Monday, April 22, 2013 12:41 pm
Michelin sales slump in 1st quarter
The Associated Press
Michelin says it made revenue of (EURO)4.88 billion ($3.36 billion) in the January-March period, down from (EURO)5.3 billion in the same period a year earlier.
In a statement Monday, the Clermont-Ferrand, France-based tire maker said the sales slump was in-line with its February forecast of achieving flat sales volume over the full year. Growth in emerging markets, like China and South America, will offset morose markets in North America and Europe, Michelin said.