THE US tyre industry continues to face setbacks with a strained economy, says the Rubber Manufacturers Association (RMA), slightly scaling down its earlier shipment projections for 2012.
Its initial previous year estimate was pegged to increase by 2% but was later downgraded to a 1.2% increase by mid-year.
Tyre shipments for 2012 were flat, and have remained unchanged at 284 million units, with increases in OE shipments offset by sharp decreases in replacement shipments.
Nonetheless, the association has forecast a 2% shipment increase for the coming year, pushed by “an increase in vehicle miles traveled and anticipated economic growth.”
Demand for new vehicles is expected to increase in 2013, with close to 4% growth. Sales in light vehicles are likely to hit more than 15 million.
Total replacement tyre shipments in 2013 will likely increase by more than 3 million units from 234 million in 2012 as growth in the Gross Domestic Product and the Industrial Production Index for both the consumer and commercial sectors is projected, says RMA
Shipments of other vehicle tyres, including truck tyres are also projected to increase this year.(RJA)
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