Michelin : May volumes still impacted by destocking but H1 still looking robust overall

>Destocking headwinds remain, we see vols at -2.3% in Q2, € 1.7bn EBIT in H1 - Michelin released tyre market data for May which confirms the weakness already seen in the early months of 2023, with sell-in below sell-out currently as part of destocking process at dealers in both passenger and trucks segments. As such, we think this data tends to confirm that overall market trends are set to remain soft near term in the current uncertain economic environment and given t...