Price increases drive sales growth for US independent tire channel

According to GfK, out-the-door price increases have resulted in a stronger trend for US dollar sales rather than unit volume for the year to date.

NEW YORK, NY, UNITED STATES, November 13, 2019 /EINPresswire.com/ — According to new 2019 data from GfK’s US panel of independent tire dealers, out-the-door price increases – especially on non-Light Truck tires – have resulted in a stronger trend for dollar sales rather than unit volume for the year to date. This dollar strength has helped the US independent market stay essentially flat overall, despite decreases in unit sales.

GfK insights representing over 3,200 dealers nationwide show that the overall independent tire market posted -0.2% change in unit volume YTD, compared to the same period in 2018, but gained 2.4% in dollar sales.

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Passenger car and SUV tires – which account for over 80% of the US market – recorded a 0.9% increase in dollar sales YTD, compared to the same period in 2018, but a drop of 1.4% in unit volume.

Segments posting strong performance YTD include Rims 18” or larger, Light Truck tires, and Summer models.

GfK is adding over 1,400 independent US tire retailers to its panel over the next several months. These additional doors will allow GfK to provide more granular breakouts of the market. Starting in 2020, GfK will begin to deliver weekly and regional breakouts of its data, allowing for more local analysis of individual markets.

About GfK

GfK is focused, digital and a client-centric business. The company connects data and science and is in the unique position to leverage proprietary and third-party data to create indispensable predictive market and consumer insights as well as recommendations. Innovative analytics solutions provide answers for key business questions around consumers, markets, brands and media. As an analytics partner, GfK promises its clients all over the world “Growth from Knowledge.”
For more information, please visit www.gfk.com/en-us or follow GfK on Twitter: www.twitter.com/GfK.

David Stanton
GfK
+1 9088759844
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Source: EIN Presswire