USTMA Provides Adjusted 2020 Tire Shipment Forecast Amid COVID-19 Pandemic
April 24, 2020
In response to the widespread economic crisis caused by the COVID-19 pandemic, the U.S. Tire Manufacturers Association (USTMA) has revised its February 2020 U.S. tire shipment projections to better reflect the impact of the pandemic on the tire manufacturing sector. This update is being shared in advance of the triannual forecast customarily conducted in July.
The USTMA now projects 2020 U.S. tire shipments will decrease to 273.6 million units compared to 332.7 million units in 2019. Original equipment (OE) passenger tire shipments are expected to decrease by 24.3%, while passenger tire replacement shipments are projected to decrease by 17.2% compared to 2019. Original equipment and replacement shipments for light truck and truck tire are all expected to decrease, with truck tire replacement shipment showing the smallest decline at 7.3% compared to 2019.
USTMA 2020 Projected Tire Shipments (April Revision)
| 2019 | 2020 Forecast | % Change | Units +/(-) | |
|---|---|---|---|---|
| Original Equipment Tires | ||||
| Passenger | 46.3 | 35.0 | -24.3 | -11.2 |
| Light Truck | 5.9 | 4.8 | -18.4 | -1.1 |
| Truck | 6.5 | 4.5 | -30.7 | -2.0 |
| Replacement Tires | ||||
| Passenger | 222.6 | 184.4 | -17.2 | -38.2 |
| Light Truck | 32.5 | 27.3 | -16.0 | -5.2 |
| Truck | 18.9 | 17.6 | -7.3 | -1.4 |
| Total Shipments | 332.7 | 273.6 | -17.8 | -59.1 |
Note: All shipments in millions. Figures are rounded.