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You are here: Home1 / MRF

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Does Apollo occupy 35% of the Indian tyre market?

International News

At the start of 2022, several sources on social media shared a chart suggesting that Apollo Tyres is the biggest tyre manufacturer by market share. And what’s more, Michelin was nowhere to be seen. “Don’t believe every meme you see” is great advice for everyone, but for us “check your sources” is a basic rule of thumb. So, we had to take a closer look at those market share claims and found that, while there’s no smoke without fire and they do relate some truth, there is also a fair bit more to the story.

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Related news:

  1. Indian tyre makers investing to boost local rubber production
  2. Indian Tyremakers to Spend £670 million
  3. Sonil Ventilfabrik Hosts 27th ITTAC Meeting
  4. Lower rubber prices push up Indian tyre shares
30th January 2023/0 Comments/by Chris

Indian tyre makers investing to boost local rubber production

International News

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.

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Related news:

  1. India’s tyre makers meet government to talk rubber prices
  2. India’s competition body shares news of tyre maker cartel
  3. India: Review recommends China TBR duties for 3 more years
  4. Indian Tyremakers to Spend £670 million
10th November 2022/by Stephen

India: Review recommends China TBR duties for 3 more years

International News

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.

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Related news:

  1. It’s “high time” for anti-dumping duties, says JK Tyre & Industries’ Singhania
  2. It’s “high time” for anti-dumping duties, says JK Tyre & Industries’ Singhania
  3. India considering anti-dumping duties for Chinese truck tyres
  4. EU makes final truck tyre anti-dumping duties decision, retains fixed rates for manufacturers
29th September 2022/by Stephen

MRF: Profits halved thanks to unprecedented material cost rises

Company News, International News

Indian tyre maker MRF Limited has reported a standalone income of Rs 193.04 billion (£2.03 billion) for the financial year ending 31 March 2022, a 19.7 per cent increase on the previous year’s result. Exports were slightly up, being valued at Rs 17.79 billion (£186.80 million), compared with Rs 13.33 billion for the prior financial year. Standalone net profit, however, dropped 48.2 per cent year-on-year to Rs 6.47 billion (£67.94 million).

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Related news:

  1. Lower material costs help MRF double net quarter profits, despite Chinese competition
  2. Apollo Tyres annual net profit up 12 per cent, but European sales slide
  3. Ceat: Higher input costs squeezing margins
  4. MRF Ltd: Q2 2017 profit down 78%
10th May 2022/by Stephen

Continental included in tyre cartel investigation

Company News, International News

The Competition Commission of India (CCI) investigation into alleged cartel activities and anti-competitive behaviour doesn’t exclusively focus on local tyre makers. Stock exchange Börse Frankfurt shares news from the German Press Agency (dpa) regarding the visit of CCI officials to a site operated by Continental AG in the city of Faridabad. The statement shares that Continental is “cooperating fully with the authorities” but does not want to comment on the details of this ongoing investigation.

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Related news:

  1. Indian competition body searches tyre makers’ premises
  2. India’s tyre makers meet government to talk rubber prices
  3. India’s competition body shares news of tyre maker cartel
  4. Indian tyre stocks fall back
1st April 2022/by Stephen

Indian competition body searches tyre makers’ premises

International News

Indian stock exchange BSE sought clarification from three tyre makers after media outlet CNBC-TV18 reported yesterday that the Competition Commission of India (CCI) had visited their premises as part of its investigation into alleged competition violation and cartelisation. One of the tyre firms, Apollo Tyres Ltd., responded to the BSE query earlier today. The other two manufacturers, Ceat Ltd. and MRF Ltd., have yet to reply.

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Related news:

  1. India’s competition body shares news of tyre maker cartel
  2. Tyre stocks skyrocket in India
  3. Indian Manufacturers Feel Margin Squeeze
  4. Sonil Ventilfabrik Hosts 27th ITTAC Meeting
31st March 2022/by Stephen

Former F1 driver Karthikeyan JK Tyre’s new brand ambassador

International News

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.

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Related news:

  1. ‘Money not a Consideration’ for JK Tyre
  2. JK Tyre now 26% shareholder in Treel Mobility Solutions
  3. JK Tyre reduces pay for management in “unprecedented” times
  4. India’s ATMA appoints new chairman, vice chairman
12th August 2021/by Stephen

Global social media ranking 2020: New winner as Pirelli falls two places to third

Company News, International News
Gerd Altman; Pixabay

As Tyres & Accessories annual global social media ranking enters its seventh edition, this year there is a new winner. Last year’s champion, Pirelli, has fallen two places to third position. At the same time, in a reflection of what has taken place in the UK-only ranking, the top 10 has a new entry, with previously 10th-ranked MRF being overtaken by another large Indian tyremaker.

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Related news:

  1. Premium tyremakers continue to lead global top 20
  2. Tyre makers honoured with GM & Ford supplier awards
  3. Tyre Industry Awards 2015: Winners
  4. Autosport 2017: Where the motorsport industry and tyre trade meet
29th September 2020/by Chris

India’s ATMA appoints new chairman, vice chairman

Career Tracks

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.

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Related news:

  1. Singhania named JK Tyre’s deputy MD
  2. JK Tyre reduces pay for management in “unprecedented” times
  3. MRF Comes Top of Indian OE Satisfaction Survey
  4. MRF Tops J.D. Power India Customer Satisfaction Survey
17th March 2020/by Stephen

MRF more than doubles profit in Q1 2018-19

Company News

In spite of lower year-on-year sales, MRF Ltd. more than doubled its net profit in the three months to 30 June 2018.

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Related news:

  1. Goodyear: Q3 2018 results
  2. Continental Q3 2018 results
  3. Less optimistic: Continental revises 2019 outlook, announces preliminary Q2 results
  4. Goodyear defers dividend as volumes drop 18% in Q1 2020
13th August 2018/by Stephen

MRF displays expanded motorsport offering at Autosport

Motorsport, Product News, UK News

As a top 15 global tyre manufacturer, India’s MRF continue to operate under the radar of many in Europe, though in motorsport it has rapidly developed from the UK launch of its range at the 2016 Autosport International show into an increasingly significant position. Globally, MRF has been recognised within motorsport circles since the late 1970s, when it became the most important tyre supplier to touring cars in its domestic market, with karting, rallying and various other motorsport events to follow.

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Related news:

  1. Yokohama adds runflat to flagship range, marks 40 years of Advan
  2. Davanti unveils wave of new product, partnership news at first conference
  3. Landsail Tyres headline sponsor for Performance Car Show
  4. Toyo releases new R888R UHP road and track tyre in UK
12th January 2018/by Andrew

MRF launches Perfinza luxury tyre range

International News, Product News

MRF has launched the Perfinza range of tyres. According to the company, the new tyres have been developed to focus on ride comfort. To this end they are aimed at luxury and premium segment cars and are currently available for over 60 models on sale in India. Autocar India reports that the range retails via “all MRF exclusive outlets across the country and will be released for export markets later”.

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Related news:

  1. Indian tyre market turned over £3.8b last year, states MRF
  2. Research: Indian replacement tyre market to surpass 305 billion rupees 2014
  3. Growth to 10% expected for India’s tyre industry in 2012-13
  4. Apollo launches 100,000km tyre for Indian market
5th September 2017/by Tyrepress Editors

MRF Ltd: Q2 2017 profit down 78%

International News

Although its total income rose 2.7 per cent year-on-year in the second quarter of the year, to Rs 40.1 billion (£480.8 million), MRF Limited reported a substantial drop in profit during the three months to 30 June 2017. The India tyre maker’s profit declined 77.9 per cent to Rs 1.1 billion (£12.7 million) due to a 21.0 per cent year-on-year rise in expenses, to Rs 39.2 billion.

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Related news:

  1. MRF to double factory capacity
  2. Lower material costs help MRF double net quarter profits, despite Chinese competition
  3. MRF plant lockout ends
  4. October-December profits up 20% at MRF Ltd
7th August 2017/by Tyrepress Editors

Premium tyremakers continue to lead global top 20

Company News, International News, Premium

Global premium tyremakers continue to lead Tyres & Accessories annual ranking of the leading tyre manufacturers. Owing to the fact that all five of the top five firms have remained stable in their positions, it is difficult to view the chart very differently. Indeed, stability is the order of the day on this year’s table, with 12 of the 20 keep the same positions as last year.

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Related news:

  1. 2015 tyre manufacturer rankings: Stability at the top?
  2. Doublestar the only bidder left to buy Kumho
  3. Apollo Tyres opens €475 million greenfield Hungarian plant
  4. Linglong to become first Chinese global Top 10 car tyre manufacturer by 2019 – analyst
1st June 2017/by Tyrepress Editors

MRF Ltd announces results for year ending 31 March 2017

Company News

Indian tyre maker MRF Limited reports income of Rs 150.1 billion (£1.8 billion) for the 12 months to 31 March 2017. Net profit for the year came to Rs 14.5 billion (£174.6 million), and the company’s Board of Directors has recommended a final dividend of Rs 54 per share.

Read more

Related news:

  1. October-December profits up 20% at MRF Ltd
  2. MRF sales, profits up
  3. MRF sales steady, income up 2.3%
  4. MRF more than doubles profit in Q1 2018-19
5th May 2017/by Tyrepress Editors
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