European tire market grows 4% in July, Michelin says
ERJ staff report (LMH)
Paris – The European original equipment tire market grew by 4% in July, while emerging markets are still growing fast, according to data released by Michelin.
Positive European and North American passenger car and light truck tyre markets were in line with second-quarter trends, Michelin said, with the North American OE market showing 1% growth in July. In China, OE figures were up 10%, while the replacement market was up 11%. In Brazil, the greatest increase was seen in the replacement market, a 16% rise, while the OE market grew by 3%.
For the year-to-date, Europe is still in the negative for both original equipment (-2%) and replacement tires (-1%). North America showed some growth for the first seven months of the year in both OE (+4%) and replacement (+1%). Both China and Brazil saw the original equipment markets grow by 12% in the year-to-date, while the replacement market is growing by 9% and 13% respectively.
Michelin does not provide further analysis of the results.
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News release from Michelin