Tyre makers have slashed truck and bus prices by Rs 1,500 and Rs 500 on tyres for passenger vehicles as a result of decrease in raw material prices. In December, prices were reduced by 4%. This second price cut by major players like Apollo, JK tyre, MRF Birla and Ceat leads to a further drop in 3-5% price for the consumer.

 

Prices of raw materials like natural rubber, crude oil, synthetic rubber, carbon black, nylon-tyre cord and rubber chemicals have reduced sharply thereby leading to a fall in tyre prices.

 

Major tyre manufacturers are hoping for resurgence in the slow market after the price slash. Chinese tyres were sold at a discount of 10% to 15%. The price cuts in Indian tyres are also due to the competition that the domestic markets faced earlier.