ETRMA reports double-digit declines in most tire markets

Brussels – The European replacement tire market has seen a “significant drop” in the first quarter, the European Tyre and Rubber Manufacturers’ Association (ETRMA) has reported.

All tire types witnessed a negative development in demand, with agricultural tires reporting the sharpest decline during the three months to end of March, ETRMA said.

The down-trend in the first quarter followed a negative second half in sales volumes of ETRMA members, noted the association's report issued 25 April.

At 54.6 million units, the overall replacement consumer tires segment saw a decline of 12% compared to the year before.

The figure reflected a 13% drop in summer tire and 26% decrease in winter tire demand, while all-season tires reported a marginal 1% increase.

Europe's truck & bus replacement market, meanwhile, recorded an 18% year-on-year decline to 3.6 million units over the first three months of 2023.

Demand for agricultural tires fell 39% year-on-year to 343,000 units, while two-wheeler tire market fell by 3% in the first quarter.

Compared to the first quarter of 2019, truck & bus tire sales remained at the same level, but the sales of consumer tires declined by 4.5%.

The latest decline "has to be seen in the context of the ongoing high inflation in all European markets,” explained Adam McCarthy, ETRMA secretary general.

A key factor here, he said, is "the continued negative impact of the war in Ukraine, particularly on energy prices."

ETRMA: Replacement tire sales in Q1 2023

Source: Europool ETRMA

*Consumer = Passenger car, SUVs and light commercial vehicles

n/s = not supplied