Comprehensive foreign reports, due to the European tire market continues to slump due to the European crisis, Michelin tires plan to take measures to reduce its tire production and inventory levels in Europe.
According to a French media report, Michelin's passenger car tire factory in Europe is operating at 75% capacity, while the factory producing truck tires is operating at 60% capacity.
The media said that Michelin has recently reached an agreement with the union to allow it to adjust the factory's work schedule more flexibly. Other media reports said the company will also adopt a large-scale production cut-off measure against the Spanish factory.
Florent Menegaux, Michelin's director of passenger car and light truck tire business, said: "We will not rule out any measures. We must consider the development of the market and assess whether the current situation will continue."
In the past three years, European vehicle production has continued to decline, and the tire market has also experienced long-term sluggish growth. In February, the sales of passenger car and light truck tires in Europe fell by 13% compared with the same period last year.
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