Financial Daily from THE HINDU group of publications
Sunday, Apr 06, 2003
Financial Daily from THE HINDU group of publications Sunday, Apr 06, 2003 |
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Industry & Economy
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Tyres Marketing - Marketing Research Demand for tyres seen rolling Neha Kaushik
NEW DELHI, April 4 DEMAND for passenger car tyres is set to grow at a compounded annual rate of growth (CARG) of 6.8 per cent between 2002-03 and 2011-12. According to a survey conducted by the National Council of Applied Economic Research (NCAER), the projected total demand for passenger car tyres is set to grow from 76,46,000 units in 2002-03 to 1,38,33,000 in 2011-12. The projected CARG is found to be the highest in the western region and the lowest in the eastern region. The survey also finds that the CARG for original equipment (OE) demand will be higher than that of the replacement demand for passenger car tyres. Meanwhile, boosted by growing demand for motorcycles in the country, the CARG for motorcycle tyres is estimated to be about 12.5 per cent between 2002-03 and 2011-12. The projected total demand for motorcycle tyres is projected to grow from 1,37,02,000 units in 2002-03 to 3,96,69,000 units in 2011-12. The OE demand is projected to be higher than the replacement demand for the segment. In sharp contrast, the projected CARG during the period for scooters and mopeds is much lower, at 2.9 per cent and 2.4 per cent, respectively. Total demand for scooter tyres is projected to grow from 57,09,000 units in 2002-03 to 74,11,000 units in 2011-12. Interestingly, the replacement demand for scooter tyres is projected to be higher than OE demand. Meanwhile, the total demand for light commercial vehicle (LCV) tyres is projected to grow from 18,11,000 units in 2002-03 to 25,89,000 units in 2011-12, at a CARG of 4.1 per cent. According to the survey, OE demand for LCV tyres is expected to be marginally lower than replacement demand in the period. In the medium and heavy commercial vehicles category, demand for truck tyres is projected to grow at a CARG of 5 per cent, from 50,62,000 units in 2002-03 to 78,73,000 units in 2011-12. The OE demand is found to be lesser than the replacement demand for truck tyres in the period.
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