Ukraine crisis clouds positive first quarter for EU tire makers

Brussels – The European Tyre and Rubber Manufacturers’ Association (ETRMA) has reported year-on-year sales increases in almost all tire market segments for the first quarter of 2022.

The figures for replacement tire sales by member ETRMA companies, included a 9% rise in consumer sales to 61.7 million units – helped particularly by a 22% lift in all-seasons tyre sales.

Economic recovery, meanwhile, drove a 10% rise in truck & bus tire sales, to 3.7 million unts, and 9% higher motorcycle & scooter tire sales, to 3.6 million units.

Bucking the positive trend, the agricultural tire segment registered a 7% decline in replacement sales, to 344 million units – linked to “low seasonality” compared to the prior-year first quarter.

For the market as a whole, ETRMA noted that the pace of growth had slowed down in March due to “uncertainties” and the impact of the Russia - Ukraine conflict.

“Raw material and energy supply tensions coming from the current situation, are likely to affect sales volumes in the coming months,” stated Fazilet Cinaralp, secretary general of the ETRMA.

“We all hope that in the weeks to come, we will assist to a conflict resolution to stop the war and re-establish the peace”, concluded Cinaralp in the 13 April release.