Deutsche Bank has a dim view of the North American tire market for the remainder of 2011.
The company lowered its estimates on both Goodyear and Cooper based on "evidence" that the replacement tire market was faltering.
According to Deutsche Bank, U.S. replacement tire sales fell 11.2% in May following a 2.3% decline in April. Comparing the second quarter of 2011 to the same period last year, volumes are down 7.6%, while first quarter sales were up 5.8%.