Florent Menegaux, CEO of French tire maker MichelinDuring the interviewHe said he believes the vehicle sales market will not recover from the semiconductor shortage until at least 2024.
In recent years, due to the impact of the coronavirus pandemic, the disruption of raw material shipments caused by the Ukraine-Russia war this year, and the shortage of semiconductor components, coupled with the global economic recession and stricter global environmental regulations, consumers have also shown a longer hesitation period in purchasing vehicles, resulting in a significant decline in vehicle sales performance.
Florent Menegaux predicts that the vehicle sales market will not recover until at least 2024, assuming there is no significant global economic recession. Furthermore, he anticipates that stricter environmental regulations in the European market, coupled with a growing wait-and-see attitude towards the future development of electric vehicles, will lead to a decline in transaction volume in the current gasoline-powered vehicle market.
Affected by the rising costs of raw materials, Michelin has recently raised the prices of its tire products to avoid the costs affecting its own product sales profits.
