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2 weeks ago

USTMA Forecasts Higher 2024 Tire Shipments for U.S. Tire Market

The U.S. Tire Manufacturers Association (USTMA) projects total U.S. tire shipments of 337.4 million units in 2024, compared to 331.9 million units in 2023 and 332.7 million units in 2019. This surpasses the previous record of 335.2 million units in 2021.

Compared with 2023, Original Equipment (OE) shipments for passenger, light truck and truck tires are expected to change by 0.0%, 5.5%, and -5.0% respectively, with the total units roughly same as 2023. Replacement passenger, light truck and truck tire shipments are also projected to change by 0.9%, 4.7%, and 8.9% respectively, with a total increase of 5.4 million units.

2024 

%

Units

%

Units

Forecast

2023

Vs 2023

Vs 2023

2019

Vs 2019

Vs 2019

Original Equipment

Passenger

45.7

45.7

0.0%

0.0

46.3

-1.3%

-0.6

Light Truck

6.2

5.9

5.5%

0.3

5.9

5.3%

0.3

Truck

5.9

6.2

-5.0%

-0.3

6.5

-9.4%

-0.6

Replacement

 

 

Passenger

221.2

219.2

0.9%

2.0

222.6

-0.6%

-1.4

Light Truck

35.9

34.3

4.7%

1.6

32.5

10.2%

3.3

Truck

22.6

20.8

8.9%

1.8

18.9

19.5%

3.7

 

 

Total Shipments

337.4

331.9

1.6%

5.4

332.7

1.4%

4.7

Note: All shipments in millions. Figures are rounded.

Detailed 2023 data can be found in the USTMA’s annual Factbook, which can be purchased from the Publications section at www.ustires.org

Source: USTMA

Tire and Rubber Association of Canada

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