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Timeline for adoption of new norms regarding tyres need revision to test large number of SKUs: ATMA
The ATMA body also said, “The new standards are in the spirit of discussions with the government to bring Indian standards in line with international standards. These standards are a step in the right direction and will help improve road safety and increase fuel efficiency of vehicles.” He said. Automobile Tire Manufacturers. The ATMA Association said Friday that the adoption schedule for the new specifications should be revised to cover rolling resistance, wet grip and rolling acoustic emission requirements to allow the industry to test multiple stock keeping units (SKUs). ATMA said that according to the draft notification from the Ministry of Road Transport and Highways, (MoRTH), the proposed standards will be proposed from 2021 October 1 apply to all new tire designs and to 2022 October 1 apply to all other existing passenger car tire designs. Tire manufacturers plan to manufacture tires in 2022 October 1 Light commercial vehicles were introduced recently (LCV) ...
IngridBowen
49
May 31, 2024
JK Tyre debottlenecking operations amid demand surge
In the second half of the last fiscal year, the company utilized 95% of its production facility capacity. JK Tyre Industries is working on removing operational bottlenecks, increasing production capacity to meet expected demand after the second wave of the epidemic and reducing long-term debt (expected to increase by one-third or Rs. 1.5 trillion in the) next three years. The country’s third-largest tire maker said its business has recovered significantly since the easing of the embargo in the last fiscal year, and on 12 New capacity will not be considered for a month. Instead, the company will utilize its existing assets to meet demand. Chief Financial Officer (CFO) Sanjeev Aggarwal told The Economic Times that the company reduced its net debt by Rs 9.3 billion in the last fiscal. Its net debt on books now stands at Rs 45,000 crore. Once we further consolidate our position next year, we will be in a better position (given the new capacity expansion),” Aggarwal...
DrewHarriman
79
May 31, 2024
Lockdowns likely to affect business in short-term: MRF
The second wave of the Covid-19 blockade will affect business in the short term, with tire giant MRF Ltd saying there will be some uncertainty over vehicle demand in the coming months. MRF Chairman and Managing Director KM Maman, in the company’s 2020-21 address to shareholders in its annual report, said the company is hopeful that demand for tires will recover as the blockade eases. He wrote, “In many cases, businesses have been negatively impacted, but the industry has learned to deal with the embargo. The embargo has also affected our business, and we are hopeful that tire demand will recover with the lifting of the embargo.” Maman said automobile companies have also reduced production during the blockade and “it seems that once the blockade is lifted, things will return to normal.” There is some uncertainty as to how demand will evolve over the next few months.” The company’s latest annual report says the outlook for the automotiv...
PeteRaphael
48
May 31, 2024
Michelin to hike tyre prices by up to 8% in India
French tire giant Michelin said on Tuesday it will increase prices in India by 8 percent from June 18th. The company raised prices for passenger car tires, light trucks and motorcycles by 6 percent in Africa, India and the Middle East, and by 8 percent in Africa, India and the Middle East. The cost of tires for on-road and off-road commercial vehicles has declined by 10 percent due to rising raw material costs, global transportation costs and current market dynamics, the tire maker said in a statement. The Michelin group added that the prices in India will rise at 6:00 p.m. effective July 18, and the Middle East price hike will be effective for July 1 since date and will apply to all Michelin group brands. Michelin said the price changes may vary depending on the specific products in each brand’s portfolio. 6 dealers, fleets, end-users and commercial equipment manufacturers will have more information before 6 the first week of the month. Michelin services cars, trucks,...
MadgeJohnson
78
May 31, 2024
Ceat launches new tyre range for compact SUVs
Group photo of agency representatives Tire maker Ceat On said Thursday that it has launched a new line of compact SUVs. Ceat Tires in a statement, SecuraDrive compact SUV range will cater to the fast growing market. The new SecuraDrive compact SUV range is ideally suited to the fast-growing market segment. The tire manufacturer added that the tires offer many benefits such as precise steering control and cornering stability. The tires offer excellent braking performance, low cabin noise and a comfortable ride, the tire maker said. “The compact SUV market has grown by 50 percent over the last five years and is expected to grow at a 20 percent compound annual growth rate (CAGR) over the next three to four years. We see the potential and demand for this segment to be met by special tires. This tire range offers the best combination of comfort and performance.” said Amit Tolani, Chief Marketing Officer, Ceat Tires. SecuraDrive The range will be available first....
JennyEden
45
May 31, 2024
MRF Q1 results: Net profit increases over 12-fold to Rs 166 crore
The company reported a net profit of Rs. 13 billion for the last FY4 FY4 FY4 quarter to June quarter. Related Affle Q1 results: net profit up 57% to Rs 37% crore. OnMobile Q1 results: net profit up 36% to Rs 120 crore. DCB Bank Q1 results: net profit down 57% to Rs 120 crore. NEW DELHI: MRF Tire giant on Monday reported a more than 12 days times growth in consolidated net profit to Rs 1.66 billion for the first quarter ended June 30. The company had posted a net profit of Rs 13,000 crore in the April-June quarter of the previous fiscal. MRF’s operating profit increased to Rs 41,840 crore in the first quarter as against Rs 24,610 crore in the first quarter of 2020-21, according to a regulatory filing. MRF shares traded 3.16% higher on BSE till Rs 82.020.25% per share.
DylanLowell
59
May 31, 2024
Ceat Tyres partners with TyresnMore to offer doorstep tyre fitment services
Dealer customers can use the counter at their nearest CEATT to receive their order or choose to have it shipped to their door with or without the assembly option. Ceat Tires, on Wednesday, said it has partnered with TyresnMore, a digital platform for buying tires and batteries, to offer doorstep service to customers during the coronavirus epidemic, selling a range of tires online and offering contactless fitting services at the following addresses: Ceat Tires, in a statement The service is currently being offered by Mumbai, Delhi Capital Territory, Bengaluru, Hyderabad and Pune, with plans to expand the service to other cities in the future. TyresnMore has offices in National Capital Territory of Delhi, Bangalore, Hyderabad, Pune and Mumbai to provide door-to-door tire assembly, replacement, balancing, alignment and maintenance services. Commenting on the tie-up, Amit Tolani, Chief Marketing Officer, Ceat Tires Ltd, said, “Customers now prefer easy access to services a...
JillHawthorne
63
May 31, 2024
Tyre exports grow by 10 pc to Rs 14,097cr in FY21
AFPATMA said the top five export markets for Indian tires in FY21 were the US, Germany, France, Italy and the UK , with double-digit growth in exports to both these countries. Association of Manufacturers (ATMA) India’s tire exports grew 10% annually to Rs 140.97 billion in 2020-21, according to the industry body’s automotive tire data released on Thursday. ATMA cited the latest data released by the US Department of Commerce, which showed that tire exports grew by 8% to 3.64 billion units in the last fiscal. India said in a report that the export growth came against the backdrop of disruption in international trade due to the New Crown Virus pandemic, which led to a sudden 23% drop in India’s tire exports in the first quarter of fiscal year 2021. ATMA Ans human Singhania “The significant growth in tire exports in a difficult year shows the resilience of the industry in spite of challenging circumstances.”” ATMA said government measures, in...
DuncanTennyson
47
May 31, 2024
CEAT to supply tyres for M&M’s new seven-seater Bolero Neo
In the past, CEAT has also had Mahindra to work on tires. Tire maker CEAT on Wednesday said it will supply Mahindra with high-performance CZARR HP series tires for the company’s new seven-seat Boleroro Neo sport utility vehicle. The day before, MM unveiled a new SUV powered by the Mahindraa MHawk engine and equipped with a third-generation chassis shared with the Scorpio and Thar. CEAT Ltd has partnered with Mahindra The newly launched Mahindra has launched the Bolero Neo. CEAT said in a press release that it will supply CZARR HP tires for the new vehicle. In the past, CEAT has also partnered with Mahindra to provide tires for various other models. CEAT Ltd This means that it has optimized the tire to provide better steering control, improved fuel efficiency, and perfectly complements the excellent performance of the Bolero Neo. “Over the years, our partnership with Mahindra has evolved and we are very proud of it. We have come a long way since 2015+ years an...
ZacharyLindberg
42
May 31, 2024
CEAT partners Adobe to develop direct-to-consumer business model
Tire manufacturer Ceat has partnered with U.S. software company Adobe to collaborate on the development of direct-to-consumer (D2)C) Get Tekno’s business model, supported by Tekno Point as an implementation partner, according to a press release. The partnership, powered by Adobe’s assumption of the Experience Cloud application, will enable Ceat to offer personalized services and discounts to its customers and dealer partners across multiple touchpoints, the company said in a press release on Tuesday. “We have invested heavily in digital over the past few years. We’re excited to partner with Adobe on our digital journey Collaborating to create an omnichannel customer experience allows us to extend our capabilities virtually into people’s homes. Arnab Banerjee “Customers can now buy online and then in the nearest CEATT Pick up repairs over the counter or use our in-home repair service (TyresnMore) for support), which includes safely repairin...
MaxwellWood
54
May 31, 2024
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