European, American Tyre Markets Softer in December – Michelin

Figures released by Michelin have confirmed what we already knew – these are not happy times for the tyre industry. Between January and December 2008 the passenger car tyre segment in Europe (including the CIS) shrank for both the OE and replacement markets. The OE market dropped 7.2 per cent during the year, while replacement market sales declined 4.0 per cent. During the month of December 2008, OE sales plummeted 39.1 per cent year-on-year, while aftermarket sales grew by 7.6 per cent.

The European OE truck tyre market declined by 0.9 per cent between January and December 2008, and the replacement tyre market by 9.7 per cent. During December 2008 OE sales dropped 40.7 per cent year-on-year, and replacement market sales 31.0 per cent.

In North America the OE passenger car tyre market shrank 16.5 per cent during the year and the aftermarket by 5.3 per cent. In December 2008 the OE market decreased by 29.7 per cent year-on-year, while the replacement tyre market decreased by 4.0 per cent. In terms of truck tyres, OE sales in North America declined 16.5 per cent in 2008, 8.2 per cent in the replacement market. In December 2008 OE truck tyre sales declined 19.8 per cent, replacement market 15.1 per cent.