05 Financial performance Report of the Managers 5.1.1 c) Passenger car and Light truck tire markets in 2024 The global Passenger car and Light truck sell-in tire market grew by 2% over the year in 2024, as a 4% gain in Replacement sales offset a 2% decline in the Original Equipment segment. THE GLOBAL PASSENGER CAR AND LIGHT TRUCK TIRE MARKET, 2024 VS. 2023 (1) Including Turkey and Eastern Europe. (2) Including Central America. Michelin estimates. Original Equipment In the Original Equipment segment, global demand ended 2024 down 2% year-on-year, with a steeper decline in Europe (down 7%) than in North America (down 2%) and a 3% increase in China. Demand in Asia excluding China (mainly Japan and South Korea) also weakened over the year, declining by 8%. Passenger car and Light truck tire markets Original Equipment In millions of tires 2024 2023 2024/2023 Secondhalf 2024/ 2023 Fourthquarter 2024/2023 Thirdquarter 2024/2023 First-half 2024/2023 Secondquarter 2024/2023 Firstquarter 2024/2023 Europe(1) 76 83 -7% -11% -13% -9% -4% -7% -1% North America(2) 74 75 -2% -4% -3% -5% +1% 0% +1% South America 15 15 +1% +10% +11% +9% -8% -10% -7% China 136 132 +3% +2% +7% -4% +4% +3% +6% Asia (excl. China) 71 77 -8% -8% -8% -7% -8% -5% -10% Africa/India/Middle East 36 37 -1% -7% +9% -20% +5% +1% +8% TOTAL 409 418 -2% -4% -1% -7% -1% -2% 0% (1) Including Turkey and Eastern Europe. (2) Including Central America. Michelin estimates. - 1% - 1% 1% - 2% 3% - 2.3% 2% 0% 2% 3.7% 9% - 7% - 8% 3% Original Equipment Replacement North America (2) Europe (1) Asia (exc. China) China South America Africa, India, Middle-East Total 319 2024 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN
RkJQdWJsaXNoZXIy NzMxNTcx