Global tyre recovery continues unabated

ERJ staff report (DS)

Paris - Michelin has updated its website with tyre market data for the month of May. Once again latest figures show a continued and healthy recovery in demand in all markets, matching data supplied by Pirelli in recent days.

In the OE truck tyre segment, every market in the world rose in the month of May and for the second consecutive month, every market rose in the year to date. The site gives only percentage changes, not absolute numbers.

The year so far saw 19.9 percent growth in European OE truck sales strengthening the reversal seen last month. May's sales actually grew by a remarkable 69 percent year on year. The steady improvement in North American truck OE sales continued, with sales in the first five months up by 20.1 percent, though the growth in May was much stronger, at 33.9 percent.

The Brazilian market's sharp recovery also continued in May. The year to date showed growth of 57.2 percent, with the May figures up by 63.1 percent. Japan's markets continue to show huge growth, with sales in the year to date running at over double (106.4 percent growth) the same period in 2009. Compared to last May, sales were up by a similar 106.3 percent. China saw stronger OE sales in May, continuing the steady recovery, with OE sales up by 15.2 percent in the year to date, following a 8.8 percent improvement in the month of May.

Truck replacement tyres in May showed universal growth, as volumes increased around the world. European truck tyre markets grew by 31.0 percent in the first five months, and by 17.2 percent in May. North America grew by 23.8 percent in the year to May, again helped by an increase of 24.4 percent in the year-on-year figure.

In Brazil, a year-on-year increase of 47.7 percent brought the five-month figure to a healthy 35.2 percent growth. The steady recovery in Japanese replacement truck tyre sales continued in May, up by 14.0 percent in the year to date and up by 12.0 percent in the month of May. China sales for the month grew by 5.3 percent in May, making sales in the first five months 11.5 percent higher than a year before.

The OE car business continues to grow from last year's poor figures. Michelin said the total European OE market for car tyres in the five months to May 2010 was up by 29.4 percent, while the year-on-year figure for May eased to a 14.9 percent in crease. The North American market also grew strongly over a depressed market a year ago, with the equivalent figures showing an increase of 68.6 percent for the five-month period and a very healthy year-on-year increase in May of 86.2 percent.

China's OE demand was up by a massive 58.4 percent in the year to date and up by an healthy 28.0 percent in May.

In the replacement business, the steady growth in Europe decelerated slightly. In May the five-month figures showed a growth of 9.8 percent while the one-month figure grew by 6.4 percent. In North America, the replacement market grew by 10.6 percent in the first five months, helped by an increase of 11.5 percent in the most recent month. Chinese replacement sales continued to grow, showing growth of 16.6 percent in the year to date helped by an increase of 22.1 percent in the most recent month.

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Press release from Michelin