1.5 Percent Rebound Anticipated In 2013
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WASHINGTON, D.C., April 3, 2013 – Tire shipments remained unchanged in 2012 at 284 million total units, according to the Rubber Manufacturers Association (RMA) as a 10 percent increase in OE shipments offset a nearly 2 percent decrease in replacement shipments.
The absence of overall growth can primarily be attributed to a cautious consumer as well as economic uncertainties in both the commercial and consumer sectors of the replacement market.
Nonetheless, there are several positive signs including, a declining unemployment rate, a rebound in housing, and increases in vehicle sales and vehicle miles traveled. These and other macroeconomic factors should result in approximately 288 million total tire shipments in 2013, an increase of approximately 4 million units or nearly 1.5 percent.
Original equipment (OE) tire shipments for both the light vehicle and commercial truck sectors increased 10 percent for 2012 due to increased demand for light vehicles and commercial trucks. A nearly 6 percent growth is forecast for 2013 as new vehicle demand is expected to increase light vehicle sales to more than 15 million.
Replacement tire shipments declined in 2012 to approximately 235 million total units – a nearly 5 million unit decrease, or about 2 percent decline. For 2013, a modest increase of 1 million units is anticipated as small growth is expected in the Gross Domestic Product and the Industrial Production Index for both the consumer and commercial sectors.
RMA’s Tire Market Analysis Committee report for key categories and their respective segments for 2012 and its forecast for 2013 include:
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The Rubber Manufacturers Association is the national trade association for tire manufacturers that make tires in the U.S.
RMA’s Tire Market Analysis Committee is comprised of tire market professionals representing the major U.S. tire manufacturers, which account for more than 90 percent of all U.S. tire shipments. Their analyses and forecasts of current and future industry activity include a review of RMA tire industry and economic data, government trade figures, and vehicle sales and production. TMAC develops its consensus view for tire demand from this process. The views expressed in this release are not the sole opinion of any one committee member, member company, or RMA representative.