12 April 2013 11:32 [Source: ICIS news]
Correction: In the ICIS story headlined "Europe Q1 replacement tyre sales fall 12%, dampens SBR demand" dated 12 April 2013, please read in the second paragraph ... around 46.5m replacement tyres... instead of ... around 45.6m replacement tyres... A corrected story follows.
LONDON (ICIS)--European replacement tyre sales during the first quarter of 2013 fell by 12% year on year, the European Tyre and Rubber Manufacturers' Association (ETRMA) said on Friday.
During the first quarter of 2013, around 46.5m replacement tyres were sold, down from 53.2m tyres in the first quarter of 2012.
"The market for consumer tyres was down by 12% due to, amongst other factors, bad weather conditions, delay of the change from winter to summer tyres, and not least the current economic environment," the ETRMA said.
Earlier this week, a styrene butadiene rubber (SBR) producer said SBR demand in Europe could slow in 2013 because of declining tyre sales.
"The EU [SBR] market will slow in 2013 as tyre producers will continue to reduce output," the producer said.
Several market players have forecast a 5-10% drop in tyre sales in 2013 compared with 2012, which will have a direct impact on SBR sales. The tyre industry consumes about 70% of worldwide SBR output.
Demand in northern Europe has been relatively stable during the first quarter, but declined drastically in southern Europe because the effects of the current macroeconomic slowdown have been felt there more strongly.
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