Michelin sales fell below forecast

Michelin has released its quarterly report, which states that the company's sales decreased by 6.6% in July-September 2025 due to a deterioration in the North American market. Revenue was €6.25 billion, below analysts' forecasts, which expected the figure to be €6.34 billion, according to Reuters.

According to Michelin's financial director, Yves Chapot, sales decreased solely due to a decline in demand in the North American market, while the company recorded an increase in turnover in all other regions. In North America, one of the key factors was a decrease in truck sales, related to the postponement of the introduction of new emissions standards in the US. Additionally, on July 1, Michelin terminated a contract with an unnamed major trading partner, and the company notes that it will take six months to recover sales, not three months as previously expected.

Last week, Michelin downgraded its forecast for 2025, and now the company has also announced that it will not be able to reach its target operating profit of more than €4.2 billion in 2026, but it is expected to grow compared to the current year.

In the third quarter of 2025, Michelin's results were also negatively affected by the weakening of the dollar, and new US import tariffs are expected to reduce the company's revenue by €500 million in 2025-2026.