Lane Assist Series: Feedback from our tire distributor call on latest trends

研报英文原文证据摘录

Lane Assist Series: Feedback from our tire distributor call on latest trends

Global Research

16 June 2026ab

Lane Assist Series Equities

GlobalFeedback from our tire distributor call on latest

trends Automobiles

David Lesne

Analyst

david.lesne@ubs.com

We hosted an expert call with a European tire distributor +33-14-888 3034

Key topics discussed: Patrick Hummel, CFA

Potential EU tariffs on China PC tire imports ranging between 24-45%: The Analyst

patrick.hummel@ubs.com

distributor expects tariffs of ~24.4% for cooperating companies and around 45%

+41-44-239 52 54

for non-cooperating companies. He believes the final duties, which should be

confirmed by the EU soon, are unlikely to deviate significantly from these levels. It Juan Perez-Carrascosa

is still uncertain whether a retroactive application will be implemented. Most Analyst

juan-perez.carrascosa@ubs.com

distributors expect these tariffs to have a meaningful impact on the market, with

+34-91-436 9025

Chinese manufacturers likely needing around two years to relocate production

outside China; Zehua Jiang

Budget (summer) shortage risk delayed into 2027 but ...: Compared to our zehua.jiang@ubs.com

previous discussion in April, the distributor now expects potential shortages to +44-20-7567 0860

materialise in 2027, slightly later than the earlier expectation of H2 2026. This

delay is driven by currently elevated inventory levels and by some wholesalers

postponing distribution in anticipation of higher prices in the coming months amid

ongoing inflationary pressures;

… Strong winter tire season expected: The above concerns apply only to

summer budget tires. Chinese manufacturers exported relatively low volumes of

winter tires in H2 2025 due to limited production capacity. The last winter season