By Denna Bowman
Global replacement tyres shipments were up in October compared to a year ago, according to a leading industry analyst.
Saul Ludwig, a managing director with KeyBanc Capital Markets, reported that positive comparative volume in October “clearly shows an improving trend” in the sale of tyres.
His analysis, which appears in his latest “Quick Alert” report, is based on information published by Michelin.
In North America, Europe and China, replacement consumer tyres were up 7%, 6% and 11%, respectively, in October versus October 2008. “This is good for both Goodyear and Cooper Tyre,” Ludwig wrote.
Medium truck tyre shipments were up 17% in Brazil, 13% in Japan and 12% in China, which offset a 3% decrease in North America. There was no change in Europe.
In contrast replacement consumer tyre shipments for the first nine months of 2009 were down in Europe (by 10%) and North America (6%) compared to the first nine months of 2008. In China, shipments were up 14%.
Replacement medium truck tyre shipments were down across the board for the first nine months compared to last year.
Ludwig concluded: “In the truck segment, replacement comps are improving in all areas of the world. This is especially important and better news for Goodyear.”