ETRMA notes steep increases in low-cost tire imports into Europe

Brussels – European (EU27 + UK) imports* of “low-cost” passenger car and light truck (PCLT) tire imports from China have increased sharply, the European Tyre & Rubber Manufacturers’ Association (ETRMA) has reported.

Chinese PCLT tire volumes rose by more than 10 million units in both 2022 and 2023, and as of the end of last year were over 40 million units above levels seen in 2015, new ETRMA figures show.

Moreover, the share of Chinese imports have continued to gain a significant share within the European PCLT tire market: increasing from 59% of unit imports in 2019 to 71.2% in 2023.

In the first half of 2024, total PCLT imports to Europe increased by 10% over the same period in 2023, with South Korea 'contributing particularly' to the higher volumes.

Truck & bus tire imports into Europe, meanwhile, remained “significantly above average” in full-year 2023, albeit lower than the highs of 2022, continued the ETRMA report issued 26 Aug. 

Imports of truck & bus tires from outside Europe* jumped from 5.7 million units in 2021 to 7.0 million in 2022, before falling back somewhat to 6.6 million in full-year 2023.

While, it noted, the share of Chinese truck & bus tire imports reached over 70% in 2017, the imposition of tariffs in 2018 led to a 75% decline in import volumes by 2019.

However, noted ETRMA, the decline in truck & bus tire imports from China has been offset by “a sharp increase” in imports from other sources, particularly the ASEAN countries.

“Thailand and Vietnam alone supplied 3.5 million units in 2023, compared to just 0.2 million in 2017,” the association said.

In the first half of 2024 total imports of truck and bus tires declined by 10.7%, according to ETRMA.

However, it added, volumes from China, Vietnam and Egypt increased, largely offsetting declines from other sources including South Korea and Japan.

* Excludes tires from Serbia & Turkey