PARIS, April 22 French tyremaker Michelin
said first-quarter sales fell 8.1 percent, weighed
down by a sluggish economy in its home region and
weaker-than-expected growth elsewhere.
Revenue fell to 4.88 billion euros ($6.36 billion) in
January-March from 5.3 billion a year earlier, the Clermont
Ferrand-based company said in a statement on Monday.
Declining sales volumes accounted for most of the slide,
with a 10 percent decline in European car tyre sales compounded
by a 12 percent drop in U.S. sales to truck makers. Falling
prices also weighed on revenue, the company said.
Michelin nonetheless reiterated its full-year goals
including "stable" operating profit, close to the 2.42 billion
euros recorded in 2012 before one-time gains and losses.
($1 = 0.7674 euros)
(Reporting by Laurence Frost; Editing by James Regan)