Reply to "Tires this cheap??"

plt-1Member

quote:
It has nothing to do with any petroleum price

Perhaps those specific 2012 tires are not directly effected.

Bloomberg.com financial trade paper....

Few industrial companies will celebrate the collapse in oil prices to below $50 a barrel more than the world’s largest tire manufacturers.

For firms including Bridgestone Corp., Michelin & Cie., Goodyear Tire & Rubber Co., Continental AG and Pirelli & C. SpA, lower energy prices not only mean cheaper synthetic rubber, but also higher demand as motorists drive more.

“We are at a type of sweet spot at the moment,” Continental Chief Financial Officer Wolfgang Schaefer told investors Aug.4 after announcing that second-quarter profit jumped 25 percent from a year ago.

9/10/1611:09 AM

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