As the U.S. economic downturn continues during the COVID-19 pandemic, the U.S. Tire Manufacturers Association (USTMA) projects 2020 U.S. tire shipments will decrease to 279.4 million units in 2020 compared to 332.7 million units in 2019. USTMA said its new forecast represents a small improvement of 5.8 million units from USTMA’s April 2020 forecast adjustment, which was the first preliminary estimate after the declaration of the COVID-19 pandemic.
Compared to 2019, OE shipments for passenger, light truck and truck tires are expected to decrease by 24.5%, 21.0% and 32.6% respectively, with a total reduction of 14.7 million units. Replacement passenger and light truck tire shipments are projected to decrease by 15.2% and 11.8% respectively, with truck tire replacement shipments showing the smallest decline at 5.0%. The total unit reduction for replacement tires is projected to be 38.7 million units.