Page 2 - Tyres

Ceat MD Arnab Banerjee takes over ATMA chairmanship from JK Tyre MD

Automotive Tyre Manufacturers' Association on Friday said Arnab Banerjee, Managing Director (MD) & CEO of CEAT Ltd has been elected as its new Chairman. Banerjee was elected at the Managing Committee Meeting (MCM) of the association held on Thursday evening, Automotive Tyre Manufacturers Association (ATMA) said in a statement. He takes over from Anshuman Singhania, Managing Director of JK Tyre and Industries. Having joined CEAT in 2005 as Vice President-Sales and Marketing, Banerjee held several roles and was the Chief Operating Officer at CEAT since 2018 prior to taking over his current role, the statement said. An alumnus of the Harvard Business School, IIM Kolkata, and IIT Kharagpur, Banerjee also holds an Associate Certified Coach (ACC) Certification. ATMA members include Apollo Tyres, Bridgestone India, CEAT, Continental India, Goodyear India, JK Tyre & Industries, MRF and TVS Tyres.

We have developed an 80% biodegradable tyre: JK Tyre CMD Singhania

Average selling price of tyres will 'slightly move up', he says in interview about where industry is headed

APL Apollo Tubes Q2 results: Profit up 35% to Rs 203 cr, misses estimates

The steel tube maker's consolidated profit rose 35% to Rs 203 crore in the second quarter, but missed analysts' average estimate of Rs 222 crore, according to LSEG data

1,000 vehicles denied entry on Samruddhi Expressway due to worn out tyres

Nearly 1,000 vehicles were denied entry to the Samruddhi Expressway over worn out tyres between April 1 and June 30 this year, an official said. The expressway, operational on a 601 kilometre stretch from Nagpur to Nashik, was the site of a horrific bus accident on Saturday in which 25 persons were charred to death. As per the action taken data shared by Maharashtra's Road Safety Cell, teams of eight RTO offices counselled 21,053 motorists and prohibited entry to 973 vehicles for worn out tyres on Samruddhi Expressway since April 1 this year. "The teams were from Amravati, Aurangabad, Washim, Buldhana, Jalna, Shrirampur and Nashik RTOs. A total of 234 motorists were caught for speeding, including 77 through a computerised mechanism installed on the route, which has a design speed of 150 kmph and limit of 120 kmph," an official said. Bharat Kalaskar, deputy commissioner (road safety) said action was taken using RTO interceptor vehicles as well as the computerised system, adding that

Tyre stocks may rerate on sustained demand momentum, margin gains

Recovery in the replacement segment and sales to auto makers to drive volumes

Considering production of passenger vehicle tyres in India: Michelin CEO

French tyre major Michelin is actively considering production of passenger vehicle tyres locally in India, according to the group Chief Executive Officer Florent Menegaux. The local manufacturing would help the Clermont-Ferrand based tyre major to scale up operations in India, which remain critically subdued with the government introducing import restrictions in 2020. The tyre maker, which has presence in 175 countries with 67 plants, currently sells only premium bigger size tyres in limited quantity especially for performance oriented models in India. In 2020, the government imposed curbs on imports of certain new pneumatic tyres used in motor cars, busses, lorries and motorcycles in a move to promote domestic manufacturing. Tyre companies can now import only a small number of tyres into the country under a limited import licence, which was not the case before 2020. In an interaction with PTI here, Menegaux said the group sees India as a great developing market. He noted that th

Weak demand, margin outlook to keep Balkrishna Industries under pressure

Tyre-maker's challenges include excess inventory, muted demand in agriculture sector

JK Tyre launches specialised product range, sees demand from EV, SUVs

Company launches smart tyres that give real-time updates about pressure, temperature and punctures to phone app

Indian tyre industry to scale turnover of Rs 1 trn in next 3 years: ATMA

The Indian tyre industry will be able to scale a turnover of Rs 1 lakh crore in the next three years on the back of new capacities available, Automotive Tyre Manufacturers Association said on Wednesday. The industry has completed investment of Rs 35,000 crore in the last three years in new capacity creation and debottlenecking. "The new capacities will go on stream over the next couple of years to meet the growing demand in an economy that is poised to remain as the fastest growing for the next few years," Automotive Tyre Manufacturers Association (ATMA) said in a statement. Demand is expected to grow stronger in view of an uptick in economic activities and the big push envisaged for infrastructure growth. "The new capacity will help the industry notch a turnover of Rs 1 lakh crore in the next 3 years from Rs 75,000 crore currently," ATMA said. "The investments that have been undertaken in a challenging time period, span across all the key tyre segments with major beneficiary bein

Reise Moto introduces two-wheeler tyre for domestic market in joint-venture

Reise Moto, a joint venture between Mahansaria Group and European brand Mitas, on Monday launched a two-wheeler tyre range for the domestic market. The tyre under the 'Reise' brand will cater to both motorcycle and scooter segments and will also be shipped to South Asian markets. For Reise Moto, Mahansaria Group has entered into a 76:24 joint venture with Mitas. The company will roll out the tyres from its new facility in Saykha, Gujarat. The plant produces performance two-wheeler tyres under brand 'Mitas' for European and North American markets and under brand 'Reise' for the domestic market in India. "In today's highly dynamic Indian two-wheeler space, the key is to serve the ever-evolving needs and aspirations of enthusiasts who expect a lot more from their machines than just commuting," Reise Moto Founder & Managing Director Yogesh Mahansaria said in a statement. The company said it is developing a formidable network of distributor partners to sell the Reise range of ...

Santosh Iyer to lead Mercedes in India as Martin Shwenk moves to Thailand

Youngest and first Indian to be appointed for the top job

CCI conducts raids on offices of Apollo Tyres, Ceat, Continental

One of the sources said the case was related to an antitrust investigation into the use of unfair trade practices and rigging of bids while supplying tyres for public transport vehicles in Haryana

Tyre major CEAT reports Rs 20-crore net loss in December quarter

The company had posted a net profit of Rs 132 crore in the third quarter of the financial year 2020-21

Tyre stocks may continue to underperform as margin worries weigh

Price hikes by companies have not been enough to absorb the sharp rise in input costs

Tyre manufacturer Ceat raises stake in Tyresnmore Online to 46%

Tyresnmore Online is a digital platform for purchasing tyres and fitting services

Tyre stocks in focus; Balkrishna Ind at record high, Apollo Tyres jumps 5%

Balkrishna Industries hit a new high of Rs 2,656.95, up 5 per cent on the BSE in intra-day trade, surpassing its previous high of Rs 2,558.15 touched on August 4, 2021

Improving demand, peak capex to trigger linear growth in tyre industry

Improving demand along with stable competitive intensity, and peak capex is expected to trigger linear growth for the Indian Tyre industry

JK Tyre to spend Rs 200 crore in next two years to enhance production

The firm reduced net debt by Rs 929 crore in FY21

Apollo launches new range of tyres for compact SUV segment

Apollo Tyres on Tuesday said it has launched a new range of tyres for the fast growing compact SUV segment. The company said it has launched Apterra Cross tyres in the country after two years of extensive testing and tuning. This is the first dedicated range of tyres that caters to the compact SUV segment, the hottest selling segment of the decade, in the Indian automotive industry, Apollo Tyres said in a statement. As per industry estimate, the CSUV (Compact SUV) tyre market in the country is pegged around four lakh tyres per month, and is soon expected to double. "The rise of the compact SUV segment, priced affordably, has reinvigorated the dream of owning an SUV in the Indian market, and we being the segment creators in the tyre space, are looking at leveraging on this opportunity with a dedicated range of tyres for this growing segment," Apollo Tyres President, Asia Pacific, Middle East & Africa (APMEA) Satish Sharma said. The company has the first mover advantage with Apollo

French tyre major Michelin to hike prices in India by 8% from March

The move is in order to offset the impact of rise in input costs