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Thursday, July 7, 2022

Sales rise steadies EU tire markets in first half

BRUSSELS—Sales of tires in the European Union in June were boosted by a 14.6 percent year-on-year rise in demand for new passenger cars, the European Tyre and Rubber Manufacturers Association said.

In its latest market update, ETRMA said the market was further supported higher demand for OE demand for consumer and truck tires—up 12 percent and 21 percent, respectively, compared to June 2014.

Replacement demand for June was also high—car summer tires increased 18 percent, and truck tires increased 7 percent.

The June data firmed up the performance of the European Union tire market over the first half of 2015: both OE and replacement tire markets have remained stable, both on consumer and truck tires.

However, an exception to the positive trends was in agricultural segment, where ETRMA observed “a significant down trend, which is in contrast with the growing imports from China and India.”

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