PASSENGER CAR TIRE MARKET IN EUROPE

Passenger car sales fell in Europe’s significant business sectors in February, as debilitating worldwide economy, higher vehicle taxes and the COVID-19 flare-up burdened purchasers’ hunger for new vehicles.

In February 2020, new vehicle registrations dropped 7.2% to 1.067 million vehicles in the European Union, Britain and the European Free Trade Association (EFTA) nations, measurements by the European Auto Industry Association (ACEA) appeared.

Deals succumbed to the second successive month in EU’s significant business sectors, with Italy dropping 8.8%, Germany 10.8%, France 2.7% and Spain 6% in February.

Volkswagen’s deals were down 4.4% in February, while Renault and PSA Group posted a drop of 14.3% and 8.5%, separately. BMW kept on being among the couple of automakers announcing an expansion in European deals a month ago, rising 2.1%, while interest for rival Daimler fell 11.9%.

The drop comes as Europe is wrestling with the COVID-19 pandemic and Italy turning into the most exceedingly awful hit nation outside of China.

FOCUS ON ONLINE SALES IN PASSENGER CAR TIRE MARKET IN EUROPE

Tire maker Goodyear has entered online business space in Europe.

It has dispatched online deals of the tires in Germany as the pilot market on the landmass. Steadily, the organization will dispatch this program in more business sectors across Europe.

Goodyear is offering the German shoppers the choice to buy tires and timetable establishment on its site. It asserts the web-based business will offer a consistent shopping experience and will empower gradual development for the neighbourhood retail accomplices.

Cooper Tire Europe is satisfied to affirm that terms have been concurred with Fintyre for the select conveyance of light vehicle tires to the Italian market. Under the arrangement, Cooper will supply passenger car, SUV and van tires through Fintyre. By uniting with Fintyre, Cooper will upgrade its inventory network in this key European market

MARKET SIZE AND FORECAST

The passenger car tire market in Europe is estimated at $XX Billion in 2020, growing at –% CAGR till 2025.

COMPANIES PROFILED

• Michelin
• Continental
• Goodyear Tire

THIS REPORT WILL ANSWER FOLLOWING QUESTIONS

• Market Size and Forecast, by geography($M)
• Opportunities and risks in Passenger Car Tire Market in Europe
• Important technology trends and regulatory changes
• 5 key predictions for next 5 years in Passenger Car Tire Market in Europe
• Competitive landscape and market share of leading vendors
• OE- Supplier alignment in Passenger Car Tire Market in Europe
• New product development in Passenger Car Tire Market in Europe
• COVID impact on Passenger Car Tire Market in Europe and suppliers` earnings