Check out the latest sales data of truck tires

In Michelin's pre-disclosed first quarter report, we saw the difficulties of global tire giants in the truck tire market. But is Michelin the only one encountering sales difficulties in the truck tire market? Of course not! In 2025, global truck tire manufacturers and sellers are in a "dilemma".

01 Truck tire sales of tire giants in the first quarter

According to data released by Michelin, Michelin's truck tire supporting business only outperformed the market average sales in South America, but it is still in a year-on-year decline. In the first quarter of 2025, the truck tire supporting market was in a mess, with overall sales falling by 4%; especially the situation in the North American market is not optimistic. In the first quarter of truck tire sales, the North American and Central American markets fell by 16%. European truck tire supporting sales fell by 2% in the first quarter.

But it is worth noting that Michelin's sales in the truck tire supporting markets in Europe and North America were not ideal. The European truck tire supporting business fell by 12% year-on-year (higher than the European market average), and the supporting business in the North American and Central American markets fell by 14%.

Although Michelin maintained the same sales level in the South American truck tire market as in the same period of 2024, considering the sales volume in South America, even if the sales level of last year was maintained, it did not boost Michelin's overall sales performance much. Therefore, with unsatisfactory sales performance in Europe, North America and Central America, Michelin's truck tire supporting business declined by 6% in the first quarter of 2025.

However, in the truck tire replacement market, Michelin's sales were basically the same as last year - in the European truck tire replacement market, Michelin achieved a year-on-year growth of 1%. In the past two years, when the European truck tire replacement market share is being squeezed by more Asian imported tires, Michelin can still achieve a 1% growth in this market. On the one hand, its truck tire service "added value" and interconnected services have played a key role in truck tire replacement sales, and on the other hand, it also shows that the demand in the European truck tire market is recovering.

From the data, we can see that the 1% year-on-year growth in the European truck tire replacement market offset the 3% decline in the European market. The European truck tire replacement sales are very impressive, and the Western European market is recovering rapidly. However, with the arrival of April, will Michelin, which has a truck tire layout in North America, achieve an increase in sales? After all, the truck tire replacement market is about to be reshaped under tariffs.

02 The US imported tire market has undergone a sudden change.

The purpose of Trump's imposition of reciprocal tariffs on the world is very clear this time-to stimulate the return of manufacturing. In 2024, the United States imported 270 million tires, accounting for more than 70% of its total tire sales. The sales cycle of imported tires is by no means only one year, which means that in 2025, these imported tires will still be sold in the US domestic market.

However, this influence is likely to last only half a year, which means that after June, the sales of US truck tires will change significantly. Asian tires that are popular in the United States have encountered tariffs ranging from 23% to 46%.

Among them, in Thailand, the main source of tire imports for the United States, the price of a truck tire will increase from RMB 869 to RMB 1,269 per tire; the price of a truck tire from Vietnam will increase from less than RMB 1,600 to nearly RMB 2,000; the price of a truck tire exported from South Korea to the United States will increase to RMB 2,100; and the price of tires exported from the European Union to the United States will directly increase to RMB 3,000.

Perhaps in the secondary and tertiary tire replacement markets that pursue quality-price ratios, American truck drivers will still choose tires from Southeast Asia, but they will have to pay more; but in the primary market and fleet service bidding, when the prices of imported tires and local tires are the same, local tire manufacturers are likely to get more opportunities. This is why in April, almost no tire companies announced the closure of US factories again.

In addition, we noticed that due to the difference in tax rates, the price of Vietnamese truck tires, which were originally cheaper, exceeded that of tires produced in Thailand. Under the implementation of reciprocal tariffs, Thai tires have a greater price advantage. Can this push up the sales share of Thai tires in the United States again? In the primary market of the United States, can tire companies with production capacity layout in the United States really benefit from this? We are all waiting for market feedback...