ETRMA: Unenviable tyre sales trend continues in Q1 2023

Tyre makers belonging to the European Tyre and Rubber Manufacturers’ Association (ETRMA) experienced a “significant drop” in replacement market sales demand during Q1 2023, reports the ETRMA. Compared to the first quarter of last year, sales within the replacement consumer tyre segment declined 12 per cent and replacement truck and bus tyre market sales demand shrank by 18 per cent. While sales of moto tyres were just three per cent below the prior year figure, agricultural tyre sales were 39 per cent lower.

The only product category within the replacement consumer tyre segment to increase sales was all-season tyres, with the market for these growing by one per cent year-on-year. Tyre makers were presumably in no mood to celebrate this achievement, however, as the development was accompanied by a 13 per cent year-on-year decline in summer replacement consumer tyres and a 26 per cent drop in demand for winter tyres.

“After negative trends in the second half of 2022, the sales volumes of ETRMA member companies in the first quarter of 2023 are down for all product categories compared to the first quarter of 2022,” comments Adam McCarthy, ETRMA secretary general. “The drop has to be seen in the context of the ongoing high inflation in all European markets and the continued negative impact of the war in Ukraine, particularly on energy prices.”

Compared to Q1 2019, truck and bus tyre sales remained at the same level, but sales of consumer replacement tyres dropped by four and a half percentage points.