The seemingly never ending stream of economic reports into the UK tyres market reveals that motorists are trading down from main brands such as Michelin, Pirelli and Bridgestone onto mid-range and budget brands. The latest study, by leading market research agency GfK NOP also indicates a trend towards H speed rated tyres at the expense of faster, V rated ones.
The GfK NOP “World of Tyres” report does not appear to make any comment about this latter trend but industry professionals support the etyres view that this is certainly false economy. Tyres of the correct speed rating should always be fitted.
The report goes on to state that the average price of a budget tyre is £40 compared with between £90 and £105 for premium brands. This relates to etyres own sales records which show an average tyre price for a premium brand car tyre is some 40% cheaper at £65. This supports the earlier Which? conclusion that on-line retailers of car tyres, such as etyres, are considerably cheaper than traditional tyre depots.
The GfK NOP analysis indicates that tyre depot sales in the 17 weeks to September fell by almost 10% as the economy slowed and the UK entered recession. Clearly some of this decrease was caused by lower mileage and reduced driving speed but also the trend to on-line buying of tyres appears to have had an effect as shrewd motorists looked to the Internet for savings.