Michelin : May volumes show slight growth in replacement, lower sales in OE
>Michelin value over volumes focus likely suggests slightly negative volumes in May - Overall, May volumes were slightly up, driven by replacement tyres but mainly led by Asian imports growth in trucks in the US, and despite a weaker OE segment. This nonetheless further underscores the narrative of a (slow) gradual improvement throughout the year (volumes were down 4.1% in Q1). As a reminder, Michelin’s management based its FY financial outlook on a stable market scen...
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