Global tyre markets May 2015

Weakness in the Russia and CIS region held European passenger car and truck tyre sales back in May 2015. According to market figures released by Michelin yesterday, the original equipment passenger car tyre market in Europe (including Russia/CIS and Turkey) remained at the same level as May 2014, while the replacement market shrank three per cent year-on-year. These two markets are still respectively three per cent and one per cent higher year-on-year for the January to May 2015 period.

The European original equipment and replacement truck tyre markets were both one per cent lower than a year earlier in May. Year to date, the original equipment market is up two per cent year-on-year, while the replacement tyre market is three per cent lower than it was in January to May 2014.

North America’s tyre market showed strength in the original equipment sector, with OE passenger car tyre sales rising two per cent year-on-year in May and OE truck tyre sales eight per cent. These are up three per cent and 17 per cent respectively year to date. Replacement passenger car tyre sales were one per cent lower than in May 2014 and replacement truck tyre sales six per cent down.

Brazil proved this month’s biggest loser, with its original equipment tyre sales continuing their race to the bottom. Original equipment passenger car tyre sales shrank 17 per cent year-on-year, while OE truck tyre sales were 40 per cent lower than in May 2014. Year to date, OE passenger car tyre sales are 15 per cent below January to May 2014 figures, while OE truck tyre sales are down 44 per cent. The news isn’t much better in Brazil’s replacement market, either. Sales of passenger car tyres were down two per cent year-on-year in May, while truck tyre sales were ten per cent lower. Year to date figures show that replacement passenger car sales are at the same level as in January to May 2014, while replacement truck tyre sales are eight per cent below last year’s figure.

China enjoyed growth in both its original equipment and replacement passenger car tyre markets in May; OE tyre sales were five per cent higher than a year ago, while replacement market sales were up 12 per cent. Year to date, these markets are respectively seven per cent and eight per cent higher. Michelin did not supply figures for China’s truck tyre market.