Michelin, the French tire manufacturer, said that the growth rate of all tires in the first nine months of 2010 exceeded expectations at the beginning of the year.
Sales of all tires in the third quarter of Michelin rose 23.8% to 4.65 billion euros. Sales in the first nine months rose 19.4% to 13 billion euros. The sales of Michelin's entire business rose 13.8% in the first nine months of 2010, which is basically in line with the 12% growth rate of the target for the whole year.
In the third quarter, sales of passenger car and light truck tires rose by 20.2% to 2.515 billion euros, while truck tire sales rose 26.9% to 1.53 billion euros.
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