EU replacement tire sales subdued despite consumer segment recovery

Brussels - The EU replacement tire market remained subdued during the first quarter of 2024, according to the European Tyre and Rubber Manufacturers’ Association.

The lacklustre performance over the first three months was despite a marked recovery in the consumer tire segment, latest data from the association shows

“The general inflationary context continues to affect the demand in all tire product lines,” ETRMA secretary general Adam McCarthy commented in a 25 April announcement.

For the consumer segment, said McCarthy, “we continue to witness the recovery that started in the last quarter of 2023, primarily driven by winter tire sales.”

However, the ETRMA leader said demand across the “whole segment” is 2% below the pre-Covid-crisis level recorded in the first quarter of 2019.

Replacement demand in the truck & bus market declined 8% year-on-year during the first quarter, while the two-wheeler demand fell 6% compared to the same period last year.