Import Fee Increases Indian Tire's Second-Quarter Profit or Will Decline

According to news from foreign media, due to the reduced demand and the cancellation of anti-dumping duties against China and Thailand, leading to higher import costs, Indian tire suppliers' profits in the second quarter of this financial year may be adversely affected.

According to the Indian Press Trust (PTI), despite the reduction in demand, the cancellation of anti-dumping duties will have a negative impact on Indian tire suppliers. However, the recent drop in the price of rubber, the increase in demand for tire replacement, and the increase in the selling price of tires may dampen the demand. These are unfavorable factors.

The Indian Press Trust also revealed that due to the demand from OEMs and the strong growth in export volume, the Indian tire industry’s revenue in the first quarter of the fiscal year increased by 25-30% year-on-year, but in July this year, due to higher fuel prices, For reasons such as higher loan interest rates, car sales in the Indian domestic market have fallen for the first time in 30 months, and Indian tire suppliers may be affected.

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