BRUSSELS—Inflation. Rising energy costs. War in Ukraine. All are weighing heavy on the European tire market.
In fact, there isn't a whole lot of good news coming out of the first quarter, according to the European Tyre and Rubber Manufacturers Association, at least when it comes to replacement tires. The association last week released its members' Q1 2023 replacement tire sales figures.
Overall, the first-quarter replacement consumer tire demand fell 12 percent year-over-over to 54.6 million units. Summer tire demand, the association said, was down 13 percent, while winter tire demand slipped by 26 percent.
All-season tire demand remained relatively flat year-over-year, showing a 1-percent improvement in 2023.