German automotive supplier Continental AG said on Tuesday that the European truck tyre market is on the rebound.
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In an interview with Reuters, the company’s head of its truck tyre operations said that the market has improved since September 2003, and the trend has continued at a brisk pace so far this year.
“In our initial sales of truck tyres in Europe, we had a plus of more than 20 percent in January and February over the previous year,” Continental management board member Hans-Joachim Nikolin told Reuters, adding: “The even bigger business of replacement tyres for trucks has also been positive.”
Reuters said that Continental will increase prices slightly for its truck tyres this year and noted that the division generated revenues of roughly €1.3 billion ($US1.60 billion) in 2002, or about 12% of group sales.
