7 Mar 2024
USTMA's February forecast signals return to 2019 levels across most market categories
Washington – The US Tire Manufacturers Association (USTMA) expects total tire shipments in the country to grow by 1.1% year-on-year in 2024, the industry group has announced.
Overall, USTMA projects that tire volumes will reach 335.7 million units in 2024, compared to 331.9 million units in 2023 and 332.7 million units in 2019.
The projected total surpasses the previous record of 335.2 million units in 2021, USTMA said in its February forecast published 5 March.
Compared with 2023, OE shipments for passenger car and light truck tires are set to grow by 1.4% and 2.6% to 46.3 million and 6.0 million units respectively.
Truck & bus replacement volumes, however, are forecast to decline 3.3% year-on-year to 6.0 million units.
In the replacement market, USTMA expects year-on-year growth across all tire types.
Passenger car, light truck and truck tire volumes are expected to increase year-on-year by 0.5%, 2.8%, and 5.9% respectively, with a total increase of 3.2 million units.
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