In particular, Pirelli said deliveries of higher value-added larger rim-diameter tires (18 inches and larger) were up nearly 8 percent last year, while sales of lower rim-diameter tires fell by over 9 percent.
The company said it picked up 300 new homologations with vehicle makers, roughly 40 percent of which were for premium electric vehicles.
Pirelli did not at this time disclose its performance by region. At the three-quarter mark of fiscal 2022, Pirelli's figures showed sales in North America were up 21 percent over 2021, putting the company's sales in North America at roughly $1.6 billion for the year.
Last year Pirelli disclosed a $113 million, two-year investment commitment for its Silao, Mexico, factory primarily to boost capacity for larger-rim diameter tires and tires for electric vehicles that will be sold in the U.S.
For 2023, Pirelli is projecting sales will be flat to up 1 percent compared with 2022, with an improved price/mix providing most of the growth. The operating ratio likely will decline slightly, Pirelli said, to 14 percent to 14.5 percent.
In formulating its forecast for 2023, Pirelli said it took into account a general slowing of economic growth weighed down by geopolitical tensions and persisting inflation of production factors (raw materials, energy, and logistics).
Global GDP is expected to grow by 2 percent with more limited growth in the U.S.—0.7 percent versus 2.1 percent in 2022—and Europe while expectations are more positive for China where GDP should grow by 5.2 percent.
Pirelli Tire North America raised prices Jan. 15 on passenger and light truck tires sold in the U.S. by as much as 10 percent, depending on line and tire size. That marked the tire maker's fourth price increase since the beginning of 2022.
