The ETRMA has published the first quarter results for the replacement tyre markets. The figures show increases for the truck & bus tyre segments and a drop for the agricultural tyre segment, which ETRMA explains is due to low seasonality.
Market Stays Firm in First Quarter, Although ETRMA Warns of Taxing Times Ahead
There were 3,674,000 replacement truck and bus tyres sold in the first quarter, which is 10% up compared to the 3,335,000 tyres sold during the same period in 2021. Replacement agricultural tyres fell slightly, as 344,000 tyres were sold, against 368,000 in the same period for 2021, which constituted a 7% fall.
Secretary-General of the European Tyre and Rubber Manufacturers’ Association, Mrs Cinaralp, added a comment on the current situation in Europe, “We need to be realistic and presume that raw material and energy supply tensions coming from the current situation are likely to affect sales volumes in the coming months.”
Indeed, the ETRMA confirmed that the pace of growth reduced in March when the Russia-Ukraine conflict started. “We all hope that in the weeks to come, we will assist in a conflict resolution to stop the war and re-establish the peace”, concluded Mrs Cinaralp.