ahead of analyst predictions.
The sales boost came even as Michelin had raised tire prices against rising raw material costs. Newly minted CEO Jean-Dominique Senard said Michelin would continue to be aggressive in price hikes due to raw material issues.