RANCHO CUCAMONGA, Calif. — Light truck tire sales were rebounding in the U.S. in July after suffering a slump earlier in the year.
For the first half of July, U.S. light truck tire volume (LT metric and flotation) increased 14%, compared with the year-ago period, after suffering a 45% plummet in April, according to Sumitomo Rubber North America Inc. (SRNA).
Passenger and commercial truck tire shipments also were recovering after being hit by the economic effects of the pandemic in April and May.
In the first half of July, passenger tires were down 5%, after plummeting 56% in April; medium truck tires edged up 3% compared with the year-ago period, according to SRNA executives, quoting U.S. Tire Manufacturers Association (USTMA) data.
SRNA executives were optimistic about the tire market going forward during their fifth SRNA COVID-19 Dealer Resource Forum, held online July 23.
In June, U.S. passenger tire volume was down 7%; light truck tire sales were flat; and medium truck tires were down 6%, according to USTMA data.