Analysts: US Replacement Tyre Market Recovering
In the US, RMA members reported that replacement tyre demand grew 9.3 per cent year-on-year in December 2009, from a drop of -16.0 per cent the year before. Financial analysts pointed out that the overall market volume grew 6.1 per cent, implying that domestic tyre manufacturers (namely Cooper Tire and Goodyear) continued to experience market share gains. The is believed to be a result of last year’s Chinese-made tyre tariffs as Chinese produced tyres reportedly occupied 16.6 per cent of the US market in 2008.