In 2008, North American tire manufacturers had the capacity to produce 352.7 million tires annually. Five years later, that number was down to 306.3 million tires annually, a 13.1% drop.
Plant capacity in the U.S. mirrored that drop. Part of the problem was the inability of domestic manufacturers to compete against low-cost imports. The result? Plant closings, four from 2008-2011, 10 since 2000.
But the turnaround began in 2009. In 2017, tire manufacturers -- and there are more of them since 2008 -- have the capacity to produce 324.5 million tires a year.
(That's capacity, not actual production. As a rule of thumb, production is 87% of capacity, says MTD Editor Bob Ulrich.)
Modern Tire Dealer breaks down plant capacity in North America in its 2017 January Facts Issue. It is not only up 4.6% from 2016 (in the U.S., it was up 5%), but also expected to keep rising. By 2023, an additional 22.3 million tires will be produced in North America.
To find out who is adding capacity and where, check out our January Facts Issue. Who is the largest tire manufacturer in terms of capacity? Is it Bridgestone Americas Inc.? Goodyear Tire & Rubber Co.? Michelin North America Inc.? The answer is on pages 42-43 of the issue.
Every year, the Modern Tire Dealer Facts Issue is the first publication with in-depth performance reports on the tire industry from the previous year. For more information on the tire industry in 2016, check out the digital edition of the issue, which is already on our website, www.moderntiredealer.com. You also can visit these links: