Midlands-based wholesaler GB Tyres has grown rapidly despite the challenges of lockdown and logistics during the last couple of years. Indeed, GB Tyre’s annual turnover has skyrocketed from £3 million in 2016 to full-year 2022 predictions of £50 million. Considering the company was only established in 2013, it is fair to say the business has grown to become one of the fastest growing importers and exporters of commercial vehicle tyres in Europe. Tyres & Accessories met up with commercial director Graham Hutchinson to find out more.
JK Tyre & Industries intends to significantly increase its capacity to produce passenger car tyres. During an earnings call this month, managing director Anshuman Singhania confirmed that the tyre maker’s Board of Directors has approved an Rs 5.3 billion (£54.0 million) expansion of PCR capacity at its Banmore plant. Along with a recently commissioned debottlenecking programme, this will increase PCR capacity there by 35 per cent from its current level of around 9 million tyres per annum.
Yesterday the Competition Commission of India (CCI) finally made public the news that back in 2018 it found five tyre makers and India’s tyre industry association guilty of contravening the provisions of India’s Competition Act by indulging in cartel activities in 2011 and 2012. All protagonists have been fined for their actions.
JK Tyre CFO Sanjeev Aggarwal is making margin improvement in the face of inflationary pressures a top priority, according to a recent interview with India’s Economic Times newspaper. And therefore the company will pass on raw material price increases to its customers.
Narain Karthikeyan, who in 2005 became India’s first-ever Formula 1 driver, has signed on as a JK Tyre brand ambassador. Commenting on the arrangement, Raghupati Singhania said the tyre maker was “delighted” to have Karthikeyan represent the JK Tyre brand in India.
In June we reported that Apollo Tyres is providing original equipment tyres to the Hyundai Alcazar, a compact crossover SUV that the South Korean car maker is manufacturing in and for India. JK Tyre has also announced that it is supplying OEM tyres for the Alcazar, in this instance its UX Royale.
GB Tyres has introduced a new six-year warranty on JK Tyre’s commercial vehicle tyres. The wholesaler became the exclusive UK & Ireland distributor of the Indian brand’s tyre range in January 2020. GB Tyres told Tyres & Accessories that the first year of the partnership has been “very successful” and the customer feedback it has generated has allowed it to fully assess the quality and performance of the brand under various working conditions.
Indian tyre manufacturer JK Tyre & Industries has inaugurated a new sales and marketing operation in the USA. The new arm of the company, Western Tires, Inc, is based in Houston, Texas. It will focus on sales, service and network expansion, the company stated. JK Tyre has been accelerating its global expansion efforts recently, in common with other Indian players, Apollo and MRF. With around 1.3 billion euros in turnover from tyres, JK Tyre is just outside the global top 20 manufacturers, according to the latest Tyrepress research.
Apollo Tyres shared last Friday that its senior management would take a pay cut in response to market pressures related to the coronavirus pandemic, and yesterday the team at JK Tyre & Industries announced similar measures.
The lockdown now in place across India is one of the most radical measures seen to date during the COVID-19 pandemic. As a result, tyre production has come to a standstill at plants across the country. While India’s government exempts the manufacture of “ essential commodities” from the three-week lockdown it hasn’t provided clarity as to what products it considers essential. Therefore it is unclear when tyre manufacture will recommence within the country.
Senior management at Indian tyre manufacturer JK Tyre will take a 25 per cent pay cut during the Covid-19 outbreak. Chairman and managing director Raghupati Singhania stated that the board was taking the cut “in a show of solidarity in this critical time,” noting the “unprecedented” impact of the virus on sales and profitability.
The organisation representing India’s tyre makers has a new chairman, with KM Mammen being appointed to the role. Mammen, who is chairman and managing director of MRF Ltd., is joined in the Automotive Tyre Manufacturers Association’s (ATMA) leadership team by Anshuman Singhania as vice chairman. Singhania is a director at JK Tyre & Industries Ltd.