The domestic branch of Michelin group, the world’s biggest tyre producer, estimates its turnover will amount to about 325 million euros this year, 25% higher than the 260 million euros turnover it made last year.
The regional retail market last year accounted for around one third of the company’s turnover, according to company data. “Our sales in the region (i.e. Romania and the Balkans) account for 30% of our turnover, with exports making up the remaining 70%,” stated Jean-Marc Gebhart, CEO of Michelin Romania.
In terms of market share, the Michelin group estimates it holds around 20% of the market of car, van and truck tyres in Romania and the Balkans.