BRUSSELS—Unpredictability defined 2022 and it turned out to be the biggest factor weighing on tire sales across Europe, especially in the agricultural space.
The latest figures from the European Tyre and Rubber Manufacturers' Association show sharp declines in replacement ag tire sales. The segment saw negative figures throughout the year and ended 2022 with a 22 percent compared to the previous 12 months.
Replacement consumer tire sales, meanwhile, started 2022 on a high note, recording a 7.4 percent increase in the first half of 2022 when compared to the same period a year earlier. Truck tires, meanwhile, posted a 10.3 percent increase over the corresponding period of 2021.
That changed, though, when the impact of Russia's war in Ukraine began to take hold. And those factors helped to create a challenging second half. The consumer tire segment finished 2022 down 2 percent from 2021, after dropping by more than 10 percent in the second half of the year when compared to the prior year period.
Replacement truck/bus tire sales remained steady for the year (up 1 percent) in spite of the sharp 8.2 percent decline in the second half.
"Last year was characterized by two contrasting half-year results for European tire manufacturers," Adam McCarthy, ETRMA's Secretary General, said in a statement. "… There is no doubt the war in Ukraine, and the subsequent increase in energy prices and higher cost of living, have impacted the industry's replacement tire sales in 2022."
Still, there's good news, thanks to the OE segment.
The European tire industry ended 2022 with an increase in both consumer tire sales (3.4 percent) and truck/bus tire sales (4.7 percent) on the OE side. Overall, truck/bus tire sales were up 6.8 over 2019, but OE consumer tires remain well below pre-COVID-19 levels (-26 percent).
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