USTMA July Tire Forecast Shows U.S. Tire Shipments Expected to Decrease in 2020
August 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.
USTMA 2020 Projected Tire Shipments (July Forecast)
| 2019 | 2020 Forecast | % Change | Units +/(-) | |
|---|---|---|---|---|
| Original Equipment Tires | ||||
| Passenger | 46.3 | 34.9 | -24.5 | -11.3 |
| Light Truck | 5.9 | 4.6 | -21.0 | -1.2 |
| Truck | 6.5 | 4.4 | -32.6 | -2.1 |
| Replacement Tires | ||||
| Passenger | 222.6 | 188.7 | -15.2 | -33.9 |
| Light Truck | 32.5 | 28.7 | -11.8 | -3.8 |
| Truck | 18.9 | 18.0 | -5.0 | -0.9 |
| Total Shipments | 332.7 | 279.4 | -16.0 | -53.3 |
Note: All shipments in millions. Figures are rounded.