OE Truck Tyres Sole European Market Highlight in October

First the good news: Sales of truck tyres to European OEM customers during October 2010 were significantly above those of a year earlier. According to market data made public by Pirelli and Michelin, OE truck tyre sales rose by at least 75 per cent year-on-year (Pirelli’s figure is 75 per cent, Michelin reports segment growth at an even healthier 81.2 per cent). Strong growth in the original equipment business was not matched by the aftermarket, however. Pirelli reports a three per cent drop in European replacement market truck tyre sales during October, while Michelin’s figures show the decline to be 1.5 per cent.

European sales of passenger car tyres during October showed little change compared to a year earlier. Michelin reports a 4.5 per cent year-on-year reduction in the passenger original equipment market, while Pirelli indicates this segment grew, albeit just 0.1 per cent, during the month. Both tyre makers indicate that the replacement passenger car tyre market declined two per cent year-on-year in October 2010.

Despite relatively stagnant performance in most sectors of the European tyre market, overall year to date performance is still much stronger than at this point in 2009. The original equipment truck tyre market has grown by almost a half – Pirelli gives a figure of 49 per cent and Michelin 48.1 per cent. The two tyre makers respectively report replacement truck tyre market growth to be 27 per cent and 20.3 per cent. In Europe’s passenger car tyre sector, the original equipment market grew by around 14 per cent (Michelin gives a figure of 13.9 per cent) while both tyre makers put year to date replacement market growth at seven per cent.