Brussels - Following a strong start to the year, European tire sales lost momentum in the second quarter, the European Tire & Rubber Manufacturers' Association (ETRMA) has reported.
European tire markets lose momentum
Over the three months to 30 June, there was "less dynamic" growth particularly in the consumer and truck tire market segments, said a 14 July ETRMA release
Most concerning was a marked decline in the sale of consumer tires in June, which went down by 2 percent, according to the association's statement. Overall, demand for consumer and truck tire grew in the first six months of 2016, although by less than had been expected, the ETRMA added.
Meanwhile, sales in the agricultural tire segment remain "critically low" with what the statement described as "a staggering -7 percent for the second quarter and an even worse -7.8 percent when looking at the full first semester."
Looking ahead, ETRMA secretary general Fazilet Cinaralp said: "It will be interesting to see what the rest of the year will bring about." Of particular note, she said will be "the sale of winter tires, which last year performed quite poorly, before we can have a clear picture of the 2016 market."