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Indian Truck and Bus Tyre Production Up

(India/Rubber Asia) Truck and bus tyre production continues to increase and now accounts for 65 per cent of the total turnover of the industry in terms of value. Recently released January 2005 figures show that, in terms of volume, total production is just below the million unit mark – standing at 947,000 compared with 934,000 a year ago. Passenger car tyres production in India reached 1.06 million units, while LCV tyre production for January stood at 353,000 units. The Automotive Tyre Manufacturers Association figures show that some 221,000 units were exported.

21st March 2005/by Tyrepress Editors

Tyres & Accessories Expands International Agreement

Tyres & Accessories is pleased to announce that it has extended its editorial cooperation agreement to include magazines from South Africa (Southern Africa Treads), Asia (Rubber Asia) and Australia (Australian Tyre Dealer). The enhanced group, together with existing partners, Tire Review, NeueReifenZeitung and Tyres & Accessories now have a unique partnership designed to further enhance each magazine’s ability to provide its readers with high quality global information.

16th March 2005/by Tyrepress Editors

Indian Budget: Good News For Tyre Business

The new year, or at least the new financial year, will give the Indian Tyre industry something to cheer about. That is since the government published its Central Budget for 2005/2006 financial year and the and excise and customs relief that came with it, Rubber Asia reports.

11th March 2005/by Tyrepress Editors

Apollo Tyres Cuts Prices

India’s Apollo Tyres Ltd tyres has reduced its prices by a range of 2-4.5 per cent. The announcement follows Indian finance minister, P Chidambaram’s decision to reduce excise duty on tyres from 24 to 16 per cent. After MRF and Ceat cut their prices there was speculation that other large manufacturers would also pass the savings onto consumers. “The price cut is in the range of 2-4.5 per cent across products and various categories,” a company official said, declining to go into the specifics of the price reduction.After the Budget announcements, the excise duty on truck and bus tyres for the replacement market was reduced to 16 per cent. Truck and bus tyre accounted for over 70 per cent of the turnover of the tyre industry in value terms.

4th March 2005/by Tyrepress Editors

Indian Manufacturers Deflate Tyre Prices

In India tyre prices are “tumbling” in response to the government’s decision to cut excise tax by eight per cent, local news sources have reported. According to India’s Economic Times, MRF and Ceat have announced 4 – 6 per cent price cuts, while others such as Apollo, Goodyear and Birla Tyres are likely to follow the same lead. This means that typical non-radial bus and truck tyres are 1000 rupees cheaper.

2nd March 2005/by Tyrepress Editors

A New Market is Born

When you have a tyre market that grows by ten per cent each year, as in the case of Russia, an impact on the retreading market is inevitable. Although retreads still don’t have the same status as they do in Western Europe, the eleven companies that are currently doing business in this market are looking forward to a bright future. The growing new tyre market has led to the appearance of a number of different retread companies, including Bandag, Kraiburg and Ellerbrock. Smaller companies like Elgitread from India and ITG from Italy have also shown interest in the Russian market.

1st March 2005/by Tyrepress Editors

Indian Tyre Market

Tyre dealers across India are urging the government to lower the import duty on tyres to five per cent from the existing 20 per cent. The request aims to “checkmate the activities of the domestic tyre majors,” reports Team India.

28th February 2005/by Tyrepress Editors

Manufacturers Take On the Russian Market

International News, News

If the 8th Moscow Tires & Rubber show is anything to go by, the Russian tyre market looks set to continue its development as a growth market. While the show was marked by growing interest from exhibitors and visitors, the market itself has produced some generally optimistic data and has seen perceptions of the manufacturers’ market approaches improve. All this suggests that the Russian market will continue to develop into a very interesting tyre market, with a strong growth potential.

24th February 2005/by Arno

Bridgestone UK Appoints New Marketing Director

Bridgestone UK has appointed Junichi Kumano as marketing director at Bridgestone UK. Mr Kumano has worked for Bridgestone since 1988 in countries including Singapore, India, Vietnam, and his home nation of Japan in various sales and marketing roles. His most recent position was manager of export sales at Bridgestone Japan. His new post is his first outside of Asia.

“I am honoured to have joined Bridgestone UK as it has always been an ambition of mine to work in Europe,” said Mr Kumano. “I am looking forward to working with each member of the marketing department to ensure we achieve the company’s objective of ‘steady, profitable growth’ while continuing to meet our customers’ needs.” Mr Kumano replaces Chikuma Otsuki, who is now director of sales and marketing for commercial products at Bridgestone Europe.

17th February 2005/by Tyrepress Editors

Indian Tyre Stocks Ride on Budget Hopes

Indian tyre stocks are riding high in expectance of a reduction in replacement tyre excise duty in the country’s forthcoming budget. According to sources quoted in India’s Business Standard, the expectance of a 24 per cent to 16 per cent reduction has led to renewed interest from institutional investors.

Yesterday Ceat shares rose 6.71 per cent to 75.50 rupees, Goodyear India stock went up 3.89 per cent to 70.85 rupees, MRF up 3.61 per cent to 2,733.05 rupees and JK Tyres up 15.41 per cent to close at 86.90 rupees, the magazine reports. The recent share price increase, however, is set against a background of increased raw material costs.

10th February 2005/by Tyrepress Editors

‘Money not a Consideration’ for JK Tyre

International News, Product News

Indian manufacturer JK Tyre was reportedly one of three large companies that forked out nearly £16 million in sponsorship in order to see the Jordan F1 team hire Narain Karthikeyan. In fact, “money was really not a consideration” when it comes to F1 sponsorship, the company told the AFP news agency.

9th February 2005/by Tyrepress Editors

Michelin:Apollo Venture to be Operational In 2006

The $100 million joint venture tyre between India’s Apollo Tyres and Groupe Michelin will begin in early 2006, according to the operation’s chairman and managing director. Onkar Kanwar said construction work on the radial medium truck and bus tyre plant, in Pune, India, has started and should be operational in the first quarter of next year, Tire Review reported, citing wire reports.

8th February 2005/by Tyrepress Editors

Apollo Tyres Maintains Prices

Despite the challenges presented by raw material price inflation, Apollo Tyres has no intention to increase its own prices during the current quarter, India’s Hindu Business Line has reported. “I am not looking at this quarter for price increase. There are too many things happening in the market (budget, VAT etc) that have to be factored in before taking any decision,” Neeraj Kanwar, chief operating officer (COO), told the publication.

1st February 2005/by Tyrepress Editors

Indian Tyre Industry Seeks Radial Duty Reduction

The All India Tyre Dealers’ Federation has urged the Indian finance ministry to rationalise excise duty on automotive tyres, supporting the introduction of radial tyres. In its pre-budget memorandum, the federation requested the government to fix excise duty on radial tyres at the rate of 16 per cent on heavy vehicles and at 8 per cent for tractors to boost the sales of radial tyres. The federation has also been pressuring the authorities to lower import duty on tyres.

24th January 2005/by Tyrepress Editors

Bridgestone Makes Tsunami Donation

Bridgestone is to donate 100 million yen (roughly £500,000) to disaster relief aid intended for victims of the recent Indian Ocean Tsunami. The money will be distributed through the Japan Red Cross which will allocate funds at its discretion. The company’s subsidiaries in Thailand, India, Indonesia and Malaysia will make separate contributions to local relief efforts.

Continental and Michelin have also donated to the cause.

6th January 2005/by Tyrepress Editors