Michelin Nine-Month Sales Fall 0.5% to €19.18 Billion
Michelin reported nine-month sales of €19.18 billion at current exchange rates, down 0.5%. The company cited lower tyre volumes and a negative currency effect linked to the US dollar’s depreciation.
Michelin said Tuesday that sales for the first nine months declined 0.5% at current exchange rates to €19.18 billion ($21.54 billion). The French tyre maker attributed the decrease to lower tyre volumes and a negative currency effect associated with the weaker US dollar. ($1 = 0.8904 euros)