Conti predicts small consumer tire rebound
Continental AG officials expect to see a slight recovery in the passenger and light truck tire markets this year, predicting 4% growth in North America and 2% growth in Europe.
"In 2010, we expect the global output of cars and light commercial vehicles to increase by around 7% as compared with 2009. It is still difficult to determine sales opportunities in the truck tire replacement market, but many indicators here also suggest a recovery, albeit at a very low level.
"According to the most recent forecasts, the world economy will grow by up to 4% in 2010, but growth in Europe is expected to be only 1%," they add.