By Denna Bowman
Continental have reported higher than anticipated sales for 2010 on the back of ‘better-than-expected’ demand for winter tyres in the last quarter of the year.
The latest annual results released by the German tyres and vehicle components manufacturer highlight signs of a much-needed rebound in the automotive industry following the the worldwide recession.
While final figures for the fourth quarter and the 2010 fiscal year will not be announced until Continental’s annual financial press conference on 3rd March, the global company revealed that its Continental’s Passenger and Light Truck Tyres division set a new record for winter tyre unit sales in 2010, with more than 20 million units sold.
The company achieved actual revenue exceeding 25.5 billion euros, surpassing the 25 billion euros it had earlier forecast in November.
Elmar Degenhart, Continental Executive Board chairman, revealed at the North American International Auto Show in Detroit: “On the wings of better-than-expected business in the last three months of the year, we realised sales of over 25.5 billion euros in 2010.”