Michelin: European Tyre Volumes Strong in July

Passenger tyre demand increased by 7 per cent in Europe and by 9 per cent in North America, mostly driven by OE demand of +11 per cent and +21 per cent respectively. According to a Deutsche Bank report, July truck tyre demand remained strong in Europe, growing 9 per cent (a positive trend confirmed by truck OEMs who are trying to secure tyre deliveries for 2008) and in Brazil, where volumes rocketed 23 per cent. However, truck tyre demand remains extremely weak in North America (down 13 per cent). According to the analysts this was driven by the very weak OE – down 36 per cent – manufacturers had expected. However, overall July was reportedly a strong month especially for European companies.