Michelin Group says global demand for original equipment (OE) and replacement PLT tires declined 3% during the first quarter.
"In the OE segment, global demand ticked up 1% from favorable prior-year comparatives, assisted by the gradual easing of supply chain constrictions for semiconductors and other components," say Michelin officials.
"Chains remain under pressure, however, and automakers are still experiencing temporary production bottlenecks."
North America was a bright spot for overall OE tire demand during the first quarter of 2023. There, demand grew by 8%, according to Michelin.
However, replacement tire volume in North and Central America declined 7% during the first three months of the year.
"Dealer inventory drawdowns dampened sell-in demand over the period."
Michelin notes that replacement tire volume in China rose 3% on a year-over-year basis.
