US Tyre Shipments Increase by 2.5 per cent

US tyre shipments increased by 2.5 per cent in 2004, compared with 2004, according to preliminary estimates released by the RMA. The group cited strong increases in the nation’s GDP and Industrial Product Index (IPI) as being behind this growth. The positive general figure contrasts with a 2.8 per cent decline in passenger car OE sales, which fell to 53 million units. Light truck OE also decreased by 600,000 units, or 7.5 per cent, to approximately 7.4 million units in 2004.

Replacement markets, on the other hand, appear to have supported the general growth figure. The passenger replacement market increased by 3 per cent in 2004 to approximately 199.4 million units, up 5.8 million units over 2003’s level. The light truck tyre segment increased by 1.9 million units, or 5.6 per cent, to 36.4 million units in 2004. The truck tyre replacement market grew approximately 600,000 units or 4.1 per cent in 2004 mainly as a result of the strong rebound in industrial production.

Overall, the combined original equipment (OE) and replacement tyre shipments for 2004 light vehicle and commercial truck categories are anticipated to increase by 7.7 million units to approximately 318 million units compared to 2003’s 310.3 million total shipments.