Weaker-than-expected North American and European commercial vehicle replacement tire sales in the second quarter of 2023 and through the remainder of the year forced Continental to cut revenue guidance for its tire unit and the company as a whole.
North American commercial vehicle replacement tire sales fell 15% year-over-year in the most recent three-month period, the company said Aug. 9, and full-year sales are expected to be between 8% and 10% lower, compared with previous expectations of a 2% to 5% decrease.
