Global tire data released, China is still the worst!

Recently, Michelin released global tire sales data in May. China tire data is still the worst.

Passenger car tire market: foreign countries are picking up, and China has reached an inflection point

Data show that global passenger car tire sales in May finally returned to normal after plummeting 16% last month.

Although demand in China has improved from April, it is still severely affected by the production interruption caused by the epidemic and quarantine policies. The ancillary market was down 16% from a year earlier, and the replacement market was down 29%.

According to data from the China Automobile Association, in May 2022, Chinese brand passenger cars sold 799,000 units, a month-on-month increase of 45.1% and a year-on-year increase of 17.5%, accounting for 49.2% of the total passenger car sales, a decrease of 7.8% from the previous month. percentage points, an increase of 7.9 percentage points over the same period of the previous year.

From January to May 2022, Chinese brand passenger vehicles sold a total of 3.897 million units, a year-on-year increase of 11.3%, accounting for 47.9% of the total passenger vehicle sales, and the share increased by 6.4 percentage points over the same period of the previous year.

In Europe and the Americas, demand in Europe and North America rebounded strongly on a very favorable comparative basis due to the impact of semiconductor shortages in May 2021. Compared with the same period last year, the number of packages in Europe increased by 9%, while the package market in North and Central America increased by as much as 19%.

Commercial vehicle tire market: still deserted

In May 2022, global demand forecasts continue to be affected by weak demand in China, and demand for commercial vehicle tires remains as expected (the China VI standard comes into effect in July 2021, causing heavy truck sales to plummet).

According to the data of the China Automobile Association, in terms of commercial vehicles, in May 2022, the production and sales of commercial vehicles completed 225,000 and 239,000 units, an increase of 7.2% and 10.4% from the previous month; a decrease of 47.0% and 50.5% from the same period last year.

From January to May 2022, the production and sales of commercial vehicles will be 1.422 million and 1.421 million respectively, a year-on-year decrease of 39.4% and 41.9% respectively.

With the exception of China, the rest of the global tire market is still recovering, and economic activity in the previous months is still driving the kit and replacement market, which is generally higher than 2019 levels.

In North America, due to the impact of the epidemic in the second quarter of 2021, the original equipment market in 2022 rose sharply within a month on a favorable comparison basis compared to the same quarter.

has the tire market seen the light?

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