CLERMONT-FERRAND, France (Oct. 26, 2000) — Steady growth in North America led the way as Group Michelin reported a 16.2-percent jump in sales in the third quarter, to $3.69 billion, and a 14.6-percent rise for the nine months to Sept. 30, to $10.6 billion.
Overall, the tonnage volume was up 6.6 percent for the nine months, and currency fluctuations accounted for nearly half of the sales growth, Michelin said.
In North America, the company´s sales of 4x4/light truck tires — impacted by the Firestone recall — jumped 27.1-percent, vs. the market growth of 16.8 percent.
Sales of speed-rated high-performance tires were up 17.4 percent, Michelin said, vs. the market rise of 9.9 percent.
On the other hand, original equipment sales of truck tires fell 29 percent during the third quarter and are expected to drop even further in the fourth period.
Despite rising prices and uncertain outlooks in certain markets, Michelin still expects year-end operating earnings to fall within a range of 7.3 to 9 percent of sales — on par with the firm´s half-year projection.