2016 Forecast: A Record-Breaking Year for Replacement Passenger Shipments
Total U.S. tire shipments are projected to surpass 315 million units in 2016, according to the latest forecast by the Rubber Manufacturers Association (RMA).
The RMA forecasts replacement passenger tire shipments will exceed the previous record set in 2014.
Here are three reasons behind the RMA's projections:
- Steady economic improvement,
- low fuel prices, and
- increases in vehicle miles traveled.
The RMA says those three factors "should create favorable conditions for growth in total U.S. tire shipments."
Original equipment passenger and light truck tires are expected to see the largest percentage increase in shipments, while modest growth is anticipated for replacement passenger, light truck, and truck tire shipments.
While 2016 commercial truck OE shipments are expected to decrease, 2015 shipments in this category were the highest since 2006.
|2015 Final||2016 Forecast||% Change||Unit Change|
All shipments are in millions. Figures are rounded.