RMA also sees 2009 tire shipments dropping a further 1%.
The decline marks the first time since 1997 that total U.S. tire shipments will fall below the 300 million mark.
“Overall, the combined OE and replacement tire shipments for 2008 light vehicle and truck categories are anticipated to decrease by more than 20 million units to approximately 290 million total shipments compared to the 310 million total shipments in 2007,” RMA said. “A further slight decline of approximately 3 million total units to nearly 287 million total units is anticipated for 2009 as an economic rebound is unlikely to occur until the latter half of the year.”
The RMA also noted that its current projections do not account for “any changes to the auto industry as a result of recent requests for federal financial assistance or potential for bankruptcy.”
By market segment, here is how RMA sees shipments finishing the year:
• OE P-Metric: Projected to fall by more than 14% vs. 2007 to approximately 39 million units.
• OE LT-Metric: A decrease of approximately 34% in 2008 for a total of 2.9 million OE units, representing a 1.5 million unit decrease from 2007’s total.
• OE Medium Truck: Predicted to decrease by approximately 16% vs. 2007 to nearly 3.9 million units. For 2009, RMA forecasts a further decrease of approximately 8% or 300,000 units.
• Replacement P-Metric: Will see a nearly 2.7% decrease vs. 2007, or approximately 5.5 million units, falling to 198 million units in 2008. No growth is expected for 2009.
• Replacement LT-Metric: A 4.5 million-unit drop – nearly 13% – vs. 2007 to about 29 million units. A further projected 4% decline in shipments is expected for 2009.
• Replacement Medium Truck: RMA forecasts a decline to approximately 15.4 million units in 2008, a decrease of nearly 1.2 million units or 7.1% from 2007. The market will see another decrease of 300,000 units in 2009. (Tire Review/Akron)
