European market growth moderate in October, reports Michelin
Figures released by Michelin indicate year-on-year growth for Europe’s original equipment and replacement consumer tyre markets during October 2011, however the month’s results show growth of less than half the year to date amount. According to Michelin, the European (including Russia and Turkey) passenger car and light commercial vehicle original equipment market grew 2.5 per cent in October compared with the same month of 2010. The replacement market grew 3.8 per cent year-on-year during the same period. Year to date, the original equipment grew an average of 7.6 per cent year-on-year between January and October 2011, while the replacement market grew 7.9 per cent.
Heavy truck market growth in Europe was strongly down in October compared with the year to date as a whole. While the original equipment sector grew 9.8 per cent during the month, this figure was considerably lower than the 43.0 per cent growth measured between January and October. The European truck replacement market shrunk 6.8 per cent year-on-year in the month of October; year to date, this sector has enjoyed 8.8 per cent growth.