INDIA’S tyre demand may dwindle as a result of an ongoing drought being experienced across the country, local tyre makers said. The tyre market has been facing a slowdown for the last several months with automotive companies cutting production and the climate may aggravate further the slackened market conditions, hindering local manufacturers to benefit fully from the plunging global rubber prices.
The first quarter of the year had poor market outcome and in the first part of the second quarter, no significant growth from the truck and bus tyre markets are seen. Moreover, the production stoppage in the Maruti plant has adversely affected the car tyre market, which had generated a 4% growth in the first quarter, particularly in the OEM sector. (PRA)
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