I have lifted these bits fron a bloomberg article so you don't have to trawl through the financial bits:
Michelin & Cie. (ML),
Continental AG (CON) and other European tiremakers, already steering clear of the region’s debt crisis, got an early Christmas gift this week when Luxembourg made snow tires mandatory on the duchy’s roads.
More good news may be on the way with
Poland, Turkey and
Belgium also considering requirements that drivers buy tires for snowy roads and the European Union discussing standardized winter-tire rules. The moves would give the industry another hedge against the volatility plaguing carmakers.
With winter tires costing as much as 25 percent more than summer tires, Europe-wide regulations could net the industry 2 billion euros ($2.6 billion) in additional revenue, according to Lars Holmqvist, a consultant with Kreab Gavin Anderson and the former head of European auto supplier association Clepa.
The European Commission is considering a standard definition for winter tires throughout the region. The rules could be finalized next year, said Fazilet Cinaralp, secretary general of the European Tyre and Rubber Manufacturers’Association in Brussels.
“As soon as the definition has been clarified, we’d like to see a broader mandate on winter tires fairly quickly,”Cinaralp said. “Countries such as Belgium,
Denmark, France,
Netherlands, Poland and the U.K. should have mandatory winter tires.”