Michelin says that it is ‘poised’ to take its share of Europe’s 190 million tyre replacement market to 25% in 2002. The company estimates that its share of Europe’s 190 million tyre replacement market is currently running at 24%.
Michelin’s share position was revealed in a recent press interview given by Vincent Rousset-Rouvière, European Sales & Marketing Director for Michelin’s Car and Van tyre product line.
Mr Rousset-Rouvière said that the result has been achieved with market gains in ‘tough’ product segments: H, V and Z, plus 4×4 and winter tyres.
French bank BNP Paribas has recently upgraded Michelin from “neutral” to “outperform” status, prompting a rise in the Michelin share price on the French Bourse.