I was once told by a tire shop mechanic never to use Armor-All on tires. AA eventually turns into an oily liquid, and I was told that liquids like that will dissolve and extract the waxes used in rubber compounds added to keep the rubber flexible and "moist". This recommendation against applies to things like gasoline and other wax-dissolving solvents.

Aside: the manufacturers of 303 Aerospace protectant understand the importance of maintaining the waxes in rubber compounds, and claim their product does not remove waxes. I have no experience using 303 on car tires myself.