Michelle Roilliers, CEO of the French tire manufacturer Michelin , said on September 14, 2011 that Michelin did not see signs of sluggish sales in its main business market. However, he said that if the economic environment deteriorates, Michelin is ready to reduce production to clear inventory.
Raullier made the above remarks during an interview with a journalist at the Frankfurt Motor Show. He said: “The market environment is still good and actually has improved compared to the same period of last year.†But he said that Michelin is closely monitoring sales levels and that Michelin will be able to outnumber the 2009 recession when necessary. Take action more quickly to avoid the accumulation of costly inventory. He said: "Unused product inventory costs up to $20 million per day."
Raurier reiterated Michelin’s full-year profit forecast set in July. The company expects tire sales in 2011 will be able to achieve 8% growth, and the revenue level is expected to be higher than the previous year. He also reiterated that since the entire fiscal year 2011, rising raw material prices will likely reduce earnings by about $1.8 billion, but most of this will be offset by price increases.
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