Michelin banks on mobility, life style solutions for sales boost

French tire manufacturer Michelin Group is banking on huge growth in China thanks to the growing demand for mobility and improved life style solutions, a top company official said.

Bruno de Feraudy, president of Michelin China, said the company is eyeing not just being a tire supplier but a mobility experience brand that plays an integral role in consumers' daily lives, ranging from car maintenance to fashion wear and from holiday trips to dining options.

Sales of passenger car tires, light truck tires and related distribution rose 4.1 percent year-on-year globally to 9.24 billion euros ($10.76 billion) in the first nine months of 2017, according to the company's latest quarterly report, and its specialty business, including earthmovers, agricultural implements, two-wheel and aircraft tires, Michelin Travel Partner and Michelin Lifestyles rose 18.4 percent year-on-year to 2.54 billion euros.