USTMA NOVEMBER 2023 FORECAST PREDICTS LOWER 2023 TIRE SHIPMENTS FOR U.S. TIRE MARKET
USTMA November 2023 Forecast predicts LOWER 2023 tire shipments for U.S. tire market
WASHINGTON, December 5, 2023 - The U.S. Tire Manufacturers Association (USTMA) projects total U.S. tire shipments of 327.7 million units in 2023, compared to 332.0 million units in 2022 and 332.7 million units in 2019.
Compared with 2022, Original Equipment (OE) shipments for passenger, light truck and truck tires are expected to change by 7.9%, -4.0%, and -1.3% respectively, with a total increase of 3.0 million units. Replacement passenger, light truck and truck tire shipments are also projected to change by 0.2%, -5.6%, and -21.3% respectively, with a total decrease of 7.3 million units.
|
|
2023 |
|
% |
Units |
|
% |
Units |
|
|
Forecast |
2022 |
Vs 2022 |
Vs 2022 |
2019 |
Vs 2019 |
Vs 2019 |
|
Original Equipment |
|||||||
|
Passenger |
44.9 |
41.6 |
7.9% |
3.3 |
46.3 |
-2.9% |
-1.3 |
|
Light Truck |
6.0 |
6.3 |
-4.0% |
-0.2 |
5.9 |
2.6% |
0.2 |
|
Truck |
6.4 |
6.5 |
-1.3% |
-0.1 |
6.5 |
-1.8% |
-0.1 |
|
Replacement |
|||||||
|
Passenger |
214.2 |
213.7 |
0.2% |
0.5 |
222.6 |
-3.8% |
-8.4 |
|
Light Truck |
35.2 |
37.2 |
-5.6% |
-2.1 |
32.5 |
8.1% |
2.6 |
|
Truck |
21.0 |
26.6 |
-21.3% |
-5.7 |
18.9 |
10.7% |
2.0 |
|
Total Shipments |
327.7 |
332.0 |
-1.3% |
-4.3 |
332.7 |
-1.5% |
-5.0 |
Note: All shipments in millions. Figures are rounded.
Detailed 2022 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.
