Promoted by JK Tyre since its inception, the Indian Car of the Year (ICOTY) and Indian Motorcycle of the Year (IMOTY) awards took place for the 18th time in New Delhi on 12 January. Dr Raghupati Singhania, chairman and managing director of JK Tyre & Industries Limited, was on hand to present accolades to this year’s winners, a list of worthies that includes the KIA Carens as ‘Indian Car of the Year 2023’ and the Royal Enfield Hunter as ‘Indian Motorcycle of the Year 2023’.
According to Dr Sawar Dhanania, chairman of the Government of India’s Rubber Board, natural rubber production within the country “will not be sufficient to meet the consumer industry’s demands” in coming years. He thus sees an “urgent need” to increase the area under rubber cultivation, something that tyre makers are helping to achieve via the NE-MITRA project.
The flagship company of JK Organisation and one of the world’s 25 largest tyre manufacturers, JK Tyre has been spearheading technological developments and innovations since its inception. The company claims market leadership in India’s truck and bus radial segment and currently has capacities to produce 3.7 million TBR tyres per annum.
India’s anti-dumping duties on Chinese-made TBR tyres are scheduled to expire this month, but tyre association ATMA requested a review of these on behalf of Apollo Tyres, JK Tyre & Industries and MRF. The Directorate General of Trade Remedies published the results of this Sunset Review on 16 September, recommending the government continue charging duties for a further three years.
JK Tyre & Industries Limited has appointed Anuj Kathuria to the role of President (India). Based in Delhi, Mr Kathuria reports to Dr Raghupati Singhania, the company’s chairman and managing director, and managing director Anshuman Singhania.
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.