European replacement tire markets recover in third quarter

Brussels – The European replacement tire market registered gains in all segments in the third quarter of 2024, the European Tyre & Rubber Manufacturers’ Association (ETRMA) has reported.

Helped by strong growth in sales of all season tires, the consumer tire market recorded 5% year-on-year increase for the three-month period ended 30 Sept.

The hard-pressed truck & bus tire sector also entered positive territory with sales up 2% versus third quarter 2023, ETRMA’s data issued 29 Oct shows.

Gains were also seen in European demand for agricultural tires and moto & scooter tires up by 5% and 13% respectively.

For the first nine months of the year, consumer tire volumes grew 3% overall, again largely reflecting robust growth in sales of all-season tires.

Winter tires also witnessed an 2% year-on-year increase in volumes while summer tires posted a 3% decline for the period.

Agricultural tire sales increased 3% compared to the first nine months of 2023, two-wheeler tires came in 3% higher year-on-year.

On the other hand, the truck & bus tire segment registered a year-to-date decline, with sales 2% behind the level recorded for the first three quarters of 2023.

Summarising, ETRMA secretary general Adam McCarthy said that while the third quarter evolution was positive year-on-year in all product lines, this was mainly due to a weak performance in the third quarter 2023.

 “Starting from a low base, the evolution of volumes in the first three quarters of 2024 is improving in the consumer segment, mainly thanks to all seasons tires,” he commented.

But the sales trend “is still negative in the truck tire segment,” added McCarthy, noting that the same period of 2023 saw year-on-year volume declines of  8% for consumer tires and 17% for truck tires.

“In both the consumer and truck segments we are still far from pre-pandemic, with volumes in the first three quarters down respectively 6% and 11% versus the same period of 2019,” the ETRMA leader concluded.

ETRMA: Replacement tire sales development to Q2/H1 2024

Sources: Europool ETRMA

*Consumer = Passenger car, SUVs and light commercial vehicles;  n/s = not supplied