USTMA Dials Back 2023 Tire Shipment Forecast
The U.S. Tire Manufacturers Association (USTMA) has dialed back its forecast for 2023, and now says total tire shipments will total 325.4 million units, down from the 334.2 million units it predicted in March, and down from the 332 million tires shipped in 2022.
Comparing the March numbers to the new August figures, in both original equipment and replacement, the forecast has dropped for five of the six categories. The only exception — the OE passenger tire business was revised upward.
Total replacement passenger tire, light truck tire and truck tire shipment forecasts have dropped by 10.1 million units since the March forecast. The bulk of that decrease is seen in passenger tires, falling 5.3 million units.
Here’s a look at the latest forecast, compared to 2022 totals.
| 2023 Forecast | 2022 Total | Percent Change | |
| OE | |||
| Passenger | 43.9 | 41.6 | 5.6% |
| Light Truck | 6.2 | 6.3 | -0.5% |
| Truck | 6.5 | 6.5 | 0% |
| Replacement | |||
| Passenger | 210.5 | 213.7 | -1.5% |
| Light Truck | 35.9 | 37.2 | -3.6% |
| Truck | 22.4 | 26.6 | -16% |
| Total Shipments | 325.4 | 332.0 | -2.0% |
Shipments are rounded, and in millions.