Market trends

In Replacement, the monthly market is broadly at its June 2023 level, underpinned in particular by demand in Europe. In North America, demand is down on June 2023, but this does not indicate a slowdown in market momentum. In China, demand remains down, but on a high basis of comparison due to the strong recovery in spring 2023 following the lifting of sanitary restrictions. On a cumulative basis, overall demand is up 4%.

In Replacement, the global market (excluding China) was stable over the month. Demand growth remained strong in North America, albeit at a much slower pace than in previous months, driven by Asian tire imports in anticipation of the increase in customs duties that should take effect in September. In Europe, the market was slightly down compared to June 2023, mainly due to the sharp drop in Turkey. In South America, demand remains positive thanks to increased industrial production in Brazil. Overall, the global market (excluding China) grew by 4%, still marked by the very strong impact of Asian tire imports in North America.