Tyre makers to invest Rs 20,000 cr in 3 years as demand sees uptick

Despite subdued vehicle production levels in the past six months due to a dip in consumer sentiment, the domestic tyre demand is estimated to have grown by 9-11% in FY19

Tyre makers will invest around Rs 20,000 crore over the next three years as the industry is optimistic that demand would grow by 7-9 per cent during FY19-23.
 
Despite subdued vehicle production levels in the past six months due to a dip in consumer sentiment, the domestic tyre demand is estimated to have grown by 9-11 per cent in FY19. A major chunk of it came from the replacement market.
 
In April-December FY19, the tyre industry increased production by 11 per cent to 146.351 million tonnes from 132.314 million tonnes during the same period the previous year, according