Pirelli is ready for the North American market because the North American market is ready for Pirelli.
The company's expertise—rooted in OE fitments and fitments for luxury and high-performance models—is perfect for the automotive market taking shape across the continent.
"We also see the prestige segment is almost like a protected species," Coke said. "That, despite the economic climate, COVID—you name it—the prestige segment continues to grow and remain healthy. We are very glad about that, and we wish to grow in that area."
Turns out, that segment is right in Pirelli's wheelhouse.
And when it comes to consumer demand for larger tires—both OE and replacement—Pirelli is ready for that as well.
"Our growth has been, again, based on our business model, which is high-value-added tires, so 18-inch and above, that is where the market is going," Coke said. "SUVs, CUVs are outstripping passenger cars."
Yes, when it comes to their vehicles, Americans certainly have a type. And it's not the sedan.
According to the National Automobile Dealers Association, light trucks accounted for nearly 80 percent of new vehicles sold in 2022. And when it came to light vehicles, crossovers proved to be the dominant segment, making up 45.2 percent of new vehicle sales.
So, Americans like bigger cars. Fancier cars.
And it turns out that's not just a North American phenomenon. It's a global one.
According to Casaluci, global car tire demand in 2022 decreased by 1.7 percent year-on-year, but demand for 18-inch and larger rim diameter tires grew by 5.4 percent.
So when it comes to North American tire offerings, specifically, the Italian tire maker is targeting performance Americans want for the cars Americans drive. Last year, Pirelli introduced its first all-weather tire—WeatherActive—and expanded its expertise in designing tires for electric vehicles.