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.
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.
Michelin’s February tyre demand data shows a sequential improvement in replacement demand in most markets. With China and Brazil being the only real exceptions, basically every other showed month-on-month increases – the first positive uptick months.
The situation in China however, is somewhat bleaker. According to the Michelin tyre demand data, Chinese passenger car tyre replacement demand dropped -13 per cent from growth of +18 per cent in January. “This is a worrying indicator for broader China consumer demand”, Morgan Stanley market analysts wrote in an investor’s note data 13 March 2015.