February and March showed some signs of growth with a slight upturn in tire and service sales. April sales results stayed neutral. But May tire unit and service sales took yet another tumble.
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Tire Review’s exclusive dealer panel reported tire unit sales leveled off in final April results, down just 3% vs. the same month last year. Preliminary numbers for May show a decline in retail demand, with unit sales off almost 4% vs. May 2008.
All three product areas – broadline, UHP and LT/SUV – declined in May, with broadline down 3.9%, UHP off 3.7% and LT/SUV falling 3.8% vs. May 2008.
Service Dollars
Final results show that both undercar and underhood service sales were down 1.9% vs. April 2008, and stayed fairly level with March’s -2% results.
May service sales, though, show both undercar and underhood sales declining vs. May 2008. The 3.7% monthly decline came after a slight rebound in February and March from January’s low point.
Dealer Comments
Dealer panel member comments continue to reflect concerns over the economy. Here is a sampling of what they had to say:
• We’re hanging in there!
• Will any of us be able to retire?
• We need more people buying.
• As long as tire dealers keep their prices down we’ll be OK.
• We need people to spend more money.
• It’s tough just trying to keep up with things.
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