European Tyre and Rubber Manufacturers’ Association Figures suggest an ongoing economic struggle reflected in tyre sales.
ETRMA Manufacturers’ Figures Show a Mixed Message
While the trend in tyre manufacturing cumulative volumes at the end of September remains positive, the third quarter evolution is negative for all product segments, according to the ETRMA. This is probably a sign of a market reversal after the recovery observed since 2021.
When looking at the third quarter of this year, sales are in the negative for all segments, with a 9% decrease for both consumer and truck and bus tyres. Agricultural tyre sales continue their descent, this quarter by a striking 28%. The good results of the previous quarters help to deliver a year-to-date performance that is positive compared to 2021 – with the exception of agricultural tyres.
The decline in the agricultural sector is reflected in sales figures across Europe.
“In addition to strains on the supply of raw materials and energy, with the massive increase of their costs (about +60% since 2019), as well as those of logistics and labour, we are beginning to observe a slowdown in demand. If the inflationary trend and supply tensions persist, we can fear a very difficult year-end 2022 and year 2023”, said Mrs Fazilet Cinaralp, ETRMA’s Secretary General.