US Winter Tire Sales Dropped 26 Percent in 2017
Feb. 12, 2018—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, Tire Business reports.
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 independent tire channel sold more than 137 million tires in 2017, according to the panel's data. The average selling price per tire was $135.31, up $1.21 from 2016.
The GfK panel also found the following data:
- The average tire dealer sold 387 tires per shop per month in 2017, down 22 tires from 2016.
- Budget brand sales decreased 6.7 percent in 2017 from 2016, with an average 2017 sale price of $98.
- Sales of wheels larger than 18 inches in rim diameter increased 6.8 percent in 2017, while sales of rims smaller than 17 inches declined 9.2 percent.