Pirelli to review European supply/demand imbalance
In its most recent report on market trends, Pirelli’s figures showed car and light commercial vehicle volumes in Europe to be down 13 per cent year-to-date in the OE segment and 10 per cent in the replacement business. While separate information for premium tyres is not given, on 5 April Pirelli stated that in response to the economic crisis in Europe and its impact on demand for premium tyres, it is “carrying out a significant review of its commercial structures” in the European market. The Italian tyre maker says this review entails, among other things, more closely integrating its high-end tyre production capacity in Europe with those markets where demand for premium products in highest. These markets are presumably the US and rapidly developing markets – areas where Pirelli says demand is growing approximately three times faster than overall global demand for passenger car tyres.