{"id":7304,"date":"2018-12-28T12:29:53","date_gmt":"2018-12-28T06:59:53","guid":{"rendered":"https:\/\/www.tyremarket.com\/tyremantra\/?p=7304"},"modified":"2019-05-03T09:38:09","modified_gmt":"2019-05-03T04:08:09","slug":"local-tyre-companies-face-financial-crunch-slowed-growth","status":"publish","type":"post","link":"https:\/\/www.tyremarket.com\/tyremantra\/local-tyre-companies-face-financial-crunch-slowed-growth\/","title":{"rendered":"Local Tyre Companies Face Financial Crunch, Slowed Growth"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Due to the recent financial turmoil in Infrastructure Leasing &amp; Financial Services (IL&amp;FS) and an anticipated slowdown in the infrastructure sector because of the upcoming general elections, the domestic tyre industry is hit with some financial problems along with timid growth in sales in the last quarter. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">In India, the Medium and Heavy Commercial Vehicle (MHCV) segment accounts for the bulk of revenue for local tyre makers. During the period of April \u2013 November, the sale of MHCV tyres had increased by around 55 percent, but during the Diwali season sales plummeted. Furthermore, a weak trend this month has dampened any hopes of a recovery for high growth that was seen in the first half, industry executives explain.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Rajiv Budhraja, Director General of Automotive Tyre Manufacturers\u2019 Association (ATMA) has said that MHCV tyres mostly depend on Non-Banking Finance Company (NBFC) finance and the ongoing liquidity crunch has limited the financing options for the heavy vehicle owners.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Growth during November was lessened and could be single digit during the month of December 2018. During the period of April to November, tyre sales in the passenger car segment were slowed down due to fewer launches, while the sale of two-wheeler tyres was impacted due to an increase in insurance cost. Sales in both segments registered single-digit growth, as per Rajiv Budhraja.<\/span><\/p>\n<p style=\"text-align: center;\"><strong><a href=\"https:\/\/www.tyremarket.com\/tyremantra\/category\/news\/\" target=\"_blank\" rel=\"noopener\">READ TYRE INDUSTRY NEWS<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Due to the recent financial turmoil in Infrastructure Leasing &amp; Financial Services (IL&amp;FS) and an anticipated slowdown in the infrastructure sector because of the upcoming&#8230;<\/p>\n","protected":false},"author":4,"featured_media":2349,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[4],"tags":[1106,1105,4807,390],"class_list":["post-7304","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-atma","tag-automotive-tyre-manufacturers-association","tag-local-tyre-companies-in-india","tag-tyre-industry-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - 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When all the other kids would break downhill I would pedal harder just to go faster and enjoy the thrill. Adding to my interest for speed, I grew engrossed in the working mechanics of two wheelers thanks to my father as he is a hydraulic mechanic and would take me along with him on his repair sessions. Eventually I became familiar with the tools and basic technical concepts of two wheelers.Super sport and sport tourers are more of my liking and the sparks to these flames were ignited the first time I experienced the maddening power of a Yamaha YZF R1. I was just 14 years old at the time and got to ride as a pillion with an older acquaintance. This one short ride influenced my every decision in terms of the bikes I want to own. As of today I\u2019m 26 years old and a proud owner of a Yamaha Fz15 version 2.0 and a Kawasaki Ninja 650 2014 model having clocked a decent 30k Kms only while touring, waiting to clock 1000s more as riding makes me feel whole again after enduring the dismal routines of life.\",\"sameAs\":[\"http:\\\/\\\/tyremarket.com\"],\"url\":\"https:\\\/\\\/www.tyremarket.com\\\/tyremantra\\\/author\\\/ankit_verma\\\/\"}]}<\/script>\r\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Local Tyre Companies Face Financial Crunch, Slowed Growth - NEWS","description":"Due to the recent financial turmoil in Infrastructure Leasing & Financial Services (IL&FS) and an anticipated slowdown in the infrastructure sector...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.tyremarket.com\/tyremantra\/local-tyre-companies-face-financial-crunch-slowed-growth\/","og_locale":"en_US","og_type":"article","og_title":"Local Tyre Companies Face Financial Crunch, Slowed Growth - 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