Market trends

Last update : September 19, 2024

In Original equipment, demand in August was in line with previous months, with a sharp fall in Europe and, to a lesser extent, North America, due to a significant slowdown in automaker activity. In China, the market contracted over the month, mainly due to persistent weakness in domestic demand. On a cumulative basis, global demand is down 3% on 2023.

In Original equipment, August was a continuation of previous months, with a very significant decline in Europe and North America. The rebound in South America continued, as the year 2023 was marked by a significant downturn in automaker activity due to the anti-pollution regulations that came into force at the beginning of 2023.

In Replacement, the global market (excluding China) grew by 3% over the month. Demand growth seems to be normalizing in North America, after a first half driven by imports from Asia due to the increase in customs duties due to take effect in the coming weeks. In Europe, the overall market is slightly down, penalized by Turkey. In South America, demand remained positive in line with previous months, still pulled by buoyant economic activity in Brazil. In YTD, the global market (excluding China) is still up 4%.

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.