Michelin Group has posted third quarter net sales down 4.6% to EUR4.9bn (US$6.2bn).
For the first nine months of this year, Michelin unveiled EUR14.6bn of net sales, down 4.7%, with a 1% increase in volume.
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The company noted a market slowdown observed since the second quarter continued into the third, while there was weakening demand in Europe, especially in truck tyres.
There was contraction in original equipment demand in new markets, except China, although Michelin reported “solid growth” in North America.
