Tyre markets – June 2013

The latest figures from Michelin show growth in Europe’s (including Russia and Turkey) tyre markets during June. Both the original equipment and replacement passenger car and light truck tyre markets enjoyed a year-on-year rise; original equipment markets were two per cent above those in June 2012, while the replacement market showed a three per cent increase. Year-on-year growth for Europe’s original equipment heavy truck market amounted to two per cent, with five per cent growth seen in the replacement market.

The growth seen in the passenger car tyre market is a strong contrast from the very poor figures seen in the first quarter, when Europe’s original equipment market fell 11 per cent overall despite a six per cent growth in Eastern European markets, and the replacement market declined nine per cent overall. Year to date market performance is still down for this segment, albeit to a lesser extent than in previous months; in the six months between January and June the original equipment market was three per cent lower than in the corresponding months of 2012, while the replacement market was four per cent lower. 

The heavy truck tyre markets exhibited modest growth in June, with the original equipment market up two per cent year-on-year and the replacement market up five per cent. Year to date, the original equipment market has reached comparative levels to a year earlier, while the replacement market is eight per cent up on the first six months of 2012. 

Other regions

While North America enjoyed growth in the passenger car and light truck tyre business, the heavy truck markets continued to be battered. The original equipment and replacement passenger and light truck tyre markets respectively grew one and three per cent year-on-year in June, which means year to date growth for the original equipment market amounts to four per cent while the replacement market hovers at 2012 levels. The heavy truck tyre original equipment market dropped 14 per cent year-on-year in June and the replacement market six per cent. The two markets are down 13 and two per cent year to date.

It was good news all round in Brazil. Original equipment and replacement passenger car and light truck tyre markets were up 13 and 14 per cent respectively in June, giving a year to date growth of 14 and 12 per cent. In the heavy truck sector, the original equipment market jumped 89 per cent while the replacement market grew a comparatively small five per cent in June; respective year to date growth between January and June is 44 and 11 per cent. 

China’s passenger car and light truck tyre market also continued to grow. During the month of June the original equipment segment rose eight per cent year-on-year while the replacement market was up four percent; year to date these where 13 and nine per cent higher than in the first six months of 2012. Michelin’s market figures, which only cover the market for radials, do not include results for China’s heavy truck market.