For the major international tire manufacturers, the battle was lost. Michelin, the world leader, and its historical rivals - Japanese Bridgestone, German Continental and Italian Pirelli (sixth in the world but controlled by Chinese ChemChina) - have long ago lost ground on d entry level facing the offensive of Chinese manufacturers. The latter have seen their market share climb in fifteen years from 6% to 25% on less expensive and less sophisticated tires. At the same time, the industrial footprint of the former has melted in France. Michelin therefore closed its La Roche-sur-Yon site in 2020, which produced heavy-duty tires. For its part, Bridgestone closed its doors to its Béthune plant at the end of April.
Michelin wants to sharpen its margins by diversifying
Also, the future of Michelin and its historical competitors is written in other niches.
These manufacturers are now relying on larger models, suitable for SUVs or pickups.
As well as on the rise
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