Michelin
ML
position
long
Rupal Bhansali
Thesis
Michelin has strong pricing power in the tire market, particularly for high-end vehicles. Despite concerns about the cyclical nature of the auto industry, tires are a consumable product that need to be replaced regardless of new car sales, positioning Michelin well for continued demand.
Did it work?
inconclusive
confidence: low
Without specific price performance data or a defined time horizon for the thesis, it's difficult to assess whether the thesis has played out. While the argument for Michelin's strong pricing power and consistent demand for tires remains valid, we cannot determine the effectiveness of the pitch without further information.
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