Chinese tyre imports of truck and bus radial (TBR) tyres to India has grown over 40 per cent compared to imports during the June quarter last year. This is at a time when the overall growth in the truck replacement industry during the quarter was in the high single digits.
According to the industry, Chinese imports would be in excess of 35 per cent of the TBR replacement market. Industry sources said total tyre imports in April to June during financial year 2017 was 2.46 million, as against 2.14 million during the same period last year, up by 15 per cent. TBR imports during the same period rose by 40 per cent to 4.23 lakh from 3.02 lakh and passenger car radial (PCR) imports during the three months ended June 2016 increased by 22 per cent to 1.41 million, from 1.15 million a year ago. In TBR, China’s share is around 96 per cent and in PCR the share is nearly 45 per cent. Apollo Tyres VC & MD Neeraj Kanwar had recently said that he is a bit “cautious” about Chinese imports that are coming into India and that it is a big problem that the industry faces as it is increasing month on month. He added that the government should put some duties on the imported tyres.