Pirelli cuts revenue guidance for second time this year

Italian tyremaker Pirellicut its revenue guidance for the second time this year, joining a string of suppliers hit by a broader auto industry downturn during the last quarter.Pirelli, which makes tyres for Formula One racing teams and premium automakers like BMWand Audi, on Thursday cited prolonged weakness in the new vehicle market and the tougher competitive environment.Last month German auto supplier Continentalcut its 2019 outlook, also citing expectations for a fall in global vehicle produc