Nelson - China Automobile Expert-CNAUTO

The institutional tire industry relies on more stable alternative markets and is therefore somewhat insulated from the cyclicality of auto sales. Mumbai: Growth in tire demand in FY2021-24 may not be sufficient to absorb the new capacity generated by the current capex cycle, and overall capacity utilization may remain as high as 20%, ratings agency India Ratings said.-Ra) revealed. Ind-Ra While original equipment manufacturers are also expecting a sharp decline in (OEM) sales by 20-25%, the tire industry will still see a mid-single digit decline in sales as alternative markets continue to support the industry. Based on the industry segmentation, the agency expects to reach 2023-24 2000 with 70-75% capacity utilization for two or three wheelers and 80-85% capacity utilization for passenger car radials. Setting up or adding additional capacity. By FY 2023-24, Trucks and Buses, Trucks and Buses (TB) expects capacity utilization in the sector to be 65-70%. In a press release, Ind-...

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Tyre

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Const machinery & Agro equipment

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