Do More With Reuters
Partner Services

Continental sees 2010 car tyre demand up -paper

Thu Jun 18, 2009 10:15pm IST
 
Email | Print | | Single Page
[-] Text [+]

FRANKFURT, June 18 (Reuters) - German automotive supplier Continental (CONG.DE: Quote, Profile, Research) expects worldwide demand for passenger car tyres to grow to nearly 1.25 billion units next year from the 1.2 billion units it expects this year, its Passenger Tyre division head told a German magazine.

For 2011, the company is forecasting demand at more than 1.3 billion units, Nikolai Setzer told Auto Motor und Sport on Thursday.

Guglielmo Fiocchi, head of German operations of rival Pirelli (PECI.MI: Quote, Profile, Research), meanwhile, told the magazine he forecast a 7 to 10 percent decline in demand around the globe this year.

"For 2010, the bottom would be reached, after which growth would then return," he said, adding the company forecast subsequent growth of up to 6 percent annually.

In Germany, Fiocchni expects the entires sector to see a decline of 7-8 percent in summer business this year, with a "better development" expected for the coming winter tyre business. (Reporting by Marilyn Gerlach; Editing by Hans Peters)

India Investment Summit 2009
India Investment Summit 2009

Top executives and bankers discuss their own plans and the broader opportunities and challenges for India.  Full Coverage 

A customer exchanges money at a currency exchange center in Dubai, in this May 2009 file photo. REUTERS/Ahmed Jadallah
Dubai Debt Fears

Dubai says it will ask creditors at flagship firms Dubai World and property developer Nakheel to delay repayment on billions of dollars of debt, sending ripples through world stock markets.  Full Article 

People stroll outside the Taj Mahal hotel ahead of the first anniversary of the militant attacks in Mumbai, November 24, 2009.  REUTERS/Punit Paranjpe
Investors worry about another attack

The risk of militants striking again worries investors who fear that a second attack similar to last year's Mumbai raids could shake the economy.  Full Article | Full Coverage 

Market Update

  • IndiaIndia
  • USUS
  • UKUK
  • Asia
  • Most Actives

road to Copenhagen

BLOGS

Photo
Calculated Move

Reliance aims big with $12 bln bid for LyondellBasell.  Blog 

showcase

U.S. Recession
U.S. Recession

A trip through the epicenters of the American recession.  Full Coverage 

 
Central Banks Cautious
Central Banks Cautious

Reuters tracks the policies of the world's top central banks as the debate over global economic recovery rages on.   Full Coverage 

 
T P Raman
Column - RBI leads the world

Reserve Bank of India's approach ring-fenced the banking system.   Full Article 

 
Funding Blues
Funding Blues

A popular tactic used by Indian brokerages to raise money for rich clients is likely to be banned.  Full Article 

 
Not Enough Jobs
Not Enough Jobs

Venture capital creates jobs, but not enough.  Full Article 

 
Column - A Sweet Dream
Column - A Sweet Dream

There are good reasons for Ferrero to consider a combination with Cadbury.  Full Article