BRUSSELS—The European tire industry suffered precipitous drops in replacement market shipments in the quarter ending June 30, prompting the European Tyre & Rubber Manufacturers' Association to issue a "bleak" outlook for the full year with double-digit drops in shipments expected.
The ETRMA said the second-quarter results—replacement consumer and commercial tire shipments down 31.3 percent and 23.3 percent, respectively, versus 2019—are the worst quarterly results the Brussels-based trade group has ever reported.
"The tire sector's full recovery is still far away. For the moment, we can only hope for the market to stabilize in the second half of the year," ETRMA Secretary General Fazilet Cinaralp said, citing the deep impact the COVID-19 pandemic has had on Europe's economy.
Shipments of all tire types have fallen in both the second quarter and the first half of the year, with only agricultural tires not suffering double-digit declines.
The sales decline began in the first quarter, the ERTMA said, when the pandemic forced lockdowns across Europe. As expected, the full effect became all the more evident in the second quarter.
Replacement passenger tire sales in the second quarter fell 31.3 percent to 35 million units, the ETRMA said, pushing first-half shipments down 21.7 percent to 83 million tires.
Replacement market shipments of truck and bus tires fell 23.3 percent to 2.27 million units in the second quarter and 14.4 percent to 5.1 million units for the first six months.