Connect with us

News

GfK Data Shows Decline in US Winter Tire Sales

Initial data from GfK’s newly launched tire retail panel in the U.S. shows a 5.6% decline in store sales year over year, with a startling 26% drop in purchases of winter tires.

Advertisement

 

Click Here to Read More
Advertisement

Initial data from GfK’s newly launched tire retail panel in the U.S. shows a 5.6% decline in store sales year over year, with a startling 26% drop in purchases of winter tires.

Advertisement

GfK has built the first POS (point of sale) tracking panel for the US tire retail marketplace, which represents 62% of all tire sales nationwide. Collected from over 3,500 points of sale, the GfK data allows manufacturers and retailers to understand – for the first time – country-wide trends, competitor activities, sale prices, and brand market share.

The new data release shows over 137 million tires were purchased in the independent tire channel during 2017, with an average selling price of $135.31 – a modest $1.71 increase over 2016. More than half (75.5 million) of those tires were for passenger cars, although sell-out in this segment actually dropped 7.1% in 2017, compared to 2016. Three tire sizes – 205 55 R16, 215 60 R16, and 215 55 R17 – led in passenger car sales.

Advertisement

Winter tire sell-out fell to 2.1 million in 2017, a 26% drop year over year. A set of four winter tires cost roughly $22 more in 2017 than 2016 – one possible factor in the sales decline.

“At a time of huge change – from consolidation, e-commerce, and other factors – a consistent view of the independent tire channel is essential to making smart, fact-based decisions,” said Neil Portnoy, managing director of GfK POS tracking in North America. “Manufacturers and retailers need to understand the sources of transformation and respond. Executives selling into or marketing in the channel can use the GfK panel data to take on today’s complex competitive landscape and see opportunities emerging on the horizon.”

Advertisement

GfK’s data also revealed that:

  • the average tire dealer sells 387 tires per shop per month – down from 409 a year ago
  • budget brand sales decreased 6.7% YOY, with an average 2017 sale price of about $98
  • rim sizes larger than 18 inches saw a 6.8% sales increase YOY, while those under 17 inches declined 9.2%

Advertisement
Click to comment

POPULAR POSTS

People

‘Rusty’ Rovere, Owner of Dale’s Tire, Dies at Age 72

AdobeStock Driving Photo 1400 AdobeStock Driving Photo 1400

News

Hankook Survey Shows Drivers Are Hitting the Road Less

Ted Becker Interim TireHub CEO Ted Becker Interim TireHub CEO

News

TireHub CEO Leaves; VP of Sales & Marketing Named Interim CEO

Whitney Moore Women of Tire Pros Whitney Moore Women of Tire Pros

News

Tire Ladies Take the Spotlight at Women of Tire Pros Event

Connect
Tire Review Magazine