Global tyre markets – June 2021

Reporting market trends for the month of June, Michelin notes that the current shortage of semiconductors strongly dampened recovery within the global automotive industry, which impacted upon sales of original equipment passenger vehicle and light truck tyres.

OEM car & light truck tyres

Global sales of these products in June were just one per cent higher than they were a year earlier, and sales in Western and Central Europe (which includes Turkey in all figures given here) remained approximately at June 2020 levels. China experienced a strong year-on-year decline on historically high levels, dropping 20 per cent in June 2021. North and Central America was the only region to continue growing strongly, enjoying ten per cent year-on-year growth during the month.

Looking at the first six months of the year, original equipment car and light truck tyre sales are up in all regions, with global sales 27 per cent higher than in the first half of 2020. Western and Central Europe experienced 26 per cent growth, North and Central America 36 per cent growth, and China 22 per cent growth.

Replacement car & light truck tyres

Aftermarket car and light truck tyre sales were up 20 per cent worldwide in June. Strong growth was the norm in most regions – the exception here was China, where the market has already returned to a pre-crisis level. Sales in Western and Central Europe were 26 per cent higher year-on-year in June, North and Central America 27 per cent. China experienced a two per cent decline.

Growth during the first half of 2021 was strong for all regions and amounted to a 25 per cent increase worldwide. Sales of replacement market car and light truck tyres rose 22 per cent year-on-year in Western and Central Europe in the six-month period. Growth in North and Central America amounted to 37 per cent, while China experienced 15 per cent growth.

OEM truck & bus tyres

A favourable economic environment aided continued growth in original equipment (and replacement) markets in June 2021. The year-on-year increase in Europe and the Americas was significant, albeit on low 2020 sales. Although Michelin doesn’t provide percentage figures for China, it notes that a decline in the country’s truck and bus market “penalised” global original equipment tyre demand, where overall year-on-year growth of just three per cent in June 2021 was far below the increases experienced in several regions.

Sales of original equipment truck and bus tyres rose 37 per cent year-on-year in Western and Central Europe during the month. Growth in North and Central America was even more pronounced, at 45 per cent, while South America experienced an impressive 56 per cent year-on-year growth.

Global segment growth for the six months to 30 June 2021 came to 29 per cent. Again, this was driven by performance outside China: Sales in Western and Central Europe were up 50 per cent, and in North and Central America they were 46 per cent higher. Sales grew 55 per cent year-on-year in South America.

Replacement truck & bus tyres

The global truck and bus tyre aftermarket increased 15 per cent year-on-year in June 2021. As was the case in the OEM segment, this increase was held back by China.

June sales in Western and Central Europe were up 28 per cent year-on-year, while in North and Central America they were 44 per cent higher than a year earlier. The figure for South America was 34 per cent.

For the six months to 30 June 2021, global truck and bus tyre aftermarket sales were 22 per cent higher than during the first half of last year. Western and Central Europe saw sales increase 27 per cent, North and Central America 35 per cent, and South America 30 per cent.