May tyre data shows ongoing good times for Europe’s truck industry

Michelin has published data for May commercial vehicle tyre shipments with the following commentary: “Strong market growth in OE in Europe and North America. In (Replacement Tires) growing demand in Europe due to a dynamic freight even considering one extra day of sale; flat to negative market in North America following price hikes and strong early-year Chinese imports.”

Europe

European OEM tyre shipments improved by 11% (also by 11% if Russian and CIS markets are netted out) during May. Working days in May 2017 amounted to 21 – one more than the 20 recorded during May 2016. Both 2016 and 2017 saw four Saturdays apiece, but May 2016 included seven Sundays / holidays, whereas 2017 saw just six. Therefore, after a couple of months where year-on-year comparisons have been tricky, May 2017 allows us to look at such a measure with increased confidence.