Michelin : November market figures again unsurprisingly impacted by OE weakness; replacement still relatively solid
>November figures broadly in line with previous months - Overall, November data broadly in line with previous months trends, thus confirming volumes are still impacted on the OE side by the chips shortages, with the bulk of the impact on the Passenger side. As a reminder and for the FY, Michelin updated its targets at the Q3 stage and now expects passenger market growth of 6-8%, +6/+8% for Trucks (incl. +11/+13% ex China) and 9/+11% for Specialties. Our volume estimat...Compagnie Generale des Etablissements Michelin is active in the tire and mobility-related service markets. Co. manufactures, distributes and sells tires for all kinds of vehicles, publishes maps and guides and operates a number of services. Co.'s operates in three segments: Passenger car/Light truck tires and related distribution; Truck tires and related distribution and Specialty businesses segment including tires for specialty vehicles and maps and guides. Co. distributes its products through two tire distribution networks: Euromaster (Europe) and TCI (U.S.A.) and its brands include Michelin, BFGoodrich, Kleber, Uniroyal, Warrior, Kormoran, Riken, Taurus and Tigar.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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