US tire shipments now expected to decline in 2023

Washington – US tire shipments are set to reach 325.4 million units in 2023, down from 332 million units last year and pre-Covid levels of 332.7 million units, the US Tire Manufacturers Association (USTMA) said 4 Aug.

The projections mark a significant downgrade from USTMA's previous figures, issued 28 Feb, when shipments were forecast to exceed both 2022 and pre-Covid levels (ERJ report).

For 2023, USTMA now expects passenger car tire (PCR) volumes to increase 5.6% year-on-year, to 43.9 million units, in the OE market.

In the replacement market, PCR tire shipments are expected to grow this year by 1.5% year-on-year to 210 million units, the industry association added.

Light truck tire shipments are set to decline both in OE and replacement markets: OE to dip marginally to 6.2 million units, replacement to fall 3.6% to 35.9 million units.

While the OE market for truck tires is expected to remain stable at 6.5 million units, replacement volumes are set to decline 16% to 22.4 million units.

Across all OE tire market segments, shipments will register a total increase of 2.3 million units compared to 2022.

Across all replacement tire market segments, production will be 8.9 million units lower than last year, USTMA concluded.