MGDDY - Compagnie Générale des Établissements Michelin Société en commandite par actions (MGDDF) Q1 2024 Earnings Call Transcript
2024-04-24 19:00:10 ET
Compagnie Générale des Établissements Michelin Société en commandite par actions (MGDDF)
Q1 2024 Earnings Conference Call
April 24, 2024 12:30 PM ET
Company Participants
Yves Chapot - GM and CFO
Conference Call Participants
Michael Jacks - Bank of America
Martino De Ambroggi - Equita
Jose Asumendi - JPMorgan
Christoph Laskawi - Deutsche Bank
Ross MacDonald - Morgan Stanley
Sanjay Bhagwani - Citibank
Michael Aspinall - Jefferies
Presentation
Yves Chapot
Thank you. Good evening, ladies and gentlemen. Good afternoon for those who are listening us from North America. So, I'm very pleased to have the privilege to present you our sales performance for the First Quarter of 2024.
And I will jump directly on the market evolutions. As the selling market developed slightly, driven by replacement demand with -- and you will see that in detail, the truck tire market restarted by Asian imports into North America ahead of expected tariff hikes.
Passenger car market, so I'm just on the Slide 3, grew by 2%. They were basically flat at original equipment, with a contrasted situation between the China market grew by 4%. North America by 6%, with the replenishment of vehicles that inventory -- dealer inventory during the quarter, and with basically a flat European market and dropping market in Asia out of China, particularly Japan and Korea....
Compagnie Générale des Établissements Michelin Société en commandite par actions (MGDDF) Q1 2024 Earnings Call Transcript