PARIS (April 26, 2005) — Group Michelin reported slightly higher sales revenue for the first quarter despite lower European sales volume.
Michelin credited increased prices and improved product mix for the 1-percent increase in sales, to $4.5 billion.
In North America, sales grew on the general economic upturn, Michelin said.
In passenger/light truck tires, the firm's Michelin and BFGoodrich-branded high performance segment performed “extremely well,” but shipments of private and associate brands slipped.
Truck tire sales were up on the strength of new national account business; sales of retread products posted double-digit growth.