Michelin CEO Sees Mild Recession, Car Market Rebound by 2024
- Chip shortages affecting auto industry and equipment makers
- Tiremaker has raised prices to cover $2.4 billion cost surge
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Car sales crimped by semiconductor shortages may take until 2024 to recover, even assuming the global economy endures a mild recession rather than a deep slump, said the chief executive of French tiremaker Michelin.