EU Passenger Car Tyre Sales up 12 per cent
European passenger car sales grew 12 per cent during May (up 2.5 per cent year-to-date), while the truck tyre market is said to have grown 17 per cent (up 1 per cent year-to-date). Deutsche Bank analysts report that the figures sourced from Michelin point to a completely different story in North America.
North American tyre sales fell 2.4 per cent in the passenger car segment (-4 per cent year-to-date), while truck tyre sales dipped 11 per cent (-6 per cent year-to-date). The analysts remark that unit volumes are “slightly positive” year-to-date in Europe, but “very negative” in North America. “However, for Michelin the month of June remains key since that specific month represent 25 per cent of their first half volumes,” the analysts concluded.