Michelin said recently that the replacement tyre market in Europe slowed down last month as a result of high stocks of winter tyres while the weather had remained mild.
The French tyre maker added that the European light vehicle tyre market, excluding replacements, rose 7 percent in December for a full-year increase of %.
Michelin is not the only one to be impacted by the sluggish market. It also reported that Nexen Tire’s revenue growth was limited by it too.