OE Truck Tyre Sales a July European Highpoint
European sales of passenger car and light truck tyres during July were well below the market growth previously seen in the year to date. According to data released by Michelin and Pirelli, the original equipment market experienced either slight year-on-year growth or a small decline – Michelin reports a 1.1 per cent year-on-year growth for this sector in July, while Pirelli reports a two per cent market shrinkage during the month. These modest results contrast with year to date original equipment market growth of at least 20 per cent; Michelin reports this growth to be slightly higher, at 21.4 per cent. Year-on-year growth in the replacement passenger car and light commercial vehicle tyre market stood at around five per cent during July (5.1 per cent according to Michelin’s figures), again lower than Michelin and Pirelli’s respective year to date growth figures of 9.1 per cent and 10 per cent respectively.
One area of strength in Europe was the original equipment truck tyre market. According to Michelin, this market grew 74.0 per cent year-on-year during July, while Pirelli puts the growth at 73 per cent. Regardless of which is closest to the actual figure, the month’s market growth makes year to date growth figures pale in comparison. Michelin reports this as being 33.3 per cent and Pirelli 35 per cent. Europe’s replacement truck tyre market grew 13.3 per cent during July, reports Michelin, while Pirelli reports this growth as being 11 per cent. These figures peg the market’s monthly growth well below year to date growth of 26.3 per cent or 25 per cent, as reported by Michelin and Pirelli respectively.