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USTMA: U.S. 2020 Tire Shipment Outlook Improves

USTMA’s November forecast represents a significant improvement of nearly 19 million units from the 2020 volume it forecasted in July.

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The U.S. Tire Manufacturers Association (USTMA) projects U.S. tire shipments will total 298.3 million units by the end of 2020, compared to 332.7 million units in 2019.

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This forecast represents a significant improvement of nearly 19 million units from the 2020 volume USTMA forecasted in July, reflecting industry resilience in the face of unprecedented challenges posed by the COVID-19 pandemic.

Compared to 2019, OE shipments for passenger, light truck and truck tires are expected to decrease by 20.4%, 18.0% and 29.0% respectively, with a total reduction of 12.4 million units, USTMA says. Replacement passenger and light truck tire shipments are projected to decrease by 9.5% and 1.8% respectively, with truck tire replacement shipments showing a modest decline at 2.1%. The total unit reduction for replacement tires is projected to be 22.0 million units.

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