Michelin’s Revenue Growth Slows

Revenue growth at tire maker Michelin slowed to 2.5% after the company had a 4.7% sales increase in the first half of the year, Bloomberg reported.

Michelin reported third-quarter sales of 4.18 billion euros, about $6 billion.

Truck-tire sales were €1.43 billion euros ($2 billion), a 3.2% gain, after rising 4.5% in the first half, Bloomberg said, citing Paris-based Michelin.

Michelin also cut its North American outlook, predicting a 4.4% contraction in replacement truck-tire sales this year, rather than the 2.3% decline it forecast in July, Bloomberg reported.