NEW YORK — Tire sales in U.S. retail stores fell 5.6 percent in 2017, with winter tire sales falling 26 percent, according to the first findings from the data analytics firm GfK Group.
These results represent the first findings from GfK's newly formed point-of-sale (POS) tracking panel to create a distribution channel for U.S. replacement tires that is statistically sound and helps reduce back orders.
"At a time of huge change — from consolidation, e-commerce, and other factors — a consistent view of the independent tire channel is essential to making smart, fact-based decisions," said Neil Portnoy, managing director of POS tracking for GfK in North America.
The U.S. tire retail market represents 62 percent of all tire sales nationwide, according to GfK. The panel collected data from more than 3,500 points of sale, providing data that for the first time allows tire manufacturers and retailers to understand countrywide trends, competitor activities, sale prices and brand market share in the replacement tire market for the first time, the company said.