NEW YORK—Light truck tires had 3.5 percent unit growth in 2018 over 2017, according to point-of-sale data gathered by data research firm GfK.
LT rims larger than 20 inches in diameter grew 17 percent by sales dollars and 20 percent by units last year, according to full-year data GfK gathered from nearly 35,000 points of sale across the U.S., the company said in a March 12 news release.
"While the U.S. tire retail market still faces challenges, GfK POS data from outlets nationwide points to important opportunities in a few key segments of the marketplace," GfK said.
The LT segment also showed gains in units and dollars for 17-, 18- and 20-inch tires, but 16-inch tire sales fell sharply, according to GfK.
The 2018 gains followed a 3.1 percent decrease in the LT market in 2017, the company said. They represent the broader industry trend toward larger rim sizes in both the LT and passenger tire market.
"In addition, GfK's data shows that some tires rated for higher speeds—and commanding higher prices—are also enjoying unexpected unit surges," GFK said.