The European Tyre Market and the effects of COVID-19
The Consultancy LMC made an analysis of the effects of COVID-19 on the European Tyre Market.
The analysis is based on the following points:
• As coronavirus has spread throughout the world, measures governments have taken to reduce infection rates have affected economic growth, vehicle
purchases, driving behaviour and the number of miles driven.
• Full lockdown leads to around an 80% fall in light vehicle sales, but recovery begins as countries open up.
• Replacement tyre sales fall as movement is restricted, with the fall in light vehicles (LV) replacement tyre sales greater than that of Medium and Heavy Commercial Vehicles (MHCV) replacement tyre sales. Early evidence suggests retreads are the least affected.
• Public transportation use collapses