Lower Q3 2023 sales, market share for ETRMA members

The European Tyre and Rubber Manufacturers’ Association (ETRMA) has published its members’ replacement tyre sales data for Europe during the third quarter of 2023, reporting a “significant decline across all segments” that continues the negative market trend seen in the first half of the year.

Association members’ sales of consumer replacement tyres were down six per cent year-on-year in Q3 2023 despite a positive trend in vehicle registrations. Sales in the truck and bus tyre segment were seven per cent lower, year-on-year. However, the most impacted markets were agricultural tyres, where sales were 21 per cent below those in Q3 2022, and motorcycle & scooter tyres, which experienced a 20 per cent drop in sales.

In addition to the challenges brought by global economic insecurity, the ETRMA observes that its members’ replacement tyres are losing market share to non-member manufacturers. “The downturn in the market reflects a complex interplay of factors, such as the continued increases in the cost of raw materials, energy, logistics, and labour,” comments Adam McCarthy, ETRMA secretary general. He adds that this inflationary landscape has led to “a significant drop in demand” that is “likely causing a corresponding reduction in inventory.”