Onkar S Kanwar and Neeraj Kanwar.

NEW DELHI: Onkarr S Kanwar, chairman and managing director, Apollo Tyres, said the uncertainty created by the coronavirus pandemic will continue and he doesn’t see a premature end to the “new normal”. Given the bleak global outlook, including India and Europe, tire giant Apollo Tyres (Onkar S Kanwar) is focusing on employee safety, saving cash, re-engineering production, reducing all unavoidable costs in R&D and adopting a “cautious approach”. Continue to invest in electronics. Training, branding, etc.

“FY20 was a tough year in every respect. While the automobile industry grew slowly in FY19, last year was a difficult year for the industry due to deterioration in consumer confidence. Kanwar, in his address to shareholders in the company’s 2019-20 In its annual report, Kanwar referred to the rising cost of Non-Banking Finance Companies (NBFCs) insurance, rising cost of ownership and liquidity crisis.

However, he said that the company remains optimistic about the rebound, “While we showed signs of recovery in Q3, we encountered headwinds in Q4 due to COVID-19, the outbreak and subsequent national blockade.”

“India’s economic growth had a negative impact on the overall tire industry. While sales in the automotive sector declined by 18% and overall tire production declined, India’s growth rate for FY2020 was 4.2%, an 11-year low. The growth is around 8%,” Kanwar said.

Looking ahead, he said, “it is reasonable to assume that uncertainty will continue. Personally, I don’t think this ‘new normal’ will end prematurely. But the show must go on, and we see opportunities to adapt and grow.”

Kanwar added that the company continues to “emphasize the ‘new normal’ as our standard, but our top priority is the safety and well-being of our employees.”

Despite the crisis, “we can still achieve the crisis in 2020,” he said Year 6 Organized the virtual inauguration of the seventh manufacturing plant in Andhra Pradesh, India.

2020 7 This month, the company announced the establishment of a plant in Limuda, Gujarat, India, to produce premium bias tires and steel radial tires for the two-wheeler segment. ‘

In terms of overall outlook, Apollo Tyres said it is being cautious due to the gloomy global, Indian and European outlook.

“The focus is on employee safety and cash preservation. The company is redesigning and manufacturing to reduce all unavoidable costs and focusing on R&D, e-training and brand building.”

COVID-19 Most automakers have announced temporary plant closures due to collapsing demand, supply shortages and government measures.

“Indian Original Equipment Manufacturers (OEMs) expect the COVID-19 automobile industry to face severe challenges such as impact, deteriorating consumer confidence and liquidity crisis because of BS-VI implementation and price hike. “There will be 30-40% growth. There is a lot of demand in FY 2021, which will have a serious impact on the tire industry,” said Kanwar, Vice Chairman and Chairman, Apollo Tires.” For-It’s been a difficult few months because we’ve had to make tough decisions. Temporarily close our plants and reduce overall costs.”

However, he said that the company sees challenges as opportunities and has initiated several measures to redesign the Apolloo tire with DRIVE in the leadership theme.

He said, “We are learning from this outbreak and using it as a new normal to energize the entire company and achieve greater productivity.”