Michelin News Updates

Michelin plans to buy back as much as $2.4 billion worth of shares, as the French company seeks to keep investors on side with its tire business under pressure.

Sales in North America slumped close to 10% during the third quarter, dragged down by slower demand for trucks and heavy-duty vehicles used in agriculture, Michelin said.

Stellantis will withdraw its support for the Symbio joint hydrogen-vehicle venture with Michelin and Forvia, putting the project’s future at risk.

As one of the top expenses for trucking companies of all types and sizes, tires go a long way toward determining a motor carrier’s profitability and success.

Significant technological advances in recent years have helped to increase demand for LRR tires. “They’re just making the tires better and better all around,” one trucking executive said.

PrePass Safety Alliance named Erik Dietz executive vice president Jan. 2, tasking the transportation industry veteran with advancing safety and efficiency in commercial vehicle operations.

Michelin said Europe’s “difficult economic situation” is causing a drop in tire demand across different sectors that is leading to overcapacity in the region.

Michelin posted a 4.1% year-over-year decrease in tire sales in the first quarter of 2024, citing softer overall demand in the truck and specialty tire segments.

ORLANDO, Fla. — Michelin launched a fleet management brand focused on improving sustainability in commercial trucking, the company announced Feb. 26. The Michelin Connected Fleet brand brings a portfolio of data-driven solutions to the industry.

Michelin is intensifying efforts to make fuel cells as the French company bets that growing demand for hydrogen vehicles will help reduce its dependence on tires.