Europe tire share prices tell tough story

London – With solid long-term fundamentals for market growth, European tire makers have been able to make a strong case for investment over recent years – only to be knocked back sharply by events outside of their control.

On 31 Dec 2021, Michelin share prices were valued at €36.04, having reached lows of around €18.80 in March 2020 as the impact of the pandemic hit home. This accelerated a steady decline since late-2017 when shares were trading around the €30.00 mark.

Then, with the onset of the crisis in Ukraine, Michelin share prices started on a bumpy downward slide to levels approaching €24.00 in August.

Likewise, Pirelli shares were trading at around €6.70 in late 2017, steadily declining to a pandemic-related low of around €3.50 in March 2021.

Values then recovered to finish the year at €6.11 before a sharp slide in mid-January 2022 started a slide that left shares trading at level as of around €3.80 in August.

Hardest-hit by recent external events has been Nokian, which had seen shares trading at around €40 in 2017, before weakening steadily in the years to 2020 – then dipping further to about €17 with impact of the pandemic. 

Nokian shares recovered steadily to reach levels nearing €29.00 by 30 Dec 2021, before slumping by almost two thirds to around €10.00 in the wake of Russia’s invasion of Ukraine.

Share price development of main European tire companies

*All values approximate