IT House July 11 news, according to Automotive News Europe, Florent Menegaux, CEO of French tire maker Michelin, said that if the global economy only experiences a mild recession rather than a deep recession, the auto market will be in 2024. year of recovery.
In an interview with Bloomberg TV last week, Meng Liguo said, “As we discussed last year, I don’t expect we will have a real market recovery until mid-2023. If there isn’t a severe recession, I think auto A market recovery is more likely in 2024.” At the same time, Meng Liguo added,What it currently foresees is a mild recession in global markets rather than a deep one.
Meng Liguo said that in 2024 the global auto market will rebound back to the level before the outbreak of the new crown epidemic. But the recovery of the European auto market will lag behind because of the strict environmental regulations in Europe, where consumers are hesitant to buy which type of car.
IT House learned that Meng Liguo said that due to semiconductor shortages, the Russian-Ukrainian war and soaring energy prices, the company’s costs are expected to increase by 2.4 billion euros (about 16.3 billion yuan) this year. Michelin has raised tire prices three times in the past six months to ensure that the group’s profit margins are not affected by higher costs. “Fortunately, customers are still willing to buy our tires,” Meng Liguo said.
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