WASHINGTON — The U.S. Tire Manufacturers Association (USTMA) is projecting that 2017 U.S. tire shipments will dip slightly to 318.1 million units after earlier forecasting a slight increase over 2016.
The USTMA did not elaborate on the reasons for the revised forecast. In March the trade group projected 2017 shipments of 319.8 million units. Shipments for 2016 were 318.4 million units.
The USTMA expects replacement tire shipments to increase slightly to 210.5 million units, while OE passenger tire shipments are expected to fall 3.6 percent to 47.5 million units.
Replacement light truck tire shipments are predicted to drop 2 percent to 31.2 million units for the year, while OE light truck tire shipments are expected to increase 5.6 percent to 5.2 million units.
Meanwhile, replacement truck tire shipments are projected to slip 0.5 percent to 18.5 million units, and OE truck tire shipments should increase 4.2 percent to 5.2 million units.