Michelin first-quarter sales down nearly 2%

French tyre maker Michelin on Thursday reported first-quarter sales of €6.5 billion ($7.4 billion), down 1.9% from €6.6 billion last year.

Automotive and two-wheel sales gained 1.2% to €3.5 billion, while road transportation and related distribution dropped 3.5% to €1.5 billion.

Specialty business and related distribution decreased 7.3% to €1.4 billion.

“Volumes were down 7.3% due to lower OE sales in all segments, prolonging the trend observed in the second half 2024,” the company said.