The U.S. Tire Manufacturers Association (USTMA) has adjusted its February 2020 U.S. tire shipment projections due to the economic impact on the tire manufacturing sector of the COVID-19 Pandemic.
This update is being shared in advance of the triannual forecast customarily conducted in July.
The USTMA now projects 2020 U.S. tire shipments will decrease to 273.6 million units compared to 332.7 million units in 2019. Original equipment (OE) passenger tire shipments are expected to decrease by 24.3%, while passenger tire replacement shipments are projected to decrease by 17.2% compared to 2019. Original equipment and replacement shipments for light truck and truck tire are all expected to decrease, with truck tire replacement shipment showing the smallest decline at 7.3% compared to 2019.