India
Bridgestone and MRF have tied for first place in JD Power’s latest India Original Equipment Tire Customer Satisfaction Index (TCSI) Study. However, while they both ranked first in overall customer satisfaction, scoring 881. Bridgestone performed well in terms of ride (883) and MRF performed particularly well in appearance (884). Apollo came third, with JK Tyre fourth and Goodyear in fifth.
JK Tyre & Industries Ltd reports that the acquisition of tyre, tube and flap manufacturer Cavendish Industries Ltd. was completed on 13 April, and the company is thus now a JK Tyre subsidiary. The Indian tyre maker acquired 64 per cent of all equity shares in Cavendish for Rs 10 each; the remaining equity shares in Cavendish have been acquired by associate and group companies of JK Tyre.
The first phase of the greenfield factory project that Ceat Ltd began in late 2014 is now complete, the tyre maker reports. The Buti Bori plant, near Nagpur in India’s Maharashtra state, was commissioned on 28 March and has the capacity to produce 15 tonnes of two and three-wheeler tyres a day – some 40,500 pieces.
The Tyrexpo India tyre trade exhibition, first held as a biennial show in 2011, will now be held annually – from this year, the established event in Chennai is being supplemented by one in New Delhi.
Yokohama has denied press reports that it is aiming to buy a majority of Alliance Tire Group (ATG). Acquisition talk had suggested private equity firm Kohlberg Kravis Roberts (KKR) was in talks to sell what would amount to a majority shareholding of its stake in ATG (which is currently 90 per cent) to Yokohama.
Kumho has designed a “futuristic” all-terrain tyre for the innovative Hyundai Carlino compact SUV unveiled at Auto Expo 2016 in Delhi. The tyre, designed in collaboration with the South Korean car manufacturer, has been engineered to adapt to all manner of surfaces while maintaining optimum grip. With strong on- and off-road performance, the Kumho-shod Carlino […]
Indian tyre maker Ceat Ltd reports it has given its wholly-owned Ceat Specialty Tyres Ltd (CTSL) subsidiary land in Ambarnath, near the city of Mumbai, for the purpose of erecting a new greenfield radial OTR tyre factory on the site, and has further aided the project through an Rs 250 million (£2.6 million) equity investment in CTSL in the October to December 2015 quarter. Altogether, CTSL will invest Rs 3.3 billion (£33.8 million) to build a plant with an initial daily capacity of 40 tonnes.
The global profile of sport in India has been growing with the country’s economic prosperity, signified primarily by the wealth and interest of cricket’s Indian Premier League. Now the potential for it to become a significant global player in motorsport has been trumpeted by tyre manufacturer – and sporting equipment supplier – MRF. The manufacturer suggests a podium from the final races of the MRF Challenge series at Chennai symbolises India’s emergence; on the top step is Pietro Fittipaldi (grandson of Emerson), 2nd is Harrison Newey (son of Adrian), and 3rd is Mick Schumacher (son of Michael).
Indian financial daily The Economic Times reports that American private equity firm KKR & Co. L.P. has begun initial talks that may result in the sale of its 90 per cent share in off-highway tyre specialist Alliance Tire Group. The publication names Sumitomo, Continental and Michelin as potential buyers, however it notes that no confirmation of these firms’ interest has been given.
TVS Srichakra Limited is set to launch a radial motorcycle tyre range in April. Speaking to the local The Hindu newspaper, company director P. Vijayaraghavan said the new range would “initially cater to the needs of the expanding high-end motorcycles market”.
TVS Srichakra, part of the Chennai-based US$8 billion TVS Group, recently launched tractor rear radial tyres in Europe.
Auto Expo 2016 will open to the public later this week. The exhibition, which takes place in Greater Noida, near New Delhi, is said to be Asia’s largest and the world’s second-largest motor show, and attracted more than 700,000 visitors last time round. Yokohama Rubber has confirmed its presence there as an exhibitor.
India’s largest tyre maker, MRF Ltd, has announced its unaudited standalone results for the quarter ending 31 December 2015. The company reports total income of Rs 33786.3 million (£349.9 million) for the period, 2.9 per cent less than the October to December 2014 quarter. Net profit stood at Rs 3881.5 million (£40.2 million) for the quarter, 20.0 per cent higher than a year earlier.
Continental has announced plans to start production of ABS and ESC units in India in 2016. A new assembly line for ABS and ESC for passenger cars and later ABS for two-wheelers will be located in the existing Continental Automotive Brake Systems plant in Gurgaon, Haryana. Local production of the Electronic Control Unit (ECU) is planned for 2018 in Bangalore.
Indian industry association the Automotive Tyre Manufacturers’ Association (ATMA) reports that exports of tyres from India decreased in the first half of the country’s current financial year, the period between April and September 2015. Exports of passenger car tyres produced in India fell 22 per cent year-on-year to 1.08 million units, while medium and heavy commercial vehicle tyre exports declined nine per cent to 968,000 pieces.
Tyrelessly, an online tyre recycling business launched by 16 year-old Delhi resident Anubhav Wadhwa, aims to collect tyres for free and generate revenue from pyrolysis and online advertising. The company, which was founded in December 2015, launched its web platform on 8 January 2016.
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