Tire Sales Expected to Fall Further in 2009

According to the Rubber Manufacturers’ Association, tire shipments saw a 9% decline in 2008, and the industry expects more bad news for 2009, when sales are projected to fall another 7%.

With tire shipments for 2009 expected to decline by 21 million units, tire shipments will fall to 261 total units — the lowest levels since 1993. This is just part of the supplier line you often hear about when analysts talk about the impact of falling car sales or automaker bankruptcies.

Another indicator of the times we live in is that the segment of tires that has seen the least impact is replacement passenger tires, which saw only a 5% decrease. This is likely due to owners trying to hold on to old vehicles longer.