USTMA JULY 2024 FORECAST PREDICTS HIGHER 2024 TIRE SHIPMENTS FOR U.S. TIRE MARKET
August 8, 2024
WASHINGTON, August 8, 2024 - The U.S. Tire Manufacturers Association (USTMA) projects total U.S. tire shipments of 337.4 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 0.0%, 5.5%, and -5.0% respectively, with the total units roughly same as 2023. Replacement passenger, light truck and truck tire shipments are also projected to change by 0.9%, 4.7%, and 8.9% respectively, with a total increase of 5.4 million units.
| 2024 |
| % | Units |
| % | Units | ||
Forecast | 2023 | Vs 2023 | Vs 2023 |
|
|
| |||
| Original Equipment | |||||||||
| Passenger | 45.7 | 45.7 | 0.0% | 0.0 | 46.3 | -1.3% | -0.6 | ||
| Light Truck | 6.2 | 5.9 | 5.5% | 0.3 | 5.9 | 5.3% | 0.3 | ||
| Truck | 5.9 | 6.2 | -5.0% | -0.3 | 6.5 | -9.4% | -0.6 | ||
| Replacement | |||||||||
| Passenger | 221.2 | 219.2 | 0.9% | 2.0 | 222.6 | -0.6% | -1.4 | ||
| Light Truck | 35.9 | 34.3 | 4.7% | 1.6 | 32.5 | 10.2% | 3.3 | ||
| Truck | 22.6 | 20.8 | 8.9% | 1.8 | 18.9 | 19.5% | 3.7 | ||
| Total Shipments | 337.4 | 331.9 | 1.6% | 5.4 | 332.7 | 1.4% | 4.7 | ||
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 at www.ustires.org
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