US Replacement Tyre Market Slump Continuing

Preliminary data collated by Deutsche Bank indicates that in May shipments of replacement tyres in the US were down 9.2 per cent year on year (-5.0% adjusted for one less shipping day). This decline follows a 3.5 per cent fall in April and 5.0 per cent drop in March. Based on such information, the bank estimates that US industry replacement shipments are down 5.2 per cent year to date, with weakness particularly acute in the “broad-line” and private label end of the market.