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Tires - US - November 2017

Tires, the only objects that touch the ground on a vehicle, play an extremely important role in vehicle ownership. A typical tire lasts around 30-40 thousand miles, or three to four years depending on how much driving a car owner does. Accounting for the occasional flat or punctured tire, a car owner will typically purchase a new set of tires three to four times in a 10-year ownership time span. The tire market is extremely competitive with well over 20 brands vying for consumer dollars. The challenge for brands is to remain top of mind in a long purchase cycle category.

This report examines the following issues:

  • Replacement tire market forecasted for growth
  • Four in 10 car owners don’t know the brand of tires on their cars right now
  • Less than half of tire buyers can tell when they need to replace their tires

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Table of contents

  1. Overview

    • What you need to know
      • Definition
      • Executive Summary

          • The issues
            • Six in 10 car owners don’t actively think about their tires
              • Figure 1: Attitudes toward tires, September 2017
            • Less than half of tire buyers can tell when they need to replace their tires
              • Figure 2: Tire maintenance behavior, September 2017
            • Four in 10 car owners don’t know the brand of tires on their cars right now
              • Figure 3: Current tire brand awareness, September 2017
            • The opportunities
              • Replacement tire revenue expected to grow
                • Figure 4: Total US retail sales and forecast of replacement tires, at current prices, 2012-2022
              • Four of five vehicle owners agree it is worth it to have a professional change the tires
                • Figure 5: Attitudes toward tires, September 2017
              • Tire shoppers are very receptive to price incentives
                • Figure 6: Attitudes toward tires, September 2017
              • What it means
              • The Market – What You Need to Know

                • Replacement tire market forecasted for growth
                  • Gas prices remain low for US drivers
                    • Low unemployment and high consumer confidence spurs maintenance spending
                      • Americans are driving more than ever
                        • Average age of vehicles increasing
                        • Market Size and Forecast

                          • Replacement tire revenue expected to grow
                            • Figure 7: Total US sales and fan chart forecast of replacement tires, at current prices, 2012-22
                            • Figure 8: Total US sales and forecast of replacement tires, at current prices, 2012-22
                        • Market Breakdown

                          • Passenger tire sales dwarf light truck tire sales
                            • Figure 9: Replacement tire breakdown, by segment, 2016
                          • Independent retailers are the primary retail channel
                            • Figure 10: Total US retail sales of replacement tires, by channel, 2016, 2014, 2012
                        • Market Perspective

                          • Light truck sales growth will spur light truck tires moving forward
                            • Figure 11: Total US unit sales and forecast of new passenger cars and new light trucks, by segment, 2012-22
                        • Market Factors

                          • Gas prices remain low for US car owners
                            • Figure 12: US gasoline and diesel retail prices, January 2007-September 2017
                          • Low unemployment and high confidence should spur maintenance spending
                            • Figure 13: Consumer confidence and unemployment, 2000-September 2017
                          • Record number of vehicle miles traveled by Americans in 2016
                            • Figure 14: Vehicle miles traveled, 2000-2016
                          • Tariffs reduce low cost imports from China
                            • Figure 15: US consumer tire imports from China, 2004-2016
                          • Average age of vehicles on the road increasing
                            • Figure 16: Average age of light vehicles in the US, 1995-2016
                        • Key Players – What You Need to Know

                          • Goodyear continues to lead in both passenger and light truck segments
                            • Smaller brands struggle to grow market share
                              • Tires on the cloud
                              • Company and Brand Sales of Replacement Tires

                                • Goodyear Tires retain top market share in both passenger and light truck tires
                                  • Replacement tire segment extremely fragmented
                                    • Figure 17: Replacement passenger car tire sales market share, by brand, 2015 - 2016
                                    • Figure 18: Replacement light truck tire sales market share, by brand, 2015 - 2016
                                    • Figure 19: Dunlop online display ad, January 2017
                                • What’s Rolling?

                                  • Goodyear Tires retain top spot in both passenger and light truck tires
                                    • Figure 20: Goodyear online display ad, October 2017
                                    • Figure 21: Goodyear online mobile display ad, August 2017
                                    • Figure 22: Goodyear acquisition email, September 2017
                                    • Figure 23: Goodyear tire and store locator landing page, September 2017
                                • What’s Flat?

                                  • Smaller brands not growing market share
                                  • What’s Around the Turn?

                                    • Smart-tires driving on the cloud
                                      • Color-accented tires add style and flair for car owners
                                      • The Consumer – What You Need to Know

                                        • Four in 10 car owners don’t know the tire brand on their current cars
                                          • Online tire purchases remain a small segment of total sales
                                            • Cost is the top reason behind choosing a tire retailer
                                              • Less than half of tire buyers can tell when they need to replace their tires
                                                • Few car owners say they cheap out on tires
                                                  • Car owners see value in professional installation
                                                  • Most Recent Tire Purchase

                                                    • Majority of car owners have purchased tires within the past three years
                                                      • Figure 24: Most recent tire purchase, September 2017
                                                    • Fathers most likely to have purchased tires
                                                      • Figure 25: Most recent tire purchase, by gender and parental status, September 2017
                                                  • Current Tire Brand Awareness

                                                    • Nearly four in 10 car owners don’t know the tire brand on their cars
                                                      • Figure 26: Current tire brand awareness, September 2017
                                                    • Men more likely than women to know their current tire brand
                                                      • Figure 27: Current tire brand awareness, by gender, September 2017
                                                  • Purchase Location

                                                    • Car owners are buying tires from a wide variety of sources
                                                      • Figure 28: Purchase location, September 2017
                                                    • Walmart continues its success among younger car owners
                                                      • Figure 29: Purchase location, September 2017
                                                  • Purchase Reasons

                                                    • Cost tops reasons for choosing a specific tire retailer
                                                      • Figure 30: Purchase reasons, September 2017
                                                    • Warehouse clubs, Walmart, and Discount Tire chosen for their pricing
                                                      • Figure 31: Purchase reasons, by purchase location, September 2017
                                                    • Older shoppers value trust and familiarity
                                                      • Figure 32: Purchase reasons, by age, September 2017
                                                    • Online reviews valued by younger shoppers
                                                      • Figure 33: Purchase reasons, by generation, September 2017
                                                  • Tire Maintenance Behavior

                                                    • Less than half of tire shoppers can tell when to replace their tires
                                                      • Figure 34: Tire maintenance behavior, September 2017
                                                    • Millennials and Gen-Xers utilizing online resources most
                                                      • Figure 35: Tire maintenance behavior, by generation, September 2017
                                                  • Attitudes toward Tires

                                                    • Car owners see value in a professional installation
                                                      • Figure 36: Attitudes toward tires, September 2017
                                                    • Perceived value of run-flat tires increased from 2016
                                                      • Figure 37: Attitudes toward tires, August 2016 – September 207
                                                    • Women less likely to proactively think about their tires
                                                      • Figure 38: Attitudes toward tires, by gender, September 2017
                                                  • Cluster Analysis

                                                      • Figure 39: Tire shopper segments, September 2017
                                                    • Trust Buyers
                                                      • Characteristics
                                                        • Figure 40: Profile of Trust Buyers, September 2017
                                                      • Opportunities
                                                        • Figure 41: Attitudes toward tires, by clusters, September 2017
                                                      • Deal Hunters
                                                        • Characteristics
                                                          • Figure 42: Profile of Deal Hunters, September 2017
                                                        • Opportunities
                                                          • Figure 43: Attitudes toward tires, by clusters, September 2017
                                                        • Budget Tire Shoppers
                                                          • Characteristics
                                                            • Figure 44: Profile of Budget Tire Shoppers, September 2017
                                                          • Opportunities
                                                            • Figure 45: Attitudes toward tires, by clusters, September 2017
                                                        • Appendix – Data Sources and Abbreviations

                                                          • Data sources
                                                            • Sales data
                                                              • Fan chart forecast
                                                                • Consumer survey data
                                                                  • Direct marketing creative
                                                                    • Abbreviations and terms
                                                                      • Abbreviations
                                                                        • Terms

                                                                        Companies Covered

                                                                        To learn more about the companies covered in this report please contact us.

                                                                        Tires - US - November 2017

                                                                        US $3,995.00 (Excl.Tax)