By Anthony Shevlin

French tire maker Compagnie Generale des Etablissements Michelin (ML.FR) said Monday that sales in the first quarter fell due to a slight decline in the market of tires for passenger cars, light trucks and trucks.

Michelin said sales for the three months ending March 31 were 5.22 billion euros ($6.41 billion), compared with EUR5.57 billion the previous year.

Michelin confirmed its outlook for 2018 and said it now expects currency effects to hit recurring-operating income by EUR350 million.

Write to Anthony Shevlin at anthony.shevlin@dowjones.com

(END) Dow Jones Newswires

April 23, 2018 12:19 ET (16:19 GMT)

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