This MTD exclusive was provided by John Healy, managing director and research analyst with Northcoast Research Holdings LLC and author of MTD’s monthly Your Marketplace column.
Recent dealer commentary suggests that consumer demand for passenger and light truck tires fell on a net basis during July 2022, continuing a trend that we have observed over the last several months.
Less than 25% of the net number of respondents to our latest survey reported that they experienced positive year-over-year demand in June – a smaller percentage than observed in June and May 2022, but a decline nevertheless.
So while the rate of year-over-year decline is improving , we also note that tire manufacturer price increases and inflationary pressures in the broader economy are still working to dampen consumer tire spending.
From a high-level view, we get the feeling that …