We are expecting PSA to beat their forecasts and to reaffirm fairly upbeat guidance for 2003. Their key markets of Britain and France are holding up well and their market share is reasonably healthy.
The market is likely to be reassured that management is now putting firmer parameters around 2006 performance.
While tire pricing remains strong, high raw material prices and potentially weak high-margin markets (North American and European replacement truck tire markets) could provide offsets.