In September Tyres & Accessories published a truck tyre market analysis suggesting there has been a massive shift in UK truck tyre market share distribution in the five years since the last time we did a study of this kind. In short, we found that the market is no longer the three-horse race it was in 2009 when Bridgestone and Michelin were fairly evenly matched ahead of Hankook in third place. Instead it looked like it had become a five-horse race, with Hankook and Goodyear Dunlop duking it out at the top. Of course, we have to be conscious that this all refers to sales volume data (tyre unit sales) as opposed to sales values (and the pound notes tell a wholly different story), however the overall point remains extremely pertinent to understanding what is going in the market.
Earlier this week, with reference to this month’s focus on the UK commercial vehicle tyre market we discussed how on average year-to-date, UK annual demand is reportedly around 80,000 tyres a month, which equates to 960,000 tyres a year (based on ETRMA figures). In the pre-recessionary years it went much further than this, but there was some doubt that market will quickly (if ever) return to levels of 110,000 a month? And has it shifted so much that it is now a five horse race?