Demand for car and light vehicle tyres in Europe and the United States is improving thanks to restocking, but there are no signs of an upturn yet in trucks, said a senior executive at tyre maker Michelin.
"Today we're seeing a clear upturn in demand for replacement light vehicle tyres," Claire Dorland-Clauzel, head of communications and brands and a member of the group's management board, said on Friday.
Michelin had started to see this upturn in demand just before the summer, she said, adding that after a phase of drastic inventory cuts, distributors were starting to restock.
But there were no signs yet of a recovery in the truck market, Dorland-Clauzel said, adding: "We're remaining cautious".
Dorland-Clauzel was speaking at the launch of Michelin's first worldwide Internet, TV and print advertising campaign, focusing on the safety, durability and economic benefits of Michelin tyres.
The campaign kicks off with an animated TV advert showing the Michelin man, known as "Bibendum", defeating a gas-guzzling petrol pump.
Dorland-Clauzel declined to detail Michelin's budget for the campaign, which she said would run in nearly all the countries in which Michelin is present, but said Michelin had set aside $20 million in the coming quarter and $40 million in 2010 for the U.S. leg of the campaign.
