Michelin has posted a sharp rise in tyre sales for the first seven months of the year following increased demand in all of its key markets.
The firm has revealed that car tyre sales in the US rose by 5.1 per cent during the seven-month period from a year earlier, with July sales up four per cent.
In Europe, car tyre sales grew 7.9 per cent in the first seven months of the year, while July revenue was up 4.5 per cent from the same month last year.
In Brazil, the only other region which Michelin released data on, sales of car tyres surged by 7.9 per cent in the year to date and this growth was further underlined by sales of 9.6 per cent in July.
Michelin also revealed that demand for truck tyres remained strong, with European sales up 56.5 per cent for the period and US sales surging by 60.1 per cent.
In Brazil, truck car sales rose by 21 per cent in the first seven months of the year.
Posted by Danielle Barge