Popular Tire in North America

As the annual report was disclosed, many tire companies pointed out that the decline in financial data was due to the decline in the supporting tire business in the US market. However, according to data from the US Tire Manufacturers Association (USTMA), the supporting market in the United States does not seem to be very bad. According to USTMA, North American new car consumption increased in 2024.
01 New car sales growth data showed that new car sales in the United States increased by 2.5% to 16 million, while new car sales in Canada increased by 8.7% to 1.86 million. Most new car sales in the North American market come from domestic automakers. Sales of new cars manufactured in the United States, Canada or Mexico increased by 2.5% in the United States to 12.4 million; new car sales of North American domestic automakers in Canada increased by 5.7% to nearly 1.3 million.
Cars imported from outside North America accounted for 22.4% of new car sales in the United States and 31.4% of new car sales in Canada.
02 Japan and South Korea's supporting business soared
Japanese and South Korean tire companies showed a significant increase in North American supporting sales in 2024. U.S. import sales of new cars increased 2.5% to 3.59 million units, bringing more than 14.4 million orders to the supporting market. Among these imported supporting tires, tires belonging to Korean and Japanese manufacturers accounted for 70%. The best-selling car brand in the United States is Toyota, and in Canada it is Ford. Tesla Model Y has become the most popular model in the U.S. passenger car market, but Ford's F series is popular in both the United States and Canada.
Because the best-selling models are "larger" cars, light truck and off-road vehicle tires in the United States will show growth in 2024-better than the passenger car tire market. Overall, the number of light trucks increased by 2.8% to 183.6 million, of which 60% are domestic trucks. According to data from S&P Global Mobility and Car Care Association, the number of passenger cars decreased by 2.9% to 102.2 million.
03 Popular matching specifications revealed
In 2024, 8 of the top 10 sizes in the US domestic passenger car matching market are 18-inch and above tire specifications, and 20-inch and 22-inch tire specifications are also among them. It is reported that the top 10 specifications account for 35.4% of the US passenger car tire matching market share. In addition, 275/60R20 has become one of the best-selling sizes for the third consecutive year.
04 There is still a 15-inch tire market in the replacement market
According to USTMA data, in the passenger car tire replacement market, two of the top ten specifications belong to 20-inch tires, three specifications belong to 18-inch rim diameter sizes, and 15-inch specifications are also among the top ten. The top 10 sizes account for 28.5% of the passenger car tire replacement tire market share. 225/65R17 once again became the most popular specification in the replacement market.
In addition, the matching and replacement sales of tires with speed grades H, V and Z fell compared with the previous year, which is the first decline in the past few decades.
05Tires in the light truck tire market are getting bigger
In the light truck tire market, whether it is the supporting market or the replacement market, LT275/70R18 is one of the most popular specifications. Tire specifications of 18 inches and above are more popular in the light truck market; the top 10 light truck tire specifications account for 79.2% of supporting sales and 57.6% of replacement sales.