An analysis by the NPD Group shows consumer replacement tire prices increased 13% in 2021, and despite the increase, more expensive tires were more popular with buyers than before the pandemic.
According to the results of our survey, demand for passenger and light truck replacement tires improved in August. The latest performance marks the fourth consecutive month of healthier, albeit far from strong, trends after a very challenging start to the year. Anecdotal commentary from dealers indicates that demand was fairly steady throughout the month.
According to the results of our survey, demand for replacement tires was slightly better than flat in July despite greater-than-normal volatility in the sample of responses. Indeed, from a volume standpoint the dealers reported they sold marginally more tires last month relative to the previous year, following a 1.1% increase in June and a 0.6% decrease in May.
According to the results of our dealer survey, demand for replacement tires increased in November. Indeed, from a volume standpoint the dealers reported they sold 0.6% more tires in November on a year-over-year basis, following a 0.1% increase in October and a 0.6% increase in September.
According to the results of our survey, demand for replacement tires increased in October. Indeed, from a volume standpoint the dealers reported they sold 0.1% more tires last month on a year-over-year basis, following a 0.6% increase in September and a 0.5% increase in August.
According to the results of our survey, demand for replacement tires increased in September. Indeed, from a volume standpoint the dealers reported they sold 0.6% more tires last month on a year-over-year basis, following a 0.5% increase in August and a 1.2% increase in July.
According to the results of our survey, demand for replacement tires increased in July. Indeed, from a volume standpoint the dealers reported they sold 1.2% more tires last month on a year-over-year basis, following a 1.2% increase in June and a 0.3% increase in May.
According to the results of our survey, demand for replacement tires increased in May. From a volume standpoint, the dealers reported they sold 0.3% more tires in May on a year-over-year basis, following a 0.2% increase in April and a 0.3% decrease in March. We are encouraged by the fact that demand trends remain positive after the sharp decline witnessed in February.
According to the results of our survey, demand for replacement tires remained somewhat encouraging in October. Indeed, from a volume standpoint the dealers reported that they sold 0.8% more tires last month on a year-over-year basis, following a 1.2% increase in September and a 0.1% increase in August.
