Report the USA automobile tire market and international trade and why in 500 words.
What country would you choose to trade with and why?
The industry outlook for tires in the United States was upbeat during 2011. The radial original equipment tire shipments in US pushed up by 13% compared to the previous year. The bias original equipment tire shipments moved up by 5.5% compared to 2010. And the small farm original equipment tire shipments increased by 9% compared to 2010. (www.moderntiredealer.com/).
The US replacement tire sales touched $32.1 billion. There was pent up demand that led to the spurt in demand for replacement tire sales. Of these 81% are consumer tires. The Rubber Manufacturers Association and MTD data points out that the US consumer tire plants were running at 65% capacity in 2009. However, in 2010 the forecasts of these tire makers were thrashed when the spending on tires rocketed. The tire makers were flooded with orders. Some increased capacity others ordered imports but most tripped on back order issues. The retail tire dealers also experienced a pick up in sales.
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