Tyre market recovered in 2010 - Michelin

ERJ staff report (DS)

Paris - Michelin has updated its website with tyre market data for the month of December and the full year of 2010. The data shows markets a continued recovery in almost all markets, reversing the lower figures seen earlier in the quarter. The site gives only percentage changes, not absolute numbers.

The year so far saw a healthy 54.2 percent growth in European OE truck tyre sales strengthening the growth seen last month. December's sales grew by a massive 105.1 percent growth year on year, building on the 77.0 percent seen in November. The steady improvement in North American truck OE sales continued, with sales in the twelve months up by 25.2 percent, helped by December growth of 37.2 percent.

The Brazilian market's recovery continued in December. The full year showed growth of 51.3 percent, with the December figures up by 17.9 percent. Japan's market growth improved, with sales in the year to date running at 50.9 percent growth, but compared to last December, sales were up by 23.9 percent. China saw growth in OE sales in December, reversing the decline seen in November, with OE sales up by 23 percent in the full year, following a 37.9 percent increase in the month of December.

Truck replacement tyres in December continued to show universal growth. European truck tyre markets grew by 20.2 percent in the full year, and increased by 27 percent in December. North America grew by 19.7 percent in the 12 months, with an increase of 22.6 percent in the year-on-year figure.

In Brazil, a year-on-year increase of 43.1 percent brought the twelve-month figure to 40.7 percent growth. The steady recovery in Japanese replacement truck tyre sales continued in November, up by 10.2 percent in the full year and up by 12.9 percent in the month of December. China sales for the month grew by 27.8 percent in December, making sales in the full year 10.3 percent higher than a year before.

The OE car business has stabilised after the first half boom recovered much of the ground from last year's poor figures. Michelin said the total European OE market for car tyres in 2010 was up by 12.6 percent, while the year-on-year figure for December reversed recent declines, showing a 7.3 percent increase. The North American market also grew strongly over a depressed market a year ago, with the equivalent figures showing an increase of 38.6 percent for the twelve-month period but a year-on-year decrease in December of 4.9 percent.

China's OE demand was up by a massive 33.3 percent in the full year and the increase in December was 19.5 percent.

In the replacement car tyre business, the steady growth in Europe continued. In December the twelve-month figures showed a growth of 8.0 percent with the one-month figure showing 13.6 percent increase. In North America, the replacement market grew by 4.3 percent in the full twelve months, and increased by 1.7 percent in the most recent month. Chinese replacement sales continued to grow strongly, showing growth of 25.3percent in 2010 helped by an increase of 41.3 percent in the most recent month.

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Press release from Michelin