Groupe Michelin posted net sales of $7 billion for the third quarter of its 2012 fiscal year ended Sept. 30, a 5.7% increase from the same period last year.
Sales rose 5.9% in the nine months to $20.8 billion, Michelin said, on the strength of higher pricing, improved selling mix and a positive currency effect. Tonnage volumes dropped 3.5% for the quarter and 6.7% in the nine months.
The tiremaker’s 3Q net sales by segment is as follows: consumer tires, 2.8 billion euros (up 5%); truck tires, 1.7 billion euros (up 2.7%); and specialty tires, 864 million euros (up 15.5%).
According to the tiremaker, global replacement demand for car and light truck tires is down 4% through the nine-month period, with sales down 3% in North America and 10% in Europe. Sales were up by 1% in Asia and South America. OE sales were up 8%, with a 19% increase in North America.
Replacement demand for truck tires was down 7% globally through the nine-month period, Michelin said, adding that OE demand dropped 4% globally.
Michelin stated it "confirms its guidance for full-year 2012, i.e., a clear increase in operating income before non-recurring items, with a 5% decrease in full-year sales volume, and around a 200-300 million euros favorable impact from raw materials in second half.”