Market and product
Global tire industry keeps growing
Michelin group has trimmed its data, removing information from the Middle East and Africa and merging east and west European data, and reducing South American data to cover Brazil only. Also data from Japan, Korea and Southeast Asia has been restricted.
In truck tire markets, Europe´s growth of 87.6 percent in the OE market in the year to date slowed marginally in February to 86 percent. On the replacement side, growth in the first two months of 22.1 percent accelerated to 27.5 percent in February. The company has merged data for Western and Eastern Europe, reducing the number of regions it tracks.
In the Americas, North American OE markets rose by 56.5 percent in the year to date and accelerated marginally to 57.6 percent in the month of February, while replacement sales were up by 21 percent in the year to date and accelerated sharply to 29.9 percent in February.
In Brazil, OE sales rose by 23.9 percent in the first two months, accelerating to 28.9 percent in February, while replacement sales were up by 27.9 percent in the year to date and by 33.9 percent in February.
In Asia, China saw a decline of 6.1 percent in OE sales in the year to date, but that reversed in February with 1.1 percent growth, while replacement sales were up by 9.9 percent in the year to date, but February sales were level with last year´s. Michelin did not report sales in Japan, Korea or South-east Asia.
In car tire markets, Europe showed growth of 8.6 percent in the OE market for the first two months, slowing to 6.3 percent in February. On the replacement side, growth in the year to date was 13.7 percent, more or less matched by growth of 12.8 percent in February.
In the Americas, North American OE markets rose by 16.2 percent in the year to date and by 15.1 percent in February, while replacement sales were up by 8 percent in the year to date, but slowed sharply to 2.5 percent growth in February.
In Brazil, OE sales rose by 7.9 percent in the year to date and by 10.9 percent in the most recent month, while replacement sales were up by 8.7 percent over the two months and by 10.9 percent in February.
