PARIS (April 27)—Groupe Michelin reported slightly higher sales revenue for the first quarter despite lower European sales volume.
Michelin credited increased prices and improved product mix for the 1-percent increase in sales to $4.5 billion.
In North America, sales grew on the general economic upturn, Michelin said.
In passenger/light truck tires, the firm's Michelin and BFGoodrich-branded high-performance segment performed "extremely well," but shipments of private and associate brands slipped.
Truck tire sales were up on the strength of new national account business. Sales of retread products posted double-digit growth.