Crucial time for tire makers

摘要

UK: Tire makers are under pressure to grow sales and earnings in 2019, coming off a year of rising raw materials costs, slowing demand and currency issues in the main global markets. Among the more robust performers in 2018, Pirelli posted an 8% year-on-year rise in earnings on 3% lower sales (see table). The group linked the sales decline to a "severe market contraction" for standard tires in Latin America and the impact of negative currency movements. Michelin also reported increased profits last year as price- mix improvements helped to offset a €271-million negative currency effect and a €158-mil-lion rise in raw materials costs. While sales of passenger car tires and truck & bus tires fell in 2018, Michelin's speciality tires sales rose 19% - partly due to a "sustained rebound in demand for mining tires."