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Continental releases 2002 results

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Continental AG's 2002 consolidated net sales totaled 11.4 billion euros, an increase of 175 million euros over previous year results.

Continental's Passenger Tire Division recorded sales of 3.7 billion euros for the year, a 6% drop from 2001's 4 billion euros.

The company's Commercial Vehicle Tire Division -- which is responsible for truck, light truck, industrial and farm tires -- achieved 2002 sales of 1.3 billion euros.

"In North America, volumes grew in the replacement business, while deliveries to the automotive manufacturers were down," say Continental officials.

Both replacement and OE sales were down in Europe, they add.

"Without foreign exchange rate effects, sales would have outperformed the previous year by 3.4%."

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