USTMA FEBRUARY 2024 FORECAST PREDICTS HIGHER 2024 TIRE SHIPMENTS FOR U.S. TIRE MARKET
February 2024 Forecast
Contact: Kim Kleine
(202) 682-4856
kkleine@ustires.org
USTMA February 2024 Forecast predicts higher 2024 tire shipments for U.S. tire market
WASHINGTON, March 5, 2024 - The U.S. Tire Manufacturers Association (USTMA) projects total U.S. tire shipments of 335.7 million units in 2024, compared to 331.9 million units in 2023 and 332.7 million units in 2019. This surpasses the previous record of 335.2 million units in 2021.
Compared with 2023, Original Equipment (OE) shipments for passenger, light truck and truck tires are expected to change by 1.4%, 2.6%, and -3.3% respectively, with a total increase of 0.6 million units. Replacement passenger, light truck and truck tire shipments are also projected to change by 0.5%, 2.8%, and 5.9% respectively, with a total increase of 3.2 million units.
|
|
2024 |
|
% |
Units |
|
% |
Units |
|
|
Forecast |
2023 |
Vs 2023 |
Vs 2023 |
2019 |
Vs 2019 |
Vs 2019 |
|
Original Equipment |
|||||||
|
Passenger |
46.3 |
45.7 |
1.4% |
0.6 |
46.3 |
0.1% |
0.0 |
|
Light Truck |
6.0 |
5.9 |
2.6% |
0.2 |
5.9 |
2.4% |
0.1 |
|
Truck |
6.0 |
6.2 |
-3.3% |
-0.2 |
6.5 |
-7.7% |
-0.5 |
|
Replacement |
|
|
|
|
|
|
|
|
Passenger |
220.2 |
219.2 |
0.5% |
1.0 |
222.6 |
-1.1% |
-2.4 |
|
Light Truck |
35.2 |
34.3 |
2.8% |
1.0 |
32.5 |
8.2% |
2.7 |
|
Truck |
22.0 |
20.8 |
5.9% |
1.2 |
18.9 |
16.2% |
3.1 |
|
|
|
|
|
|
|
|
|
|
Total Shipments |
335.7 |
331.9 |
1.1% |
3.7 |
332.7 |
0.9% |
3.0 |
Note: All shipments in millions. Figures are rounded.
Detailed 2023 data can be found in the USTMA’s annual Factbook, which can be purchased from the Publications section www.ustires.org.
# # #
The U.S. Tire Manufacturers Association is the national trade association for tire manufacturers that produce tires in the U.S. Our 12 member companies operate 57 tire-related manufacturing facilities in 17 states. U.S. tire manufacturing has an annual economic footprint of $170.6 billion and is responsible for more than 291,000 U.S. jobs in manufacturing, distribution and retailing. The industry supports more than 510,000 additional U.S. jobs in supplier and induced activities, totaling more than 801,000 jobs nationwide. USTMA advances a sustainable tire manufacturing industry through thought leadership and a commitment to science based public policy advocacy. Our member company tires make mobility possible. USTMA members are committed to continuous improvement of the performance of our products, worker and consumer safety and environmental stewardship. For more information, visit www.USTires.org and follow us on Twitter @USTires.
