US Tire Sales In Summer Increased By 14%

- Oct 10, 2019-

According to GFK's data feedback, tire sales in the US market in the first half of 2019 increased by 1.5% compared with the same period last year. Among them, the sales volume and sales of light truck tires increased by 11% year-on-year, while tires of 18 inches and above increased sales by 8% and sales by 7%. In addition, sales of explosion-proof tires also increased by 1.5%.

The only significant drop is the ultra-high performance tires. In the first half of 2019, sales of ultra-high-performance tires fell by 1.6%, and sales fell by 3%.

Unusually high temperatures around the world are a major factor in the rise in summer tire sales. On August 1, UN Secretary-General Antonio Guterres said that the latest data from the World Meteorological Organization showed that the global temperature in July this year has exceeded the record of the "highest temperature" in history. In many areas, due to high temperatures, frequent tire explosions have occurred.

Another big event that also occurred in the US market was the announcement by Michelin North America that starting on September 1st, the price of some of the Michelin and BFluchi passenger car tires and pickup truck tires increased by 5%. . Just a little earlier, Michelin has announced that China will raise prices from August 1.

From the CPI index of American tire products, the rising trend of tire prices in the North American market has gradually formed. Since 2012, due to the decline in prices of raw materials such as natural rubber, the US tire CPI index has been in a downward phase, and in September 2018 it fell to 121.9 points. This year, due to the pressure of operating pressure on tire companies and the rise in prices of some raw materials, tire prices have rebounded. As of the end of June 2019, the index has risen to 125.3 points.