Michelin shares plunge 10% after cutting 2025 targets
Paris — Michelin shares dropped nearly 10% on the Paris Stock Exchange this morning after the tire manufacturer revised its 2025 targets downward, citing a worsening economic environment.
In a statement released Monday, the group explained that its third-quarter financial results reflect a “further deterioration in economic conditions,” prompting the company to lower its outlook.
Around 9:20 a.m. (Paris time), Michelin’s stock was down 9.49% to €25.95, after briefly losing more than 10%, while the overall market declined by 0.81%.
The group attributed the revision to sluggish demand, rising production costs, and macroeconomic uncertaintiesaffecting the global automotive sector.
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