 "Cheaper Chinese import continues to affect the domestic industry in the truck and bus radial segment")
Tyre majors expect more market competition, with an expected hardening of input prices, coupled with excess capacity in the industry.
The Automotive Tyre Manufacturers Association (Atma) says there has been about Rs 42,000 crore of investment over the past four years in additional capacity creation. This has come at a time when import of tyres from China has surged.
K M Mammen, chairman of tyre major MRF, recently said the industry had gone through a turbulent year, with economic volatility compounded by demonetisation and the change to higher vehicle emission norms.
The company believes raw material cost escalation, especially of natural rubber, is
