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Centre extends anti-dumping duty on bus and truck tyres from China by three months
The agency’s latest order is a requirement issued in response to the latest order of the Automotive Tire Manufacturers Association of China (ATMA) to conduct a sunset review investigation of imported products. It imposed anti-dumping duties on imported passenger car and truck tires originating from China for three months. The anti-dumping duty imposed since September 2017 is valid for five years and will continue till December 2022, according to the official gazette. The anti-dumping duty imposed on these Chinese products under the Consumer Affairs and Customs Commission (CBEC) ranges from $245.35 to $452.33 per ton. Applies to buses, trucks and typical rim diameter codes over 16 New or unused pneumatic radial tires (including tubeless tires) with or without inner tubes and/or rubber flaps for inch trucks. Should the Automotive Tire Manufacturers Association should the Automotive Tire Manufacturers Association (ATMA) these imports from China after the sunset investig...
PeteAmelia
64
May 31, 2024
JK Tyre lines up Rs 1,100 crore capex for two years
The agency also arranged for the expansion of Truck Bus Radial (TBR) for its subsidiary Cavendish Industries. JK Tire and Industries Sanjeveve Aggarwal The company has planned a capital expenditure of Rs 11 billion for the next fiscal. The tire manufacturer plans to invest in regular maintenance of existing infrastructure and expansion of capacity. Speaking on an analyst call, Aggarwal said, “Total expenditure for the next two years (2023) FY24 and FY24 will be Rs 110 including about Rs 300 crore Rs 100 crore on maintenance capex.” Majority of the capex (Rs. 53) crore will be utilized for expansion of Passenger Car Radial (PCR) capacity. The company also plans to expand the Truck Bus Radial (TBR) capacity of its subsidiary Cavendish Industries. “The previously announced bottleneck removal program has been implemented and completed. Ongoing projects include Rs 2.36 billion TBR capacity expansion and Rs 5.3 billion PCR capacity expansion. “These...
GeoffreySteele
59
May 31, 2024
JK Tyre strengthens retail presence, inaugurates 70th outlet
Setting up the plant in Tamil Nadu is in line with the objective of strengthening its retail presence in Tamil Nadu and across the country. Chennai: Tyre maker JKK Tire and Industries on Friday said it has set up a new truck wheel center in Tamil Nadu to strengthen its domestic business. The new store, which was inaugurated by the company’s CEO Sanjeevee Sharma at Pattanur in Vilupuram district, will be the company’s 15th in Tamil Nadu The home store in this state is also the 70th home store. The plant is spread over 40 lakh sq. ft. to provide end-to-end solutions for truck and bus tires. According to a company statement, the company trains technical consultants, wheel repair equipment, truck and bus tires. Srinivasusu, Director, Sales and Marketing, JK Tire and Industries Aravan “The new Truck Wheel Center in Pattanur highlights JK Tire’s customer centric philosophy of unmatched “One Stop Solution Service”. The opening of the facility ...
OpheliaRudolph
55
May 31, 2024
Tyres need to meet standards for rolling resistance, wet grip, rolling sound emissions from October
PTI Union Minister for Road Transport and Highways Gadkari. According to an official statement, new tires for cars, trucks and buses will have to meet prescribed standards for rolling resistance, wet grip and rolling noise emissions from October. A tire’s rolling resistance affects a vehicle’s fuel efficiency. Wet grip improves vehicle safety by affecting the braking performance of tires on wet pavement. Rolling noise emissions relate to the sound made by tires as they strike a moving road. “The Ministry of Road Transport and Highways (MoRTH) has issued a notification stipulating rolling resistance, wet grip and rolling noise emission requirements for C1 (passenger cars) in the automotive sector, C2 (light trucks) and C3 (trucks and buses) class tires. “As defined in Standard 142:2019 Intermediate.” According to the MoRTH notification, all existing tire designs must comply with the wet grip and rolling resistance standards from April next year,...
IanPeacock
48
May 31, 2024
CEAT aims to make deeper inroads into small towns, eyes 1 lakh outlets in 2-3 years:COO Arnab Banerjee
iStock Featured Image CEAT Ltd Arnabb Banerjee on Friday said it plans to expand its tire sales network to populations of 50,000-10,000 through FMCG distribution In human areas, it plans to double the number of dealerships to 10 percent in two to three years. The company, which has been working successfully with kiranana store operators, small auto parts dealers and flat tire repair stores, believes that some parts of the country with a population of 25,000 Some areas have already witnessed a certain degree of “saturation” penetration and even need to be improved. Go to places that are sparsely populated for two-wheeler tires. Banerjee The scheme, said in 2011, is scheduled to start around 2011-2012 25 years and is aimed at attracting rural two-wheeler customers who need to drive for around 25 years and can only buy replacement tires at kilometers above what has become CEAT It has brought in handsome returns, contributing around $ 70,000,000. It comes from the alter...
LyndonWhit
50
May 31, 2024
Apollo Tyres gears up to meet demand from promising EV segment
The next step in the company’s plan is to develop electric tires for motorcycles, considering that sales are currently low. NEW DELHI: Apollo Tyres expects to accelerate the use of electric vehicles in the coming years and is trying to cater to both the passenger car and the two-wheeler segment. The company on Monday launched two tire brands: electric passenger cars and two-wheelers to explore opportunities in domestic and international markets. “There is a consensus that the electric two-wheeler market will grow the fastest, with scooters leading the way, followed by motorcycles. Moreover, by 2030 the annual sales of four-wheelers are expected to increase and account for about 15-20% of total vehicle sales. By 2030, sales of electric two-wheelers will account for 30-35% of total sales, he said. Sharma said. The company has launched two brands-Amperion and Wav-for electric passenger cars and two-wheelers respectively. We will scale up,” Sharma said. He...
HeddaDeQuincey
54
May 31, 2024
Apollo Tyres expects to meet $5-billion revenue target by 2025-26
Considering the current extremely low sales in this category, the company plans to develop motorcycle electric tires next. Apolloo is headquartered in Gurgaon Tires expects to increase sales to $5,010 million by fiscal 2026, and its domestic and international sales remain strong despite fears of an inflation-induced recession. To capitalize on the growth opportunity, the company plans to launch Apolloolo and Vrestein branded tires for electric vehicles. Satish Sharma, president, Asia Pacific, Middle East and Africa, Apollo Tyres, told The Economic Times that electric vehicles (EVs) are expected to accelerate in the coming years. As a result, the company is working hard to meet the demand from both passenger car and two-wheeler segments. Sharma said, “It is widely believed that the electric two-wheeler segment will grow the fastest, while scooters in the bus segment will grow the fastest, followed by motorcycles.” By the end of this century, the policy framewor...
BenjaminAgnes
67
May 31, 2024
JK Tyre & Industries to invest Rs 1100 crore to expand production capacity
AgciesJK Tire Industries reported a 23% drop in net profit for the second quarter ended September 30, 2022 with an investment of Rs 500 million. JK Tire Industries plans to invest 1,100 crore over the next two years To meet the surging consumer demand in the rural and urban-rural markets during the festive season, Rs. 500 crore has been spent on expanding the production capacity. JK Tire Industries President (India) (India) Anuj Kathuria “Growth in international markets may slow down due to the uncertainty prevailing in the world, but demand is strong here. Festivals have boosted sales, especially in rural and urban-rural markets.” Said. We plan to increase production levels as the rainy season normalizes and the rural economy recovers. Caturia said the company’s production facilities were operating at “good” utilization rates. Investments are being made to increase the production capacity of passenger cars and trucks and buses in the two years ...
DennisCooper
46
May 31, 2024
Tyre makers to invest Rs 1,100 crore in rubber plantation in Northeast, West Bengal
Association as Automotive Tyre Manufacturers (ATMA) In a five-year project jointly implemented by the Rubber Board of North East Bengal and West Bengal, the four major tire makers are investing Rs 11,100 crore to increase rubber plantations. India has a huge gap between demand and supply of natural rubber and is heavily dependent on natural rubber imports, said KN Raghavan, Managing Director, Rubber Board, in an interview to Indian newspaper Torustan (PTI) in Guwahati on Friday. He said, “In 2021-22, India’s natural rubber consumption is 1.23 million tons against domestic rubber consumption of 770,000 tons. The demand for natural rubber is expected to increase to 2 million tons by 2030. Vietnam imported 5.46 million tons of rubber, mainly from Indonesia, Vietnam, Thailand and Cte d’Ivoire (Côte d’Ivoire), with exports reaching Rs 7,500 crore in the last fiscal year, Raghavan said. “In this context, ATMA has recommended to increase domestic produ...
AnnaNancy
49
May 31, 2024
Tyre biz cartelisation: NCLAT asks CCI to pass fresh order; review fines to save domestic tyre industry
iStock Featured Image The NCLAT Appellate Tribunal has directed the Competition Commission to pass a fresh order on the issue of alleged cartel of tire companies, citing the need to re-examine computational and careless errors and review penalties to save the domestic tire industry. After a series of appeals filed by tire manufacturers against the Competition Commission of India’s (CCI) August 2018 ruling, the National Company Law Appellate Tribunal (NCLAT) on December 1 The order was issued on the day. CCI fined the tire company a total of over Rs 178.8 1 crore. In a 166-page order, the tribunal remanded all cases to CCI for review and directed the regulator to “pass fresh orders after hearing the parties”. The court also said that the regulator “should consider punitive measures to save the domestic industry” in view of the immense pressure on global tire manufacturers who have a lot of idle capacity. NCLAT pointed to “unintention...
BurkeSailsbury
47
May 31, 2024
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