European Tyre Producers Reached Profits of 47 Billion Euro in 2011 image

Last year 4.8 million tones of tyres were produced in Europe, accounting for 24% of the global production.

Tyre production in 2011 was up 6.6% compared to 2010 and European replacement market sales reached 301.7 million units, up 4.41% over 2010. A total of 289 million replacement passenger car and light commercial vehicle tyres were sold last year, up 4.21% and 12.6 million replacement commercial vehicle tyres, up 9.1%.

The European industry turnover saw an increased to 47 billion euro, up 8% from 2010. Tyres worth around 10 billion euro were imported into Europe last year, up 16.2% from the previous year, which translates in 215.7 million units, 8.2 per cent more than in 2010. Europe exported tyres worth 8 billion euro, up 16.4%, which means a total of 71.2 million tyres, up 11.5% from 2010.

Beginning November 2012, the European Union will introduce a new standardized tyre label, which will inform consumers on three key tyre performance features: exterior rolling noise, wet grip performance and fuel efficiency. This means that from November 1st all tyres sold in the European Union will have the same label, which will make easier consumer’s task when choosing and compare tyres.