HCV & LCV tyre production drops in first half of 2015-2016.
According to the data published by the tyre industry body Automotive Tyre Manufactures’ Association (ATMA), tyre production for both Medium & Heavy Commercial Vehicle (M&HCV) and Light Commercial Vehicle (LCV) has witnessed a drop in the first half of financial year 2015-16 (April-September).
“As automobile industry shakes off the recessionary phase with growth being witnessed in commercial and passenger vehicles segments, the domestic tyre production in some of the key segments has contracted during the current financial year,” says ATMA.
According to the auto industry body Society of Indian Automobile Manufacturers (SIAM), during the period of April- September 2015, an estimated 11,973,025 vehicles including passenger vehicles, commercial vehicles, three wheelers and two wheelers were produced in the country as against 11,835,239 in April-September 2014, registering a marginal growth of 1.16 % over the same period last year.
Even in the period of April 2015-January 2016, total vehicle production rose 1.04% to 19,841,097 units compared to 19,636,580 units in April 2014-January 2015, SIAM says.
The growth in production, though marginal, indicates the auto industry is back on track. However, numbers of tyre production, except passenger car tyres, are not as robust as vehicle production.