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Global light vehicle market continues recovery

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The global light vehicle market continued its post-corona recovery in June, market analysts report. Global light vehicle sales fell by 19.1 per cent in June, year-on-year, to 6.2 million for a seasonally adjusted annualised running rate (SAAR) of 73.1 million in the month, according to GlobalData.

Calum MacRae, Automotive Analyst at GlobalData, comments: “While these results are some way behind industry norms, they do demonstrate that the global market has recovered from its April low when a SAAR of 48.2 million was registered.”

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MOTs worth £177 million a year in UK tyre sales

Autotech

Together, the increased utilisation of independent contractors on the supply side and record online search figures on the demand side show that MOT testing is booming. Considering that MOTs were put on hold for roughly four-and-a-half months between March and August (let’s not even mention the Northern Ireland MOT crisis), this is good news. Word of a coming MOT spike will be warmly welcomed by the tyre and aftermarket associations that lobbied government for the end of the MOT extension on both road safety and economic grounds. But what exactly does the apparent boom look like? And why does it matter to the tyre trade?

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How the UK aftermarket is enduring Brexit and lockdown weather

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Perfect Storm? How the UK aftermarket is enduring the Brexit and lockdown weather (Photo: Herbert Santos; Pexels)Herbert Santos; Pexels

The last time Tyres & Accessories took a close look at the aftermarket sector back in July 2019, we took the optimistic view that the UK aftermarket space would be able to weather the Brexit storm. Of course, back then Brexit and trans-Atlantic trade wars were the most significant pressures on aftermarket parts segment. Now, however, things are considerably more complex and unpredictable. So, in this analysis we examine the most recent pre-lockdown data as well the latest mid-lockdown information in order to answer the question: is the UK aftermarket still weathering the storm?

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  1. Tyre dominance in overall aftermarket beginning to diminish
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Global car tyre demand to contract 20-30 per cent in 2020 – GfK

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GfK

On the morning of 10 June 2020, well-respected market analysts GfK hosted an webinar for north of 170 European tyre executives. Overall, the “Global Car Tyre Market Overview” presentation concluded that, while there are many variables and unknowns, retail tyre demand in 2020 market is likely to be down 20-30 per cent compared with 2019.

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  1. Tyre demand declining 15 to 26 per cent in 2020
  2. High performance tyre segment growing across Europe
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  4. Michelin temporarily closes some European factories, car tyre demand down 9%
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Looking forward to recovery – be it L, U or V-shaped

Anna; Pexels

Last month this column considered the range of 2020 market projections that existed. In short, as the column concluded, the consensus is that tyre demand will decline somewhere between 15 and 26 per cent during the course of this year. However, such a conclusion may also be on the conservative side. Certainly, when you talk with tyre wholesalers and distributors on the ground, some of those that didn’t opt to close their doors for a few weeks experienced even more marked declines in the short-term. Reports of tyre shops running on demand 70 to 75 per cent less than pre-lockdown levels are not uncommon. And yet, as lockdown eases across various UK and European markets – as well as beyond – the focus is quite rightly shifting to recovery.

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Tyre demand declining 15 to 26 per cent in 2020

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Tyre demand decline predictionsenergepic.com; Pexels

Things are changing so quickly at the moment that most analyses end up little more than speculation two weeks later. That’s why Tyrepress contains both the latest news and seeks to set such developments into their medium- and long-term contexts. Take our Tyre Retail coverage for example (see “2020 UK tyre retail ranking” and “Which garages are open during lockdown“) where we list both the current proportions of open tyre retailers and analyse the overall UK tyre retail landscape in its seven-year context.

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More than half of UK garages closed, similar figures across Europe

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GiPA Europe garage lockdown data

Research conducted by aftermarket analysts GiPA during the week commencing 30 March 2020 found that 53 per cent of workshops were closed.

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Halfords charges into second place in the 2020 UK tyre retail ranking

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Autocentres and tyre retail specialists

At the moment it is easy to get side-tracked by all the talk of the coronavirus. But, while it is clearly an important subject, the tyre business has a century or more of pre-history, has a present and has a future. With this in mind, May’s edition of Tyres & Accessories continues in line with the last eight years of research by counting and ranking the nation’s largest tyre retail chains.

The methodology is simple, we contact companies, consult publicly available sources and use third-party data where necessary in order to triangulate our tyre retail landscape. Of course, the present circumstances may look significantly different due to the nations’ current lockdown status (see “Which Garages are Open During Lockdown“). However, the shape of the tyre retail business before the lockdown will surely help the retail trade strategize for its ongoing future after lockdown, making this data as actionable as ever.

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JATO Dynamics appoints new CEO

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JATO Dynamics

JATO Dynamics, which provides global automotive data, has David Krajicek as its CEO, effective 13 April 2020. Dr Krajicek has over 25 years’ experience. He joins from GfK where he had been at the helm as CEO of GfK Research since 2017.

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UK car drivers increasingly interested in all-season tyres

Evidence from a number of market research sources concurs – increasing numbers of motorists are choosing all-season tyres for their cars. The first indication came from GfK data, which compared the percentage growth of all-season tyre sales reported by its UK panelmarket (in terms of volume and value) in 2018 with seasonal tyre sales during 2019. Winter tyre sales volumes were down 1 per cent last year. During the same period, winter tyre values fell three times faster (down 3 per cent).

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2019 UK car tyre stagnation, but strong all-season and SUV tyre growth

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Vredestein VW Touareg all-season

The combination of political disruption and Brexit uncertainty made 2019 a tough year for the UK economy in general, so it is not surprising to learn that this was reflected in the overall passenger car tyre replacement market. According to the latest sell-out UK tyre replacement market data collated by analysts at GfK, the headline news is that both the value and the volume of the decreased in 2019. But there are reasons for hope, with signs of growth remaining in the value-rich SUV tyre sub-segment and with evidence of strong growth in sales of all-season tyres.

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Why sensorisation means ADAS and ADAS means calibration equipment

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ADAS calibration

As the road to autonomy continues, companies such as Tesla, Uber, Ford, and Toyota are putting an increased emphasis on reaching the ultimate goal of ‘Level 5’ autonomous vehicle operation. With self-driving cars becoming closer to reality, advanced driver assistance systems (ADAS) are rapidly becoming commonplace in modern cars. Today, an increasing number of vehicles are equipped with ADAS, featuring collision avoidance, autonomous braking in emergencies, cruise control, and self-parking. Moreover, several safety organizations are lobbying governments to mandate at least two types of ADAS in all new vehicles. As of 2022, new safety technologies such as advanced emergency braking systems (AEBS) and forward collisions warning systems (FCWS) will become mandatory in vehicles in the US and Europe. With this in mind and following the publication of “ADAS Calibration Equipment Market” by Future Market Insights, Tyres & Accessories got in contact with one of the report’s writers, Alice Ajit Mutum, in order to find out more. According to her Future Market Insights biography, Mutum is an experienced market research writer and has written extensively on the industrial automation and equipment, and automotive domains.

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Tire Industry Project published ELT report

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The 2019 TIP ELT report

On 4 December 2019 the Tire Industry Project (TIP) published its 2019 report on the global End-of-Life Tyre (ELT) business.

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Global CCD wheel alignment business to grow 4.2% CAGR 2017-2026

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Wheel alignment on a Ford Focus

New research suggests that the volume of sales of Charged Coupled Device (CCD) wheel aligners will “remain robust” in the decade between 2017 and 2026. Specifically, the Fact MR report states that the Global CCD Wheel alignment business will grow at a Compound Annual Growth Rate (CAGR) of 4.2 per cent in the period between 2017 and 2026. To put this into context, another report published by Verified, suggests that the global automotive wheel alignment system market was valued at $388.6 Million in 2018 and is projected to grow at a CAGR of 4.47 per cent to reach $481.4 Million by 2026.

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East European trailer demand downgraded due to Turkey instability

Demand for trailers grew by 4.4 per cent in Eastern Europe in 2018, according to the latest research released by Clear. The market has grown every year for the last six years, but that growth has been quite moderate.  Nevertheless, trailer sales in 2018 were the third highest on record, only surpassed in 2007 and 2008.  The forecast for 2023 is that registrations of new trailers will be heading towards an all-time record.

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