FRENCH tyre maker Michelin says its net sales totaled EUR15,246 million in the first nine months of 2011, up 17.3% over the year-earlier period. The company also reported a 9.3% increase in sales volumes, reflecting the group’s good performance in still expanding tyre markets and a 10% gain from the price mix.
The price mix attests to the efficiency of the pricing policy, which is designed to offset all of the increases in raw materials costs. The mix effect was not material, as the sharper upturn in OE sales offset improvements in the segment, geographic and brand mixes. (PRA)
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