French tire giant Michelin is "extremely confident" about regaining pricing power in the market despite warning of stiffer headwinds on raw materials, the company's CEO told CNBC.
"We have increased our prices, notably in Europe recently, on all product lines: passenger cars, trucks, agriculture. And this has been followed in the market so it will increase naturally the performance of the price mix and raw material effect in the second half," Jean-Dominique Senard told CNBC.
"We are extremely confident for the whole year."
However, pricing and raw materials will have a "net negative effect on the business" over the full year, Michelin cautioned in its half-year postings.