Market trends Publication of tire market data Imprimer Last update: September 19, 2023 Download data Download the Passenger car, Light truck, Truck & Bus data. Passenger car, Light truck, Truck & Bus – 2023 August market 09/19/2023 | XLSX - 24.45 Ko Passenger car & light truck In Original Equipment, the rebound momentum continues, although penalized in August by a comparison basis more unfavorable than on the previous months, notably in China where activity had recovered strongly in summer 2022. In North America, the market is down in August on high comparisons, with the inventory rebuilding by OEMs coming to an end. In Europe, demand stays positively oriented on the month. In Replacement, sell-in demand in Europe remains penalized by weak winter tire sales and destocking still going on in Distribution. In North America, demand keeps a favorable dynamic, in progress compared to previous months on the back of a resilient economic context and miles driven that are still up. In China, on still favorable comparisons, demand shows again a double digit growth on the month, keeping the trend already observed in June and July. August 2023 / 2022 ¹Turkey included and Eastern Europe included YTD (August 2023) ¹Turkey included and Eastern Europe included Truck & Bus In Original Equipment, demand in Europe and North America is still well oriented, with full order books through to the end of 2023, on a more favorable basis of comparison in Europe than in North America. In South America, the sharp decline is due to the introduction of a new anti-pollution standard on January 1, 2023 leading to anticipated orders in 2022. In Replacement, the downward adjustment of distributor and fleet inventories is continuing in Europe and North America, on a backdrop of persistent economic uncertainties. In South America, the decline of the demand is linked to an exceptionnally high month of August 2022 that had been pulled by the inflow of imported tires following to the decongestion of supply chains. August 2023 / 2022 ¹Turkey included and Eastern Europe included YTD (August 2023) ¹Turkey included and Eastern Europe included Methodological note Tire market estimates reflect sell-in data published by local tiremaker associations, plus Michelin’s own estimates of sales by tire manufacturers that do not belong to any association. These estimates are based primarily on import-export statistics and are expressed in the number of tires sold. They are regularly adjusted and may be updated following their initial publication. Financial key figures Read more Financing Read more
