Michelin Records Phenomenal Profit despite Sliding Automobile Sales

It is almost said that, many are eroded in the sliding sales of European automobile industry.

but Michelin tends to stand tough amongst all odds, as recorded an increase in profit by 7.5%. Being said in its statement, the organization claimed emerging markets and the highly margined specialty tires as its main support underneath.

As per the reports, sales are upped by 5.8% on comparison with calendar of 2011 but a bit lower than its forecast. Framing into numbers, enhanced bottomline of 2012 emerged at 1.57 billion Euros, from 1.46 billion Euros of last year.

Michelin Set New Records

“To hold volumes steady in 2013, in a market environment that is uncertain in mature markets but still expanding in the new ones,” is expected by the house of famous tire maker.

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