MRF Says This Year is Tumultuous for Automobile Industry – TyreCafe

by Editor News


automobile-industry

One of the leading tyre manufacturers in India MRF LTD stated that the present year can be a tumultuous one for the Automobile Industry of the country with special focus on the transition in fuel norms from BS-IV to BS-VI. This statement was given by one of the top officials of the company. In the annual report of the company, the chairman and managing director of MRF LTD K.M Mammen quoted “The uncertainty is further compounded by lower consumer sentiments resulting in inventory build-up, and all original equipment manufacturers aligning production in line with demand".

He further laid his emphasis on fast and substantial development of infrastructure and also the statistical growth of the economy in the Union budget presented by the finance minister Nirmala Sitharaman, stating the economy to be $5trillion by 2025 and said that this could help the road transport sector. This should augur well for the tyre industry.

He said that the small turbulence in the tyre industry has to be endured by the companies as they are short term problems. India is one of the most preferred emerging economies in the world in terms of investment. The coming six months will be very unstable for the industry due to the transition to BS-VI norms. The tyre industry will have to align in accordance with the needs.

He also welcomed the incentive offers for the electric vehicle as it is the new emerging industry and will have a long term impact in the country and is also the need of the hour. The scarcity of credit funds will be challenging for the industry in the nearby time. This statement was also addressed in the budget. This transition will benefit in the maintenance of emission standards to regulate the pollutant level in the air and also the combustion. It will also lower the evaporation rate of the fuel when the vehicle is parked.

 
 

Latest News

Royal Enfield to Increase Supply to International Markets - TyreCafe

With an aim to make Royal Enfield a global brand, Eicher Motors is planning to expand its ...

Read More

Domestic Tyre Industry Suffers Due to Cut in Auto Segment – TyreCafe

The dip in the sales of the Indian automobile sector is affecting the Domestic Tyre Industry ...

Read More

Tata Motors to Remove 140 Models In a Shift to BS-VI Models - TyreCafe

Tata Motors would have put in Rs 2,500 crore in BS-VI technology, which is its largest ...

Read More

Maruti Suzuki Diesel Models Sales Increased This Month - TyreCafe

Maruti Suzuki Diesel Models are witnessing a rise in the demand, compelling the ...

Read More

ATMA And Indian Oil Starts Tyre Safety Programme In India – TyreCafe

Automotive Tyre Manufacturers Association has tied up with Indian Oil on Friday, to raise ...

Read More

India's October Diesel Demand Falls The Most In Lat 3 Years – TyreCafe

India's Diesel Demand in the month of October fell is at its lowest in nearly three years, ...

Read More

Ultraviolette F77 Electric Motorcycle Price And Features - TyreCafe

The Ultraviolette F77 Electric Motorcycle comes equipped with three modular lithium-ion battery ...

Read More

Fleeca India And CEERI To Make Tyre Pressure Monitoring System - TyreCafe

In this venture between CEERI and Fleeca India, an MoU has been signed where Fleeca will use the ...

Read More

The Slowdown In Auto Sector Has Affected The Scrap Market - TyreCafe

The slowdown in the auto sector has not only hit small manufacturing units and job work ...

Read More

MG Motor Electric Vehicle To Be Introduced In 3 To 4 Years - TyreCafe

MG Motor India is planning to bring in an affordable MG Motor Electric Vehicle in three to ...

Read More
See All

tools