More than 20 percent of American consumers are likely to purchase a tire, according to a recent study by Tire and Rubber International, and a number of companies have been growing their business in an increasingly competitive market.
In fact, American tire makers are seeing a marked rise in their sales of new tires, according in a new report from the National Association of Tire Dealers.
The study, conducted by the Association of American Tire Dealrs (NATD), found that the average tire was on sale for $5.98 in 2017, up from $4.97 a year earlier.
That’s up from about $5 in 2016, when the average price was about $4, the report said.
Tire prices are on the rise in all 50 states, and in the nation’s largest cities.
But in some cities, the demand is growing faster than the supply.
In Chicago, for example, the average value of new and used tires was about 5 percent lower in January than it was in February.
The industry also has seen its business grow by a surprising amount in some states.
In January, the National Rubber Association (NRA) reported that the industry saw its largest sales growth in the Northeast, with more than 1.5 million new tires sold in the region.
In the Midwest, the region with the largest growth, there were 1.6 million new and leased tires sold.
The average new tire cost about $8.79 in January, compared to about $12.00 in February, according the NRA.
Tires in the Midwest are more affordable than those in the South, but they are still more expensive than tires in the rest of the country, the study found.
The NTA also found that some states with the most aggressive tire restrictions have seen the biggest growth in new tires sales, including Alabama, Mississippi, Tennessee, Texas and Wisconsin.
States with the strictest restrictions, including Texas, Louisiana and South Carolina, saw a decline in sales, the NTA report said, while states with less restrictive rules, such as Colorado, also saw a drop in sales.