Michelin weathering the recessionary storm


 

It is now five years since the credit crunch plunged Europe into deep recession. MT editor Steve Hobson went to Michelin HQ in Clermont-Ferrand to find out how the super-premium tyre maker is weathering the storm. Recessions are tough on premium brands, as buyers go into survival mode and the long-term benefits of spending more upfront to reduce running costs become less important than seeking short-term cash savings. Without secondary brands to woo such operators, Michelin has had to persevere […]