The Huge Tire Market Is Seeing A Decline In Sales Across The Entire Line!
Recently, the European Tire and Rubber Manufacturers Association released its statistical report for the second quarter of 2023.
Data shows that the sales volume of replacement tires in the European market was 49.54 million, a year-on-year decrease of 12%.
The sales of summer and winter tires decreased by 9% and 33% respectively compared to the same period last year.
Truck, bus, and agricultural tires decreased by 28% and 34% respectively compared to the same period last year.
The association stated in its report that all tire segments have shown negative development.
Inflation drives up costs and the economic environment suppresses consumer demand, which are the main reasons for the sluggish sales.
The European Tire and Rubber Manufacturers Association stated that compared to the recovery situation in the same period last year, the situation in the European tire market this year is not optimistic.
It predicts that the sales volume of replacement tires in the European market in 2023 will be even lower than in 2022.
In the context of economic recession, tires, as an unnecessary daily commodity, are often placed at a low level of consumption by the public.
