LesterDierser - China Automobile Expert-CNAUTO

MUMBAI: Indian tire makers who have been sticking to the “price rule” in recent years seem to have finally softened up. Last month, for the first time in a year and a half, tire companies cut prices by 4% across all categories. The price cuts were even greater in the bias (nylon) tire segment. They have resisted price cuts even though the price of their main raw material, natural rubber, fell by half last year. Banerjee, Managing Director, Arnab “Falling prices of key raw materials such as rubber and crude oil have put increasing pressure on team operators to reduce the prices of their products, which has played a key role in the recent price adjustments.” Operations, CEAT. According to industry sources, MRF, CEAT, Apollo Tire and other tire companies have announced price cuts. MRF reduced its commercial tire prices by 1-2%, while Apollo Tires reduced prices of various tires by 2-3%. JK Tires reduced its prices by 1-2% in its truck and tractor se...

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Cheaper rubber pushes tyre companies like MRF, CEAT and Apollo to slash prices upto 4%