Good news for European and Irish tyre industry

Just released, the European Tyre & Rubber manufacturers’ Association’s (ETRMA) 2011-12 annual report, brings very good news for the tyre industry.European replacement tyre market sales totalled 301.7 million units last year, representing an increase of 4.41 per cent over 2010 levels.

The rise breaks down as follows: replacement passenger car and light commercial vehicle tyre sales came to 289 million units, up 4.21 per cent, and replacement commercial vehicle tyre sales amounted to 12.6 million units, a 9.1 per cent year-on-year increase. Both clearly indicate very good news for all the tyre industry.

The report also contained good news for European based tyre manufacturing. During 2011, some 4.8 million tonnes of tyres were manufactured in Europe, a figure representing 24 per cent of the global total. Overall tyre production levels within the region were 6.6 per cent higher than in 2010.

Turnover for ETRMA members in the 27 EU countries was €29 billion, a year-on-year rise of 13 per cent. The report also shows that about €10 billion worth of tyres were imported into Europe during 2011, 16.2 per cent more than the previous year. This figure represents 215.7 million units, 8.2 per cent more than in 2010.

European manufacturers exported tyres to the value of €8 billion, an increase of 16.4 per cent over 2010 levels. A total of 71.2 million tyres were exported from Europe last year, a year-on-year increase of 11.5 per cent.

Overall, European tyre industry turnover amounted to €47 billion, 8 per cent higher than in 2010. This is all very positive news for everyone in the European tyre industry and (touch wood), a sign that tyre production has found a stable level and is on a gradual upward curve that works for manufacturers, importers and retailers alike.

But as they say, all politics is local, and it is important that on the island of Ireland, we work all the angles to have turnover and profitability on a gradual upward curve.