Tire shipments to increase by approximately 2%

qiangzi

Tire shipments to increase by approximately 2%
Thursday, March 8, 2012

$ M! N7 d6 @, P: UWashington, DC - Tire shipments in 2012 are projected to increase by approximately 2%, nearly six million units, to 290 million units, according to the Rubber Manufacturers Association. For 2011, tire shipments showed a slight 0.2% decrease to 284 million units. Original equipment tire shipments for both the light vehicle and commercial truck markets will make up the bulk of the increase in 2012 as continued pent up demand for both for light vehicles and commercial trucks will add to domestic new vehicle sales and production. Passenger OE tire shipments are anticipated to increase by approximately three million units, or nearly 8%, to 38.6 million units in 2012 as domestic vehicle production is expected to increase. Growth in replacement tire shipments is expected to be less than 1%, or approximately 242 million total units in 2012. Replacement passenger tire shipments decreased in 2011 by 6.2 million units, or 3.1%, to 194.4 million units as vehicle miles travelled fell 1.2%. The economy is expected to continue to experience a slow rebound in 2012 commensurate with a small increase in miles driven. As a result, an approximate 1% growth rate, or nearly two million units, is forecast for 2012. Non-RMA imports decreased nearly 9% in 2011 but an approximate 7% increase is anticipated for 2012.