Deutsche Bank Comments on Tire Industry Trends

Deutsche Bank is providing a few comments on the tire industry, its trends, and why it lowered its estimates on two companies. “We lowered estimates for Goodyear GT and Cooper Tire CTB on Friday based on evidence that the US replacement tire market was decelerating: U.S. Replacement Tire volumes declined by 11.2% in May following a 2.3% decline in April,” Deutsche Bank writes. “For the quarter-to-date industry volumes are down 7.6%. For comparison, Q1 volumes were up 5.8%.” Goodyear closed Monday at $14.78; Cooper Tire closed at $19.38.