By Denna Bowman
A recent study by a leading tyres manufacturer shows a mixed outlook for the industry.
Global demand for original equipment tyres remained weak in July, according to latest figures released by Michelin.
However, the research carried out for the French tyres manufacturer shows that there are signs of recovery in most replacement segments.
The European truck replacement market shows some of the least improved figures and analysts described the status quo as “very poor.” The July sales figures in this area were -17 per cent down (-29 per cent year-to-date).
In both Europe, across both the passenger car tyre and truck segments OE tyre sales remained down by between 25 and 50 per cent.
European passenger car OE tyre sales were down approximately 25 per cent in July (-40 per cent year-to-date), while truck tyre OE figures were almost twice as bad with OE tyre sales down 50 per cent in July and -60 per cent year-to-date.