Tyres
US tariff more biased against Indian automotive, tyre industries as compared to Asian peers: ICRA
The US has imposed a 25 percent tariff on goods from India. This affects the Indian auto component and tyre industries. Indian manufacturers may face disadvantages compared to Asian countries. These countries have lower duties. The tariff could hurt the competitiveness of Indian suppliers. Auto component exporters are expected to diversify markets. They will also improve cost efficiency.
India-UK FTA to boost competitiveness of local tyre makers in British market: ATMA
India-UK trade agreement boosts tyre industry. Import duties removal enhances Indian manufacturers' competitiveness in Britain. Automotive Tyre Manufacturers' Association welcomes the deal. Tyre exports to the UK saw growth in recent years. The industry anticipates continued upward trend. Gradual tariff relaxation on imports balances export opportunities. The agreement supports long-term industry growth.
Expect double-digit growth in FY26, rural replacement market to continue to drive sales: CEAT
CEAT Ltd anticipates maintaining double-digit growth this fiscal year, driven by strong replacement demand in rural markets, particularly for two-wheeler tires. While direct supplies to automobile manufacturers are expected to be muted, the company is closely monitoring the tariff situation in the US to determine its future expansion strategy in that market.
Tyre industry to see 7-8% revenue growth this fiscal year on replacement demand: Report
The Indian tyre industry is poised for a 7-8% revenue growth this fiscal year, primarily fueled by replacement demand. While OEM offtake might be subdued, premiumisation will support realisations. However, trade tensions and potential dumping by Chinese producers pose challenges. Operating profitability is expected to remain steady, ensuring a stable credit outlook for the sector.
After challenging FY25, Apollo Tyres looking ahead with cautious optimism
Apollo Tyres anticipates growth after a challenging FY25, focusing on strategic execution and future investments, according to Chairman Onkar Kanwar. Despite underperforming in India and Europe, the company saw a 3% revenue increase, reaching Rs 26,123 crore. Key initiatives include expanding passenger car radial capacities in Hungary and Andhra Pradesh with a Rs 1,500 crore investment.
TVS Srichakra expands exclusive retail stores of Eurogrip Tyres in Chennai
TVS Srichakra Ltd, known for 'Eurogrip Tyres', has broadened its presence in Tamil Nadu by opening two new flagship stores in Chennai. These stores, located in Selaiyur and Villivakkam, will provide tyre care and related services. The company aims to extend its reach and cater to more customers in the region, with plans for further expansion in other cities.
Continental looks to scale up PV biz to align with evolving customer needs
Continental Tires India is set to expand its passenger vehicle tyre business, investing ₹100 crore to boost production at its Modipuram plant. The company aims to produce larger tyres, up to 23 inches, catering to the growing SUV and utility vehicle segment, which now dominates the Indian passenger vehicle market.
Tyre maker Continental to invest ₹100 crore in India to expand passenger vehicle business
Continental is set to invest approximately Rs 100 crore in India to boost its production capabilities and broaden its product range for passenger vehicles and light trucks. This investment highlights the company's commitment to manufacturing tyres tailored to the specific needs of Indian consumers, with a focus on performance and quality. The company will also expand its all-terrain product portfolio.
Continental puts brakes on truck-bus radial tyre biz in India
Continental will discontinue its truck and bus radial tyre business in India, including its Modipuram plant, by June 2025, due to intense competition. The company will now fully focus on its passenger car and light truck tyre business to align with future growth opportunities. Impacted employees will receive support, including career counseling and voluntary retirement schemes.
JK Tyre commences production of car tyres with ISCC Plus certified material
JK Tyre & Industries has begun producing passenger car tyres with ISCC Plus certified sustainable raw materials at its Chennai plant, initiating UX Royale Green tyre production. This certification validates the use of traceable, responsibly sourced renewable and recycled materials.
Ceat charts out Rs 1,000 cr capex drive for FY26
CEAT Ltd, owned by RPG Group, has allocated ₹950-1,000 crore for capital expenditure this fiscal year. The investment will primarily focus on expanding manufacturing capacity for truck and bus radials, off-highway tyres, and two-wheeler tyres. This includes increasing output at its Ambarnath factory and launching over 20 new OHT products.
Goodyear looks to sell India farm tyres biz for Rs 2,500 crore
Goodyear Tire & Rubber plans to sell its Indian farm tire business after selling its off-the-road business to Yokohama for $905 million. The US parent company is working with advisors to explore a sale, valuing the business up to Rs 2700 crore. This strategic review aims to optimize Goodyear's portfolio and cut costs, following pressure from activist shareholder Elliott.
Michelin to roll out locally-produced PV tyres this year; aims to ramp up portfolio
French tyre giant Michelin plans to start production of passenger vehicle tyres from its Chennai facility this year. The company is investing Rs 564 crore to create manufacturing capacity and intends to progressively expand its product portfolio to cater to different segments, with a focus on higher seat size SUVs.
Looking at import continuity for PV tyres till production ramps up at Chennai plant: Michelin CEO
Michelin seeks to extend its import license for passenger vehicle tyres in India as it develops local production in Chennai. The company is investing ₹564 crores in the facility. Import restrictions introduced in 2020 have constrained operations. Michelin intends to innovate and compete globally, including projects like NASA's lunar vehicle development.
MRF Vice Chairman & MD Arun Mammen takes over as Automotive Tyre Manufacturers' Association Chairman
Arun Mammen, Vice Chairman and Managing Director of MRF Ltd, has been elected as Chairman of the Automotive Tyre Manufacturers' Association, succeeding Arnab Banerjee of CEAT Ltd. Hiroshi Yoshizane of Bridgestone India is the new Vice Chairman. Mammen aims to position the Indian tyre industry as a major global supplier during the decade.
JK Tyre’s president Anuj Kathuria resigns amidst police probe
JK Tyre's president, Anuj Kathuria, resigned abruptly amidst a police investigation involving serious charges. Kathuria denied accusations and claimed the FIR as false and defamatory. He joined JK Tyre in 2022; the resignation was effective immediately. The company has not commented on the link between his resignation and the investigation. An internal audit head also resigned recently.
