Last week, the Rubber Manufacturers Association updated its tire shipment data for 2013. Under the new forecast, US tire shipments are expected to increase more than 4% in 2013 to 297 million, an increase of 12 million units compared with 2012. This represents a significant improvement over previous forecasts, particularly for replacement tires, where demand benefited from an increase in miles driven. However shipments are expected to slow in 2014: the RMA expects demand for 302 million total tire shipments, up less than 2% from 2013. A declining unemployment rate, a rebound in housing, increases in vehicle sales and vehicle miles traveled, as well as other macroeconomic factors are expected to account for the 2014 increase.
December 23, 2013
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