Tyre industry sees a smooth ride ahead on demand growth
Tyre manufacturers are buoyant on near-term prospects with a pick up in orders from original equipment makers (OEMs), stable replacement demand and a significant drop in tyre imports.The industry?s growth is pegged at 8-10 per cent during the current fiscal. Tyre segments such as passenger vehicles and two-wheelers, which are heavily dependent upon OEMs growth, are optimistic, Satish Sharma, Chairman, Automotive Tyre Manufacturers? Association (ATMA), told BusinessLine.While demand was briefly hit during Q1 of this fiscal, it remained favourable most of the time.
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