Tyre markets stabilising as recovery slows

ERJ staff report (DS)

Paris - Michelin has updated its website with tyre market data for the month of October. The data shows markets are returning to a more stable situation as the recovery slows sharply. The site gives only percentage changes, not absolute numbers.

The year so far saw a healthy 48.1 percent growth in European OE truck tyre sales strengthening the growth seen last month. October's sales actually grew by a remarkable 81.2 percent year on year. The steady improvement in North American truck OE sales continued, with sales in the first ten months up by 24.6 percent, though the growth in October was weaker, at 14.9 percent.

The Brazilian market's sharp recovery also continued in October. The year to date showed growth of 57.8 percent, with the October figures up by 35.8 percent. Japan's market growth eased sharply, with sales in the year to date running at 59.7 percent growth, but compared to last October, sales were down by 5.3 percent. China also saw much weaker OE sales in October, slowing the impetus in the steady recovery so far this year, with OE sales up by 27.8 percent in the year to date, following a 25.3 percent decline in the month of October.

Truck replacement tyres in October showed near-universal growth. European truck tyre markets grew by 20.3 percent in the first ten months, despite a fall of 1.5 percent in October. North America grew by 18.8 percent in the year to October, with an increase of 13.4 percent in the year-on-year figure.

In Brazil, a year-on-year increase of 31.3 percent brought the ten-month figure to 37.2 percent growth. The steady recovery in Japanese replacement truck tyre sales continued in October, up by 10.6 percent in the year to date and up by 8.3 percent in the month of October. China sales for the month grew by 4.5 percent in October, making sales in the first ten months 9.3 percent higher than a year before.

The OE car business has stabilised after the first half boom recovered much of the ground from last year's poor figures. Michelin said the total European OE market for car tyres in the ten months to October 2010 was up by 13.9 percent, while the year-on-year figure for October eased once more, showing a 4.5 percent decrease. The North American market also grew strongly over a depressed market a year ago, with the equivalent figures showing an increase of 46.6 percent for the ten-month period and a year-on-year increase in October of 7.4 percent.

China's OE demand was up by a massive 36.3 percent in the year to date and the increase in October was 25.4 percent.

In the replacement car tyre business, the steady growth in Europe eased. In October the ten-month figures showed a growth of 7.0 percent with the one-month figure showing 2.0 percent fall. In North America, the replacement market grew by 4.2 percent in the first ten months, but an decrease of 5.8 percent in the most recent month indicates a continued slow-down. Chinese replacement sales continued to grow, showing growth of 20.2 percent in the year to date helped by an increase of 25.1 percent in the most recent month.

This is an external link and should open in a new window. If the window does not appear, please check your pop-up blocking software. ERJ is not responsible for the content of external sites.

Press release from Michelin