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.
-
16:22
-
16:18
-
15:44
-
15:27
-
15:10
-
14:53
-
14:05
-
14:00
-
14:00
-
13:45
-
13:42
-
13:40
-
13:29
-
13:27
-
13:25
-
13:10
-
12:54
-
12:54
-
12:50
-
12:47
-
12:30
-
12:12
-
11:50
-
11:41
-
11:32
-
11:28
-
11:15
-
11:08
-
11:00
-
10:46
-
10:41
-
10:21
-
10:20
-
10:19
-
10:05
-
09:47
-
09:45
-
09:36
-
09:34
-
09:25
-
09:09
-
08:47
-
08:32
-
08:15
-
22:00
