PARIS (March 5)—Michelin North America Inc. increased sales last year nearly 7 percent over 1999 to $5.5 billion, based heavily on the strength of its replacement market sales. On a unit basis, Michelin sold 11.6 percent more car and light truck tires and 6 percent more truck tires to replacement customers last year vs. 1999, according to fiscal 2000 financial data released by parent Groupe Michelin. However, Michelin´s sales of car and light truck tires to North American original equipment customers fell 9.4 percent last year, in part by plan as the company gave up some selected accounts. OE truck tire sales fell 15.8 percent, paralleling the slump in new truck manufacturing. In the company´s financial accounts, Michelin´s North American sales rose 22.5 percent in euro terms; but the averaged annual dollar/euro exchange rate fluctuated 14.6 percent from 1999 to 2000, leaving the adjusted increase at about 7 percent.
Michelin North America sales increase in 2000