2016 U.S. Tire Shipments Projected to Rise
March 9, 2016
Industry Forecasts Record High for Passenger Replacement Shipments
Total U.S. tire shipments are projected to surpass 315 million units in 2016, according to the latest forecast by the U.S. Tire Manufacturers Association (USTMA), the national trade association for tire manufacturers in the U.S. USTMA forecasts passenger replacement tire shipments to exceed the previous record set in 2014.
Steady economic improvement, low fuel prices and increases in vehicle miles traveled this year should create favorable conditions for growth in total U.S. tire shipments.
Original equipment passenger and light truck tires are expected to see the largest percentage increase in shipments while modest growth is anticipated for replacement passenger, light truck and truck tire shipments. While 2016 commercial truck original equipment shipments are expected to decrease, last year’s shipments in this category were the highest since 2006.
| 2015 Final | 2016 Forecast | % Change | Units +/(-) | |
|---|---|---|---|---|
| Original Equipment Tires | ||||
| Passenger | 49.7 | 51.1 | 2.7 | 1.4 |
| Light Truck | 4.4 | 4.5 | 1.8 | 0.1 |
| Truck | 6.2 | 6.0 | -2.9 | -0.2 |
| Replacement Tires | ||||
| Passenger | 206.1 | 206.8 | 0.3 | 0.7 |
| Light Truck | 29.1 | 29.2 | 0.3 | 0.1 |
| Truck | 17.9 | 18.1 | 1.1 | 0.2 |
| Total Shipments | 313.5 | 315.7 | 0.7 | 2.2 |
Note: All shipments in millions. Figures are rounded.