OEM demand turns a strong driver for tyre makers

Increase in automobile sales is boosting the growth of the tyre industry. In the past, progress used to be mostly driven by the replacement market demand, which still accounts for a lion’s share of total tyre sales. However, share of sales to automobile makers, also called Original Equipment Manufacturer (OEM) sales, is moving up for tyre makers. “With the bullishness in the economy and the auto industry, the tyre industry was also on an upward march (in FY18). Our own estimates indicate that the growth has been led by the Original Equipment (OE) sales more than by the sales .....

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