By Oliver Hall
Nokian tyres have announced an jump in net sales for the first quarter of the year.
The Finland-based tyres manufacturer posted sales of 183.8 million euros for the first three months of 2010 – an increase of 18.1 per cent over the same period for 2009.
Nokian officials believe the figures indicate they are on course to improve their overall net sales for the full year.
Kim Gran, CEO and President of Nokian, said: “Demand in Nokian Tyres’ core markets has started to recover as expected, and our sales and results improved as planned.
“The majority of our growth (in the first quarter) came from a prolonged winter season and a recovery of preseason sales in Russia, where the business environment is improving.”
In North America, Nokian’s sales grew by 1% in 1Q 2010, accounting for slightly more than 10% of the company’s overall sales.
Other tyre manufacturers have also posted increased sales for the first quarter of 2010 as a recovery in the global economy sees the auto market showing signs of growth.