Both net sales and tire volume were up for the first half of Groupe Michelin's 2017 fiscal year ended June 30. However, consumer and truck tire margins were down.
Michelin Groupe CEO Jean-Dominique Senard is among the 50 global leaders participating in Movin'On, an international forum presented by Michelin and focused on urban mobility and sustainable transportation.
Margins on consumer tires helped boost Groupe Michelin’s net income 43% in 2016. Michelin posted net income of 1.7 billion euros on net sales of 20.9 billion euros for its fiscal year ended Dec. 31, 2016. That compares to income of 1.2 billion euros on sales of nearly 21.2 billion euros for fiscal 2015.
Jean Dominique-Senard, global CEO for Groupe Michelin, will discuss the company’s latest ultra-high performance tire at the North American International Auto Show (NAIAS) on Tuesday, Jan. 10, at 9 a.m.
Michelin Group began construction of its 69th global plant in León, Guanajuato, in central Mexico, this week.
Despite a drop in net sales of about 2%, Groupe Michelin says its tire volumes in the first half of 2016 beat the market in every segment. Passenger and light truck tires were the leaders, with a 4% increase over the same period a year ago.
The Mexican automotive market -- especially the original equipment market -- is expanding out of necessity. And Michelin North America Inc. is right there with it.
Groupe Michelin’s sales of passenger and light truck tires “clearly outpaced the market” during the first half of 2015, the company said, with net sales of consumer tires rising 13.4% compared to the same period a year ago.
Group Michelin has acquired Blackcircles.com, an Internet tire sales company in the United Kingdom, for 50 million pounds.
François Michelin, who led Group Michelin for 47 years, has died. He was 88.
Groupe Michelin has acquired a 40% stake in Allopneus SAS, a French internet tire retailer, for 60 million Euros.
The 12th annual Michelin Challenge Bibendum is being held this week in Chengdu, China. The event brings together members of both the private and public sectors to examine sustainable mobility, with this year’s conference focusing on innovation in mobility at the heart of growth and urban well-being.
Groupe Michelin posted net income of 624 million euros on net sales of more than 9.6 billion euros for the first half ending June 30, 2014. That compares to income of 507 million euros on sales of more than 10.1 billion euros for the first half of 2013.