Tyre makers in India are caving to public demand by slashing the prices of tyres. The move — the first in one and a half years – saw the manufacturers reducing the prices of their tyres by 4%. This includes companies such as Madras Rubber Factory (MRF), CEAT and Apollo Tyres.
“As major input costs of rubber and crude oil prices have declined, there was mounting pressure from fleet operators to bring down the prices of our products. This played a pivotal role in recent price correction,” said Arnab Banerjee, executive director-operations, at CEAT, said.