Michelin said that its third-quarter sales totaled 6 billion euros, higher than 5.78 billion euros in the same period last year, and also exceeded analysts' previous expectations of 5.8 billion euros.

Gasgoo.com According to foreign media reports, Michelin released sales data for the third quarter and the first nine months of this year on October 25. The company's performance last quarter exceeded expectations, partly due to the emergence of market demand for agricultural machinery tires. Strong rebound.

Michelin produces tires for cars, airplanes, bicycles, and industrial equipment. The company said that its third-quarter sales totaled 6 billion euros (about 6.98 billion US dollars), higher than 5.78 billion euros in the same period last year, and more than analysts. The previously expected 5.8 billion euros. In the first nine months of this year, the company's cumulative sales were 17.204 billion euros, an increase of 15.6% year-on-year.


Despite the shortage of global semiconductor chip supply, Michelin's sales are still increasing. At present, automakers are competing with the consumer electronics industry for chip supply, and the shortage of chips forces automakers to cut production.


Compared with the third quarter of 2019 before the pandemic, Michelin's sales in the third quarter of this year still fell. In the same period of 2019, the company's sales were 6.12 billion euros. The group also maintained its financial forecast for the full year 2021. Michelin chief executive Florent Menegaux said: "Despite the severe disruption in our supply chain and the sharp rise in energy and other costs, the group still released very solid results."


Michelin mentioned rising raw material costs and labor shortages in North America. In addition, the company said that labor shortages have also appeared in some European regions. However, rising crop and metal prices have helped Michelin sell more tires for mining machinery and agricultural machinery.


Michelin said that although the demand for truck tires in most parts of the world has increased in the last quarter, the demand in China has dropped significantly. In 2020, the Chinese fleet completed the upgrade before the new emission regulations came into effect, and then the demand in this market fell sharply.