French tyre manufacturer Michelin has reaffirmed its full-year sales forecast after seeing no slowdown in the global car market.
Speaking to journalists at the Frankfurt Auto Show, Michelin's chief executive Michel Rollier revealed that the demand for cars is higher than last year.
He said: "Our sales are in line with our forecasts, including those to car manufacturers and orders for winter tyres."
Mr Rollier once again revealed that the company is expecting full-year sales volume to increase by around eight per cent, with operating income forecast to surpass that achieved in 2010.
Michelin is currently in the middle of a $2.56 billion (£1.62 billion) strategic expansion plan, with the firm set to open facilities in China and India next year, as well as Brazil in 2013.
Earlier this month, Michelin announced a joint venture with Chinese firms Double Coin and Shanghai Huayi to manufacture Warrior-brand passenger and light-truck tyres in the country.
Posted by Danielle Barge