Michelin Chairman: The tire market is in good condition overall

Michel Rollier, chairman of Michelin tires in France, said in a recent interview that the global tire market is generally stable.

Michel said that the global tire market as a whole is in good condition, but the European heavy-duty truck tire market is an exception and the situation is not optimistic.

In the third quarter of this year, sales of Michelin increased by 10.6% year-on-year to 5.1 billion euros ($6.8 billion). Sales in the first three quarters rose by 17.3% year-on-year to 15.2 billion euros ($20.2 billion).

As early as the beginning of this month, Michelin tires had announced the sale of a 9.98% stake in its Hankook tires. The purpose was to simplify the product line and obtain liquidity. Michelin could raise funds by US$ 610 million by selling its shares in Hankook Tire. .