TVS Srichakra to launch new radial tyre for high end motorcycles.
TVS Srichakra is primed for its launch of radial motorcycle tyre range by April 2016. Mr. P. Vijayarahavan, Director TVS Srichakra stated that, “the new range would be catering to the needs of the ever expanding market for the high end motorcycles.” Recently, TVS Srichakra, part of the Chennai-based US$8 billion TVS Group, also launched rear radial tyres for tractors in Europe.
Vijayaraghavan added that the growth rate of the lcoal two-wheeler tyres industry is forecasted to gain momentum in FY2016-17 after witnessing a steep decline in FY 2014-15. At present, the market size for two wheeler tyres was estimated 7.5 million units a month.
During the first three quarters of the current year the industry recorded just 1 to 1.5 per cent growth rate against a growth rate of 7.8 per cent in 2013-14 and 9.8 per cent in 2014-15. A dip in the demand for two wheelers in the rural sector has seen a decline in the growth rate this year.
Furthermore, Vijayaraghavan said that, “the need for replacement tyres was growing as average driving distances increase and with the youth travelling a lot during weekends.”