USTMA November Forecast: U.S. 2020 Tire Shipment Outlook Improves From July Projection
December 1, 2020
The U.S. Tire Manufacturers Association (USTMA) projects U.S. tire shipments will total 298.3 million units by the end of 2020, compared to 332.7 million units in 2019. This forecast represents a significant improvement of nearly 19 million units from the 2020 volume USTMA forecasted in July, reflecting industry resilience in the face of unprecedented challenges posed by the COVID-19 pandemic.
Compared to 2019, Original Equipment (OE) shipments for passenger, light truck and truck tires are expected to decrease by 20.4%, 18.0% and 29.0% respectively, with a total reduction of 12.4 million units. Replacement passenger and light truck tire shipments are projected to decrease by 9.5% and 1.8% respectively, with truck tire replacement shipments showing a modest decline at 2.1%. The total unit reduction for replacement tires is projected to be 22.0 million units.
USTMA 2020 Projected Tire Shipments (November Forecast)
| 2019 | 2020 Forecast | % Change | Units +/(-) | |
|---|---|---|---|---|
| Original Equipment Tires | ||||
| Passenger | 46.3 | 36.8 | -20.4 | -9.5 |
| Light Truck | 5.9 | 4.8 | -18.0 | -1.1 |
| Truck | 6.5 | 4.6 | -29.0 | -1.9 |
| Replacement Tires | ||||
| Passenger | 222.6 | 201.5 | -9.5 | -21.0 |
| Light Truck | 32.5 | 32.0 | -1.8 | -0.6 |
| Truck | 18.9 | 18.5 | -2.1 | -0.4 |
| Total Shipments | 332.7 | 298.3 | -10.3 | -34.4 |
Note: All shipments in millions. Figures are rounded.