THE EUROPEAN original equipment (OE) tyre market grew by 4% in July, while emerging markets are still growing fast, according to data released by Group Michelin.
The data also reveals positive figures for the European and North American passenger car and light truck tyre markets were in line with second-quarter trends; and the North American OE market showing 1% growth in July.
China’s OE tyres grew 10%, while the replacement market increased 11%. In Brazil, the replacement market grew 16%, and the OE market increased by 3% percent.
For the year-to-date, Michelin says that Europe is still shows negative figures for both OE (-2% percent) and replacement tyres, with -2% and -1%, respectively. North America grew for the first seven months of the year in both OE and the replacement tyres market, up 4% and 1%, respectively.
Meanwhile, both China and Brazil showed increased figures of 12% for the OE markets in the year-to-date; the replacement market grows by 9% percent and 13 percent, respectively.