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U.S. Tire Shipments To Drop by 17.8% Due to COVID-19

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U.S. Tire Shipments To Drop by 17.8% Due to COVID-19

In an updated forecast of U.S. tire shipments, the U.S. Tire Manufacturers Association (USTMA) shows steep, double-digit decreases for nearly every category. The replacement tire market is expected to fare better than the original equipment market.

The USTMA says it revised its 2020 U.S. tire shipment projections to better reflect the impact of the COVID-19 pandemic on the tire manufacturing sector. 

  2019 Revised 2020 Forecast % Change Units Change
OE 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

Shipments are in millions. Figures are rounded. 

The USTMA typically provides shipment projections three times a year. The association says these numbers are an "update" to the figures released in March, before the coronavirus forced a national economic downturn and shuttered most U.S. tire plants. The figures next will be updated in July.

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