Sales of truck tires to European OEM customers during October 2010 were significantly above those of a year earlier. According to market data made public by Pirelli and Michelin, OE truck tire sales rose by at least 75% year-on-year (Pirelli’s figure is 75%; Michelin reports segment growth at an even healthier 81.2%).
Strong growth in the OE business was not matched by the aftermarket, however. Pirelli reports a 3% drop in European replacement market truck tire sales during October, while Michelin’s figures show the decline to be 1.5%.
European sales of passenger car tires during October showed little change compared to a year earlier. Michelin reports a 4.5% year-on-year reduction in the passenger OE market, while Pirelli indicates this segment grew, albeit just 0.1%, during the month. Both tiremakers indicate that the replacement passenger car tire market declined 2% year-on-year in October 2010.
Despite relatively stagnant performance in most sectors of the European tire market, overall year to date performance is still much stronger than at this point in 2009. The OE truck tire market has grown by almost a half Pirelli gives a figure of 49% and Michelin 48.1%. The two tiremakers, respectively, report replacement truck tire market growth to be 27% and 20.3%. In Europe’s passenger car tire sector, the OE market grew by around 14% (Michelin gives a figure of 13.9%) while both tiremakers put year to date replacement market growth at 7%. (Tyres & Accessories)