ETRMA: Replacement tire market continues positive trend

Brussels – The European replacement market for passenger car and truck tires remained strong in the second quarter of 2022, with both segments reporting growth over the three months to end of June.

Figures published 13 July by the European Tyre and Rubber Manufacturers’ Association (ETRMA) showed that replacement consumer tires saw an overall growth of 6% year-on-year to 56 million units, during the three-month period.

The increase reflected 27% and 28% year-on-year growth in the all-season and winter tire segments respecitvely and a decline of 5% in summer tire sales.

The truck and bus replacement segment also reported a strong 11% increase, with 3.5 million units sold, while the moto & scooter segment remained flat with 2.8 million units.

Bucking the positive trend, the agricultural tire segment, however, reported a sharp 21% decline to 256,000 units during the period, making it the only category still performing below 2019 volumes.

ETRMA linked the growth in the consumer and truck tire segments to the economic recovery, but noted the slowdown in the consumer segment.

“We observe signs of declining demand and fear that the challenges linked to the rising cost of gas, the raw materials and the semi-finished products supply will maintain the industry under pressure”, said Fazilet Cinaralp, secretary general of ETRMA.