Page 2 - Tyre Industry

Tyre makers cautious on outlook even as capacity utiliisation improves

Factors helping capacity utilisation include encouraging domestic replacement demand in passenger vehicles, two-wheelers and the farm segment, and a drop in imports

Off-highway tyre-maker ATG to invest Rs 1,240 cr in 3rd plant at Vizag

Off-highway tyre-maker Alliance Tire Group (ATG), owned by the Japanese major Yokohama Group, is setting up its third plant in the country in Visakhapatnam with an investment of USD 165 million (around Rs 1,240 crore). The proposed USD 165-million plant will add over 20,000 tonnes per annum (55 tonne per day rubber weight) capacity to the 2.3-lakh-tonne annual production from two India plants and will be commissioned by the first quarter of 2023. The plant will generate around over 600 new jobs, adding to its 5,500-strong headcount, Nitin Mantri, chairman of Yokohama India and director of ATG, told PTI on Sunday. ATG has one plant at Dahej in Gujarat with an annual capacity of 1.3 lakh tonne (360 tonne per day) and another at Tirunelveli in Tamil Nadu with an annual capacity of 1 lakh tonne. The group has a 45,000-tonne plant in Israel as well where it has its main R&D centre as well. The TN facility also has an R&D centre. These two plants produce all the three key ...

JK Tyre reports net loss of Rs 204 cr in June qtr as Covid-19 hits sales

Net sales declined to Rs 1,138.14 crore in the first quarter as compared with Rs2,581.47 crore in the year-ago period, JK Tyre said in a statement

Agri demand gives tyre maker Balkrishna Industries firm grip in FY21

Gain in market share, strong balance sheet are other positives

Tyre industry calls for curbs as imports remain buoyant despite lockdown

In the first 11 months of FY20, a year that saw economic slowdown in India and reduced demand, tyres worth $385 million still made their way to the country

Lower raw material cost to help tyremakers amid economic slowdown

Higher share of replacement segment should help cushion demand drop

Tyre production dips on slowdown in domestic market, overall exports up 18%

As far as exports are concerned, overall tyre exports rose by 18 per cent to 2.82 million units from 2.40 million units

Tyre makers to go through rough patch due to slowdown in auto sector

Following a 6.7% growth in FY19, the domestic tyre demand is estimated to grow at a lower rate of 3-4% (volume) during FY20, according to Icra

Replacement segment gives smooth ride to Apollo Tyres amid auto slowdown

Slowing auto sales, higher commodity costs remain major areas of concern

Govt slaps duties on new pneumatic radial tyres imported from China

The Department listed nearly eight tariff items and duty ranges from 9.12 per cent to 17.57 per cent

Double whammy for tyre firms: Rubber cost zooms, auto demand crawls

Natural rubber prices up 23% since January; weak demand in the replacement market, tepid exports add to manufacturers' woes

Rolling with the punches: Slowdown in auto sales drags tyre industry

Slowing auto sales have failed to dampen investments by tyre manufacturers as they remain optimistic about the future growth of the industry

OEM demand turns a strong driver for tyre makers

The share of OEM business in overall revenue of tyre makers has been inching up

Tyre industry hit as Q1 output of natural rubber falls to 6-year low

The country's output of natural rubber (NR) in this financial year's first quarter was a six-year low of 126,000 tonnes, while consumption was 302,000 tonnes. That is 42 per cent of consumption; a year before for the same period, the proportion was 54 per cent. Data from the Rubber Board of India shows production contracted by 12 per cent, while consumption rose 14 per cent. Output was below 45,000 tonnes in each of these three months, despite prices here being more than abroad; consumption crossed 100,000 tonnes in both May and June."This grossly inadequate availability is leading the tyre industry to a precarious position. The dependence on expensive import will need to go up significantly if tyre manufacturing operations are to be sustained," said Rajiv Budhraja, director-general of the Automotive Tyre Manufacturers Association (Atma).Of the inputs into making a tyre, a little over 40 per cent by weight is rubber. Atma complains home supply is not only inadequate but erratic. ...

Domestic production of natural rubber way below existing demand: Tyremakers

Tyre industry consumes around 65-70% of the overall natural rubber produced in India

Cheap Chinese imports to put pressure on Indian tyre industry

Tyre majors have said that the days of higher industry profit margins are most likely to be behind and the expected hardening of raw materials prices coupled with excess capacity in the industry will see intensifying competition in the market place. The price increase which the companies have announced was not absorbed by the market.It is therefore critical for companies to protect its turf in the commercial tyres and the two wheeler segments, which will be under severe pressure in the years ahead. ATMA has also reported about investments in the order of $ 5.5 Billion (about Rs 36,000 crore) in additional capacity creations. This increase in Capacity, coupled with growing Chinese imports will put pressure on the tyre manufacturers.K M MAMMEN, Chairman & Managing Director, MRF said that the Indian Tyre Industry went through a very turbulent year with economic volatility, further compounded by initiatives like demonetization and changeover from BS III to BS IV norms.Competition has

Tyre makers, rubber firms make peace over increasing production, quality

Tyre companies to work with Rubber Board; short- and long-term quality standards to be set