The latest figures from Michelin show growth in Europe’s (including Russia and Turkey) tire markets during June. Both the OE and replacement passenger car and light truck tire markets enjoyed a year-on-year rise; OE markets were 2% above those in June 2012, while the replacement market showed a 3% increase. Year-on-year growth for Europe’s OE heavy truck market amounted to 2%, with 5% growth seen in the replacement market.
The growth seen in the passenger car tire market is a strong contrast from the very poor figures seen in the first quarter, when Europe’s OE market fell 11% overall despite a 6% growth in Eastern European markets, and the replacement market declined 9% overall. Year to date market performance is still down for this segment, albeit to a lesser extent than in previous months; in the six months between January and June the OE market was 3% lower than in the corresponding months of 2012, while the replacement market was 4% lower.
The heavy truck tire markets exhibited modest growth in June, with the OE market up 2% year-on-year and the replacement market up 5%. Year to date, the OE market has reached comparative levels to a year earlier, while the replacement market is 8% up on the first six months of 2012.
Other regions
While North America enjoyed growth in the passenger car and light truck tire business, the heavy truck markets continued to be battered. The OE and replacement passenger and light truck tire markets respectively grew 1% and 3% year-on-year in June, which means year to date growth for the OE market amounts to 4% while the replacement market hovers at 2012 levels. The heavy truck tire OE market dropped 14% year-on-year in June and the replacement market 6%. The two markets are down 13% and 2% year to date.
It was good news all round in Brazil. OE and replacement passenger car and light truck tire markets were up 13% and 14%, respectively, in June, giving a year to date growth of 14% and 12%. In the heavy truck sector, the OE market jumped 89% while the replacement market grew a comparatively small 5% in June; respective year to date growth between January and June is 44% and 11%.
China’s passenger car and light truck tire market also continued to grow. During the month of June the OE segment rose 8% year-on-year while the replacement market was up 4%; year to date these where 13% and 9% higher than in the first six months of 2012. Michelin’s market figures, which only cover the market for radials, do not include results for China’s heavy truck market. (Tyres & Accessories)
