Hanover, Germany – Continental expects growth of around 2-3% in European tire markets for 2018 as a whole, the group said in its half-year results statement issued 2 Aug.
In the first-half, it said, the replacement tire market for cars and light commercial vehicles (CVs), volumes rose 3% year-on-year. This was driven mainly by strong growth in Russia, France and Turkey.
For the full-year, Continental said it expects a 2% increase in sales volumes in the region.
In terms of its European OE tire business, Continental noted preliminary data showing 1% growth in the production of new cars and light CVs. The group anticipates 2% growth in the region for full-year 2018.
European demand for replacement tires for medium and heavy CVs increased by 2% in the first half, with Continental forecasts similar growth for the year as a whole.
The OE tire business is expected to benefit from 2% increase in production of these CVs, helped by 4% growth in the first half.