Conti expects slight recovery for remainder of 2020

Continental A.G.’s tire group expects a slight recovery in the tire market for the remainder of 2020, despite suffering a 23 percent drop in first-half sales revenue,

Rubber & Plastic News reports that Conti attributes decline in sales volumes for passenger and light truck tires to the negative impact the COVID-19 pandemic.

The German group said it expects demand for replacement tires for cars and light commercial vehicles to “normalize” in the third quarter, although that means volumes in Europe will be 10 percent to 15 percent lower than a year ago and 5 percent to 10 percent lower in North America.