Michelin Sales Increase to $7 Billion in the First Quarter
Michelin Tire Company announced that its net sales for the first quarter of 2012 were 5.304 billion euros (7.015 billion US dollars), an increase of 5%.
Sales of passenger cars and light truck tires increased 2.9% year-on-year to 2.76 billion euros (about 3.65 billion U.S. dollars), sales fell 8.9% year-on-year; truck tire sales were 1.604 billion euros (2.12 billion U.S. dollars), and 2011 In the same period, the 1.606 billion Euro was basically flat with sales falling 16.63% year-on-year; sales of special-purpose tires business (including agricultural machinery tires, two-wheel vehicle tires, and aircraft tires, etc.) were 940 million Euros (1.24 billion US dollars), an increase of 23.8% over the same period of last year. .
The total sales volume of Michelin tires fell by 9.6% year-on-year in the first quarter. The main reasons for the decrease in sales volume during the first quarter were: the tire prices did not increase in the first quarter of 2011, which resulted in a larger sales volume and a relatively high base.
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