The 18th edition of Indian Car of the Year (ICOTY) and Indian Motorcycle of the Year (IMOTY), promoted by JK Tyre since its inception, concluded in New Delhi. The awards ceremony was attended by leading businessmen, automobile fanatics and visionaries.

The awards were presented by Dr Raghupati Singhania, Chairman and Managing Director, JK Tyre & Industries Limited, along with Dhruv Behl, Chairman, ICOTY 2023; Bertrand Dsouza, Chairman, IMOTY 2023 and other jury members. Steered by a group of veteran and eminent jury members, the entries were judged on the basis pf multiple customer-centric criteria, such as vehicle price, fuel efficiency, styling, comfort, safety, performance, practicality, technical innovation, value for money and suitability for Indian driving conditions, while deciding on the winner and conferring the awards, claims JK Tyre.

Recognised for its speed, mileage and strong performance, KIA Carens was adjudged the ‘Indian Car of the Year 2023’, claims JK Tyre, while Royal Enfield Hunter was awarded the ‘Indian Motorcycle of the Year 2023’. Catering to the increasing popularity, acceptance and availability of a vast range from various manufacturers of the premium car category in the Indian market, the ICOTY jury instituted ‘Premium Car Award’ under the ICOTY aegis in 2019. According to JK Tyre, Mercedes EQS 580 won the Premium Car Award 2023. With the growing popularity of electric vehicles and strong initiatives undertaken by the government, the jury of ICOTY introduced the Green Car Award in 2021, with an objective to recognise the contribution of manufacturers towards the future of mobility. KIA EV6 was awarded the Green Car Award 2023, states JK Tyre.

Addressing the ceremony, Dr Singhania said, “I would like to congratulate all the winners for making the best in the segment and honouring the excellence in the automotive industry. ICOTY and IMOTY are the most integral part of the Indian auto industry as they bring innovation to the industry. The foundation of JK Tyre stands for innovation, development, growth, technology and transparency, and these awards are the testimony of brilliance. I am sure it has been a rewarding and successful journey for everyone and this will continue to be so for years ahead. These awards motivate us all to come together and make the Indian auto industry renowned globally.”

On winning the Indian Car of the Year (ICOTY) and Green Car Award 2023, Tae-Jin Park, Managing Director and CEO, Kia India, said, “It’s a proud moment for all of us at the Kia family. We are absolutely elated to be awarded with not one but two prestigious ICOTY honours – Kia Carens won the coveted ‘Indian Car of the Year’ and our flagship EV, the EV6, won the laurel as ICOTY ‘Green Car of the Year’ award for 2023.We are thankful to the esteemed ICOTY jury members for this recognition. We would also like to thank the sponsors, JK Tyre, for their commitment to helping recognise the best from automobiles year on year. This is a well-deserved recognition for brand Kia and speaks volumes for our technological prowess, capabilities and understanding of the Indian market. It is a true reflection of our successful journey in India and a great motivation for us to keep working and contributing towards an inspiring tomorrow.”

On winning the Indian Motorcycle of the Year Award, Siddhartha Lal, Managing Director and CEO, Eicher Motors, said, “This is our third award in five years, and we are delighted to have won this. We thank the jury and JK Tyre for recognising us. Making motorcycles, spending time with riders and most importantly, riding them ourselves over the years, we really understood what it takes to make a lovely motorcycle for people who love motorcycling. The Hunter is our most accessible motorcycle in this range, and we are very happy at the love it has received.”

On winning the Premium Car Award 2023, Santosh Iyer, Managing Director, Mercedes-Benz India, said, “The Made in India EQS 580 is a benchmark for sustainable luxury motoring. The very fact that it’s India’s first locally manufactured luxury EV also highlights the global competencies of our colleagues producing this car at Mercedes-Benz India. We are delighted that our customers’ preferred choice for the most advanced luxury EV in India is also adjudged as the luxury car of the year at ICOTY.”

Congratulating the ICOTY award winners, Behl said, “ICOTY has grown to become the most coveted award in India, as the leading experts in the automotive media all come together to pick the absolute best in the industry. We assess which vehicles have the most impact and which are the most suitable for the Indian market. The KiaCarens, Kia EV6 and Mercedes-Benz EQS 580 are each cutting-edge and truly put the Indian customer in the driver’s seat.”

Sharing his thoughts, Dsouza said, “In 2023, Indian motorcycles were oddly contested, it was a very tough competition. What is interesting to see is that most of the contenders were not entirely meant for the commuter segment, and this proves that motorcycling in India has matured – niche segment, niche purposes for a very niche enthusiastic audience, that’s what has defined IMOTY 2023.”

Comments (0)

ADD COMMENT

Link Copied!

MAXAM is set to showcase its advanced agricultural tyre solutions at Agritechnica 2025 in Hannover from 9 to 15 November. Visitors can find the company at Stand A04 in Hall 20, where the exhibition theme ‘More Pull. Less Fuel’ will guide the presentation. This philosophy underscores the company's dedication to developing tyres that enhance operational efficiency and contribute to more sustainable farming practices by reducing fuel consumption and soil compaction. The event provides a significant opportunity for MAXAM to demonstrate its commitment to innovation and the expansion of its product portfolio.

On display will be a range of DLG-awarded tyres, including robust models for high-horsepower tractors and versatile options for specialised implements, illustrating the company's technical breadth. Beyond presenting products, MAXAM considers the trade fair a vital meeting point for industry collaboration. It serves as a platform for direct engagement with farmers, partners and machine manufacturers, whose feedback provides invaluable, real-world insights that directly influence the future direction of product and service development, ensuring they remain precisely aligned with evolving market needs.

As a part of SAILUN Group, one of the 10 largest tyre manufacturers in the world, MAXAM leverages its extensive international presence and collaborative research initiatives to drive continuous innovation. The company is dedicated to advancing agricultural tyre technology, creating sophisticated solutions that directly address the evolving demands of modern farming. This focus encompasses critical areas such as enhanced sustainability, improved cost-efficiency and superior field performance.

Comments (0)

ADD COMMENT

Link Copied!

Radar Tires has expanded its US distribution network with the opening of two new domestic distribution centres in Knoxville, Tennessee, and Parkesburg, Pennsylvania, as part of efforts to strengthen product accessibility and service reliability for its growing customer base.

The expansion increases the brand’s domestic distribution centres from one to three. It aims to improve delivery efficiency and inventory availability across key regions, particularly in the Southeast and Northeast of the United States.

“Stocking domestic tyre inventory is a key part of the Radar strategy going forward,” said Rob Montasser, Vice President of Sales for Radar Tires, USA. “It ensures our distributors and retailers have easy access to the products that their customers need, without the long lead times or supply chain uncertainty. These new locations allow us to be faster, more flexible, and more dependable.”

The company said the additional facilities will reduce delivery times and ensure that its core product range remains readily available to meet rising market demand.

With existing operations in Texas, the addition of centres in Tennessee and Pennsylvania underscores Radar Tires’ long-term strategy to enhance supply chain responsiveness and reinforce its position as one of the most customer-focused distribution networks in the tyre industry.

Comments (0)

ADD COMMENT

Link Copied!

Cabot Corporation reported lower quarterly earnings, as weaker demand in its Reinforcement Materials segment and softer volumes in Performance Chemicals weighed on results. However, the company ended fiscal 2025 with solid cash flow and continued shareholder returns.

For the fourth quarter ended 30 September, Cabot posted net income of USD 43 million, or USD 0.79 per share, compared with USD 137 million, or USD 2.43 per share, in the same period a year earlier.

Full-year diluted earnings per share were USD 6.02, while adjusted earnings per share rose 3 percent year-on-year to USD 7.25.

“I am very pleased with another strong year of Adjusted EPS growth where we achieved USD 7.25, up 3 percent year over year, in a year with a challenging macroeconomic backdrop,” said Sean Keohane, Cabot’s President and Chief Executive Officer. “This performance was driven by higher EBIT in our Performance Chemicals segment, which increased 18 percent year over year, partially offset by EBIT in our Reinforcement Materials segment, which declined 5 percent.”

Cabot’s revenue for the quarter fell to USD 899 million from USD 1.0 billion a year earlier, while full-year sales declined to USD 3.7 billion from USD 4.0 billion.

The Boston-based speciality chemicals manufacturer said fourth-quarter cash flow from operations totalled USD 219 million, enabling USD 64 million in shareholder returns through dividends and share buybacks. For the full fiscal year, Cabot generated USD 665 million in operating cash flow, funding USD 274 million in capital investments, USD 96 million in dividend payments and USD 168 million in share repurchases.

Keohane said the company’s balance sheet remained strong, with a net debt-to-EBITDA ratio of 1.2 times, providing flexibility to invest in growth while continuing to return capital to shareholders.

The company’s Reinforcement Materials segment reported a USD 4 million decline in EBIT from the prior-year quarter, reflecting lower volumes in the Americas and Asia Pacific, partly offset by cost efficiencies. Global volumes fell 5 percent, including a 7 percent drop in the Americas, where lower tyre production by customers was attributed to increased Asian tyre imports.

Performance Chemicals EBIT decreased USD 2 million year-over-year, mainly due to a 5 percent drop in volumes led by weaker demand in Europe, particularly from construction-related applications.

Cabot ended the quarter with  percent 258 million in cash and spent percent 64 million on capital expenditures. The company recorded a 55 percent effective tax rate in the fourth quarter and an operating tax rate of 27 percent for fiscal 2025.

Looking ahead, Keohane cautioned that market conditions remain challenging, particularly in the Reinforcement Materials sector. “We do not yet see signs of improvement in the external environment, particularly as it relates to regional demand trends in Reinforcement Materials due to the impact of elevated Asian tire imports into western regions,” he said.

The company anticipates improvement in Performance Chemicals, led by growth in battery materials and infrastructure-related applications, while maintaining strong cash flow to support investment and shareholder returns.

“While market conditions remain challenging, we continue to execute on our foundation of commercial and operational excellence, and we remain focused on managing costs, strengthening operations, and positioning the company for long-term growth,” Keohane said.

In fiscal 2025, Cabot also announced an agreement to acquire Bridgestone Corporation’s reinforcing carbons plant in Mexico and released its 2024 Sustainability Report, noting it had achieved 11 of its 15 sustainability goals ahead of schedule and established new 2030 targets.

Comments (0)

ADD COMMENT

Link Copied!

The German Rubber Industry Association (wdk) has responded positively to the 'Berlin Declaration’, characterising it as an essential and long-awaited political signal. From the wdk's perspective, the declaration represents a crucial commitment from the ‘Friends of Industry’ to bolster the manufacturing sector, which is fundamental to preserving Germany's industrial core and the multitude of upstream and downstream jobs it sustains. The association's Managing Director, Boris Engelhardt, emphasised that this initiative correctly identifies the urgent need for Europe to recognise and champion industrial value creation.

The wdk finds it particularly significant that the impetus for this declaration originated from a coalition of 17 member states, a fact that underscores a shared political priority independent of the EU Commission's agenda. While the declaration's broad framework allows for various interpretations, the wdk has identified the reduction of bureaucratic burdens as its paramount objective. On this specific point, the association reports being in complete alignment with Federal Minister for Economic Affairs Katherina Reiche. The wdk now asserts that the true measure of the declaration's success will lie in its translation from a political statement into actionable policy, urging the addressed EU institutions to move beyond acknowledgment and proceed with swift and decisive implementation.

Comments (0)

ADD COMMENT

Link Copied!