Indian Vehicle Manufacturers Revise OE Tyre Offtake Projections
It appears that the current auto industry woes are by no means restricted to North America and Europe. In India, the Hindu Business Line reports that major manufacturers of medium and heavy commercial vehicles have reduced their OE tyre offtake projections by about 40 to 50 per cent during the current financial quarter.
While, says the financial daily, segment leaders Ashok Leyland nor Tata Motors have not confirmed any major change in sales, production and OE offtake outlook, senior officials from two major tyre manufacturing companies have reported that both vehicle manufacturers have indicated a downward revision in production projections in the short-term future. Sources also confirm a slowdown in retail truck-bus tyre sales. Statistics from the Society of Indian Automobile Manufacturers indicate that sales of medium and heavy commercial vehicles decreased 1.5 per cent during April-September to 115,431 units. Production fell from 129,927 to 128,711 units during the same period.