The latest market data compiled by Michelin Group shows that the truck tire segment is as strong as ever and so far the replacement market is keeping pace with the significant growth recorded a year ago.
The latest market data compiled by Michelin Group shows that the truck tire segment is as strong as ever and so far the replacement market is keeping pace with the significant growth recorded a year ago.
Through the end of July, Michelin’s market estimates show the replacement market in North and Central America is flat compared to the same time a year ago. But that’s also as demand for OE truck tires has been rebounding steadily. In July 2022, OE demand was up 7%, Michelin says.
For the three prior months, Michelin says OE demand was up double digits: up 21% in April; up 16% in May, and up 11% in June.
According to MTD’s January Facts Issue, 2021 replacement medium truck tire shipments totaled 22.7 million units. In August, the U.S. Tire Manufacturers Association predicted that number will grow to 24.3 million replacement units in 2022.
Joy Kopcha joined Modern Tire Dealer and Auto Service Professional as senior editor in 2014 after working as a newspaper reporter for a dozen years in Kansas, Indiana and Pennsylvania. She was named managing editor of MTD and ASP in 2022, and took on that same role with Motor Age in 2024.
She is an award-winning journalist, including in 2023 when she was named a Jesse H. Neal Awards Finalist.
