USTMA JULY TIRE FORECAST SHOWS U.S. TIRE SHIPMENTS EXPECTED TO DECREASE IN 2020
WASHINGTON, Aug. 3, 2020—As the U.S. economic downturn continues during the COVID-19 pandemic, the U.S. Tire Manufacturers Association (USTMA) projects 2020 U.S. tire shipments will decrease to 279.4 million units in 2020 compared to 332.7 million units in 2019. This forecast represents a small improvement of 5.8 million units from USTMA’s April 2020 forecast adjustment, which was the first preliminary estimate after the declaration of the COVID-19 pandemic.
Compared to 2019, Original Equipment (OE) shipments for passenger, light truck and truck tires are expected to decrease by 24.5%, 21.0% and 32.6% respectively, with a total reduction of 14.7 million units. Replacement passenger and light truck tire shipments are projected to decrease by 15.2% and 11.8% respectively, with truck tire replacement shipments showing the smallest decline at 5.0%. The total unit reduction for replacement tires is projected to be 38.7 million units.
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2019 |
2020 Forecast |
% Change |
Units +/(-) |
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Original Equipment Tires |
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Passenger |
46.3 |
34.9 |
-24.5 |
-11.3 |
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Light Truck |
5.9 |
4.6 |
-21.0 |
-1.2 |
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Truck |
6.5 |
4.4 |
-32.6 |
-2.1 |
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Replacement Tires |
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Passenger |
222.6 |
188.7 |
-15.2 |
-33.9 |
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Light Truck |
32.5 |
28.7 |
-11.8 |
-3.8 |
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Truck |
18.9 |
18.0 |
-5.0 |
-0.9 |
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Total Shipments |
332.7 |
279.4 |
-16.0 |
-53.3 |
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Note: All shipments in millions. Figures are rounded. |
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