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Icra: Strong demand from the original equipment manufacturer (OEM) market and an expected rebound in replacements are expected to drive the growth. In FY2024, improved product mix and range-bound input costs are predicted to boost margins by 200-300 basis points.
Ratings firm Icra on Thursday said it expects a revenue growth of 7-9 per cent for tyre industry in the current fiscal. The rating agency pegs the domestic tyre demand growth at 6-8 per cent for FY2024, supported by stable growth in the replacement segment and sustained demand momentum in the OEM
ICRA's survey indicated recovering demand in select segments. 80% of 2W dealer respondents indicated that demand remains weaker than last year.
Auto dealership survey indicates favourable demand in select segments