5 _323 2023 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN 5 FINANCIAL PERFORMANCE Report of the Managers Methodological note: Tire market estimates reflect sell-in data published by local tiremaker associations (sales of manufacturers to dealers and vehicle manufacturers), plus Michelin's own estimates of sales by tire manufacturers that do not belong to any association. These estimates are based primarily on importexport statistics and are expressed in the number of tires sold. They are regularly adjusted and may be updated following their initial publication. 5.1.1 c) Passenger car and Light truck tire markets in 2023 The global Original Equipment and Replacement Passenger car and Light truck tire market grew by 2% year-on-year in 2023, lifting demand back to 2019 levels in both segments. THE GLOBAL PASSENGER CAR AND LIGHT TRUCK TIRE MARKET, 2023 VS. 2022 (1) Including Turkey and Eastern Europe. (2) Including Central America. Michelin estimates. Original Equipment In the Original Equipment segment, global demand climbed by 9% year-on-year, impelled by an expanding market dynamic as automakers took advantage of easing supply chain restrictions to steadily rebuild vehicle inventory. Robust EV sales, particularly in China, also helped to support demand for new vehicle tires. Passenger car and Light truck tire markets Original Equipment (in millions of tires) 2023 2022 2023/2022 Secondhalf 2023/2022 Fourthquarter 2023/2022 Thirdquarter 2023/2022 First-half 2023/2022 Secondquarter 2023/2022 Firstquarter 2023/2022 Europe(1) 83 75 +11% +7% +9% +5% +14% +14% +15% North America(2) 75 69 +9% +6% +4% +7% +12% +15% +9% South America 15 14 +3% -2% -3% 0% +8% +7% +9% China 132 121 +9% +11% +21% +2% +7% +22% -6% Asia (excluding China) 77 70 +10% +5% +6% +4% +16% +18% +15% Africa/India/Middle East 36 36 +1% +1% -3% +5% +2% +4% 0% TOTAL 417 384 +9% +7% +10% +4% +11% +16% +6% (1) Including Turkey and Eastern Europe. (2) Including Central America. Michelin estimates. 13% 1% 3% 9% 9% 9% 9% -4% 0% 0% -4% 11% 10% 2% Original Equipment Replacement North America(2) Europe(1) Asia (exc. China) China South America Africa, India, Middle-East Total
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