European Replacement Tire Sales Plummet Across All Segments in Q3

European Replacement Tire Sales Plummet Across All Segments in Q3

ETRMA reported declines ranging from -6% in consumer to -21% in agricultural tires, warning of economic threats hammering demand.

The European Tyre and Rubber Manufacturers’ Association (ETRMA) published its members’ replacement tires sales data for Europe for the third quarter of 2023. Figures reported a significant decline across all segments, confirming a negative market trend, ETRMA said. Q3 2023 showed a 6% decline in the sale of consumer replacement tires compared to Q3 2022. Similarly, the truck and bus tire (TBR) segment recorded a -7% variation. However, the most impacted markets were the agricultural (-21%) and motorcycle/scooter (-20%) tires.

Besides the challenges brought by global economic insecurity, ETRMA said its replacement pool market is likely losing market share to non-pool tire manufacturers.

“The downturn in the market reflects a complex interplay of factors, such as the continued increases in the cost of raw materials, energy, logistics and labor,” Adam McCarthy, ETRMA’s secretary general, said. “This inflationary landscape has led to “a significant drop in demand.”

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