Financial Daily from THE HINDU group of publications
Tuesday, Apr 20, 2004
Financial Daily from THE HINDU group of publications Tuesday, Apr 20, 2004 |
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Industry & Economy
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Tyres Truck, bus tyre output slips in Feb K.R. Srivats
New Delhi , April 19 TRUCK and bus tyre production slipped in February 2004 to 8.80 lakh tyres against a production level of 9.34 lakh tyres recorded in January. Production during February 2004 was, however, much higher than 8.22 lakh tyres recorded in the corresponding period in the previous year. Truck and bus tyre production, which accounted for over 70 per cent of the turnover of domestic tyre industry, had touched 9.39 lakh tyres in December 2003. Industry sources held that there was some inventory pile-up in January, which could have led to a minor correction in production in February. Moreover, there were other factors such as lesser number of days in February 2004. "There has been no let-up in demand. The production levels in March will be the same as seen in December or January this year or may even go up a little," a senior tyre industry official said. Truck and bus tyre exports, however, continued to be on the upswing, with the volume of exports during February 2004 touching a level of two lakh units against 1.97 lakh tyres recorded in January 2004. According to the latest data released by the Automotive Tyre Manufacturers' Association (ATMA), passenger car tyre production by its member companies slipped in February 2004 to 8.52 lakh tyres against 8.86 lakh tyres in January. Passenger car tyre production by ATMA member-companies stood at 9.58 lakh tyres in December 2003.
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