Jonathan Khong, managing director for Michelin Philippines and Pacific Islands, speaks at the company’s “Expanding the Road Ahead” event on Monday afternoon in Fairmont Makati.
Photo by Toby Magsaysay
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French tire manufacturer Michelin remains bullish on the Philippines, noting that the country remains a key component of its broader Asia-Pacific operations.
At its “Expanding the Road Ahead” event on Monday afternoon, Jonathan Khong, managing director for Michelin Philippines and Pacific Islands, highlighted the country’s current and future importance to the company’s business.
“Since 2023, Michelin Philippines has grown its business by more than 60%. That growth gives us confidence that the opportunities ahead remain significant. When we look at the Philippines today, we see a country with significant potential,” he said.
Known historically as a tire manufacturer, as well as for its Michelin-star rating system, Khong said the company is now adapting its business model to cater to a variety of customer mobility needs beyond passenger cars.
“Customers are also assessing mobility differently than they did just a few years ago. Whether through traditional tyre retail, OEM dealerships, service networks, or digital MT retail platforms, consumers increasingly expect greater convenience, transparency, and expert advice throughout their ownership journey,” he said.
“The future of mobility includes logistics teams delivering goods across the country, construction equipment building roads, bridges, ports, and communities, agricultural machinery supporting food production, industrial equipment driving productivity, and mining operations supporting economic development.”
Michelin’s 2025 performance reflected a difficult year for the French tiremaker, as weaker demand, particularly in North America, weighed on results. Sales fell 4.4% to approximately P1.7 trillion, while segment operating income dropped more than 14% to about P190 billion. Tire volumes declined 4.7%, but strong cash generation and a resilient product mix helped cushion the downturn. Michelin maintained its P86 dividend and signaled expectations for a profit recovery in 2026.
Khong said the company, which has served the Philippine market since the 1990s, remains committed to expanding its customer base.
“Our ambition is to grow Michelin's contribution across the mobility ecosystem, safety, efficiency, and sustainability.”
“Michelin will continue to invest in people, capabilities, partnerships, and the future of mobility in the Philippines. We see significant opportunities ahead.”
