4. Kicking Michelin Tyres Shows Deflated Sales & Profits

Financial Times

Speed Read:

A lot of vehi­cles, par­tic­u­lar­ly lux­u­ry Euro­pean cars, roll around on Miche­lin tyres (aka as ‘tires’).

So how Miche­lin is doing finan­cial­ly has to be of inter­est to lux­u­ry cars deal­ers and suc­cess­ful deal­er GMs.

Kick­ing the Annu­al Finan­cial Report for “Air” in the Miche­lins:

  • First sales are down 6%; Prof­its are down 8%
  • The com­pa­ny talks about impact of cur­ren­cies (3.5% on prof­it)
  • Sales were flat, pro­duc­tion costs up, oper­at­ing mar­gins steady
  • Basi­cal­ly, com­pa­ny appears to be run­ning to stand still
  • Big poten­tial seems to earth­mover tyres, not BMWs
  • Over­all, expects 3% vol­ume increase in 2014
  • Cheers to BMW, MB, and lux­u­ry deal­ers

 

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