MICHELIN - 2008 ANNUAL REPORT

500,000
customers in China for
the roadside assistance
service Michelin Sui Ni Xing.
Michelin at a Glance
Distinguished
Launched in 2006, the Michelin Sui Ni Xing assistance
service was awarded the China Best Customer Service
Award by Chinese trade associations.
Premiere!
MICHELIN tires will be fitted on the Corvette ZR1 2009,
one of the world’s most powerful sports cars ever. For the first
time Michelin equips the prestigious American car brand.
The Managing Partners’ Report
Asia: Healthy Momentum
Although a trend reversal was noted at
the end of the year (demand edged back 2%
in the fourth quarter, versus the year-earlier
period), Asian markets were up almost 3%
overall, supported by the momentum of
the Chinese and Indian markets up 18% and
8% respectively. The region’s other markets
were stable, but Japan was substantially
down (-4%).
South America:
Fine Performance
In South America, the strong market growth
recorded at the beginning of the year slowed
down in October against the background
of an economic downturn and tighter access
to credit.
Over the full year, demand remained
relatively supportive versus 2007.
For Michelin, replacement sales growth
was very satisfactory. The Group won market
share, particularly in Brazil and the Caribbean
countries.
Africa and the Middle East:
Growth and Mix Enrichment
In Africa and the Middle-East, markets
remained supportive until November 2008.
Group sales were up substantially in both
value and volume terms. The price increases
and enrichment of supply in the higher
value-added segments translated into unit
sales price increases.
Consolidated Financial Statements
Group replacement sales were up
significantly, with double-digit growth for the
MICHELIN brand throughout the region.
The Group is actively increasing its footprint
in China and opened new TyrePlus centers,
bringing the Chinese network to 605 outlets
by end 2008.
In India, the still modest sales volumes shot up.
The successful launch of the MICHELIN X
Ice 2 winter tire range enabled the Group
to gain market share in Japan.
Light Trucks don new tires
• MICHELIN Agilis delivers a full 3 meters shorter braking
distance on wet surfaces, 30% longer service life AND is more
fuel efficient*; and MICHELIN Agilis Camping is even more
robust.
• KLEBER Transpro and Transalp 2 guarantee safety, reliability
and assistance 365 days a year.
• BFGoodrich ® Activan and Activan Winter, the brand’s first tire
range for light trucks, deliver unparalleled endurance and grip
on dry and wet roads as well as on icy and snow-covered roads.
* Compared to the previous MICHELIN Agilis tire solution.
Additional Information
Other Information
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