亿博体育

Clermont-Ferrand, France – Michelin Group has reported a 1.9% year-on-year decline in first quarter sales to €6.5 billion, due mainly to lower OE volumes.

Overall volumes were down 7.3% compared to the first quarter of last year, on lower OE sales in all segments, Michelin said 24 April.

According to the French group, the market reversal was a ‘prolonged’ trend observed since the second half of 2024.

The decline was partly offset by a 2.5% positive OE/replacement price-mix effect, and a favourable currency impact linked to the US dollar.

By segment, Michelin’s passenger car and two-wheel tires unit (RS1) reported a 1.2% year-on-year increase in sales, lifted by a positive mix effect.

Michelin linked the revenue growth to replacement and Michelin-brand tires, which saw a 4% year-on-year increase in performance.

Segment volumes were down 3%, as a result of “continuing downtrend in the OE markets.”

In Europe, Michelin said RS1 volumes were down 13% compared to the same period last year, while North America reported an 8% decline year-on-year.

Revenue was further impacted by “the unfavourable mix of vehicle brands and models.”

More positively, the French group saw sales of 18-inch and larger tires grow in line with market trends to account for 67% of Michelin-brand sales.

The two-wheel tire business continued to grow, led by the ‘leisure motorcycle and premium scooter’ segments in Europe and Asia.

The truck & bus segment (RS2) also saw volumes adversely affected by lower OE demand, partly offset by replacement and fleet services sales.

Here, Michelin said OE volumes were hit by “sharply declining markets” in Europe and North America, which were down 12% and 14% respectively.

Furthermore, the volumes declined due to the price increases negotiated with OEMs.

In the replacement market, new tire volumes increased and the group recorded market-share gains in targeted segments.

Revenue from ‘tire-as-a-service’ and ‘connected solutions’ fleet services also grew as they strengthened market position in Europe and South America.

Speciality tires and polymer composite solutions (RS3) saw a mixed picture with off-road tires seeing a contraction while mining and aircraft segments were “supportive.”

Here, Michelin said OE markets were “still at the bottom of the cycle as expected,” leading to a steep decline in off-road demand, particularly in the agriculture and construction industries.

Mining tire sales, meanwhile, recovered to the high levels of the first quarter of 2024, Michelin's report continued.

Aircraft tire sales also grew over the first quarter, helped by buoyant markets.

At the group's non-tire polymer composite solutions business, sales were down slightly, due to “an uncertain economic environment.”

The business, however, reported a positive trend in belts and high-tech seals for critical industrial applications.

Summarising the first quarter performance, Michelin said it had adapted its business model to “overcome the turbulence of 2025.”

The group stressed that recent financial ratings by three major agencies had ‘recognised’ its financial strength with ratings of A/A/A2.