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