ETRMA: Europe tire market 'stabilising' despite Q3 falls

Brussels – European replacement tire sales fell in all categories over the three months to end of September, the latest quarterly figures from the European Tyre and Rubber Manufacturers’ Association (ETRMA) show.

“But, despite the negative third quarter, the trends reported by ETRMA members indicated a general stabilisation of the market,” said the 14 Nov report from the Brussels-based association.

Passenger car tire sales continued to fall in the third quarter, down 2% year-on-year to 58.4 million units. Over the nine months to end of September, the figure dropped 3% to 159.4 million units, compared to the same period the previous year. 

After an encouraging second-quarter recovery, truck tire replacement sales decreased 2% to 2.9 million units – though, overall results for the first nine months remained positive, up 3% year-on-year to 8.1 million units.

Agricultural tire sales were in steep decline in the third quarter, with a sharp 8% fall to 273,000 units. Over the nine-month period, the figure registered a 6% drop to 954,000 units.

For the first time this year, motorcycle tire sales also decreased during the quarter.  

Unit sales of motorcycle tires fell 2% year-on-year to 1.8 million in the three months to 30 Sept.  However, the overall results for the first nine months of the year show a 2% improvement to 7.9 million units compared to last year.