Continental Tire Group's sales in 2023 will drop slightly, but profit margin will increase

Despite the weak tire replacement market in Europe and North America in 2023, Continental's Tire Group still achieved sales of 14 billion euros, a year-on-year decrease of 0.3%. The adjusted EBIT margin reached 13.5%, higher than last year. The improvement in profit margin is mainly due to the large share of the high-end tire market and the year-end growth of European business.