Recently, Michelin released its first three quarters of 2011 financial report, showing that in the first nine months of 2011, Michelin's net sales increased by 17.3% to 15.246 billion euros. Despite the slowing growth in the third quarter, the market is still expanding and the Michelin brand has performed well. The pricing policy contributed 10.0% sales growth for the first nine months. As previously announced, it will offset some of the impact of rising raw material costs throughout the year. Outlook for the whole year of 2011 Consistent with the overall economic development trend, the tire market, especially the card and passenger car tire market, turned into a downtrend in the summer of 2011, which is in line with Michelin's cautious optimism at the end of July. In the fourth quarter, the growth in the replacement of tires for passenger cars and light trucks in Europe will depend on the sale of winter tires to end customers. The market for truck and passenger car tires is uncertain, especially in the European market, and the special tire market will maintain high growth. In this case, the Group reiterated that its annual sales growth will be close to 8%. Michelin will continue to manage its business effectively. As the increase in raw material costs led to an increase in demand for working capital, the Group stated that free cash flow in 2011 will be temporarily negative, and it is expected that the year-end operating income will be significantly higher than the 2010 level. In the first nine months of 2011, net sales totaled 15.246 billion euros, a year-on-year increase of 17.3%. There are mainly the following factors: The 9.3% increase in sales reflects the Group's continued success in the growing tire market. The 10.0% price combination returns proves that the pricing policy is very effective. The pricing policy aims to undermine the impact of raw material cost growth. However, the price mix did not have a substantial impact. This was due to the greater growth of the original-matched tire business, which offsets its gains in various market segments, regional markets and brand portfolios. The negative impact of the 2.4% exchange rate factor mainly stems from the depreciation of the US dollar against the euro. Net sales by market segment In the first 9 months of 2011, net sales of passenger cars and light truck tires and related distribution businesses increased by 10.9% to 7.91 billion euros. Due to more market share in the winter tyre change business, the successful launch of the Michelin high-performance sports car tire (Pilot Super Sport) and the good performance of the Michelin Primacy HP series, the sales volume increased by 5.6%, which also means that the group factory was under full load during this period. Operation. Net sales have also been driven by the Group's flexible pricing policy. Some improvements in the price mix reflect the impact of the relative increase in sales of original and replacement tires and the effect of continuous optimization of market segments/rate combinations. Car and passenger car tires and related distribution business The total net sales for the first 9 months totaled 4.995 billion euros, a year-on-year increase of 22.0%. Sales (tons) rose by 10.5%, in line with market demand. However, in a more turbulent environment, especially in the European market, the group is adjusting factory production plans to respond to changes in demand at the end of the year. The Group still implements price increase policies in various markets. At the same time, the rebound in sales of original tyres was faster than that of replacement tyres, which had a negative impact on the price mix. Lead Plate,Lead Sheet For X Ray Room,Acid Battery Lead Sheet,Lead Plate For Lithium Battery Shandong Great Steel Co.,Ltd , https://www.great-steel.com