First of all the negative growth had contracted sharply in the second quarter. Pandemic had brought the economy to a grinding halt in the first quarter and the economy collapsed by 24%, arguably the worst contraction in modern history. The contraction eased to 7.5% in the second quarter much less than the 9-11% projected by rating agencies and the analysts. More than that, several economic indicators pointed towards a turnaround. Be it GST collections, sales of vehicles, industrial output or generation of e-way bills - all regained lost ground in the months of Oct and Nov’20, and some even surpassed the pre-pandemic levels.
It is also evident that corporate India has responded favourably to the Government’s stimulus measures. During the second quarter, sequential recovery from the first one was visible across sectors as the lockdown restrictions eased. Some sectors were even able to bounce back to pre-COVID levels and post revenue growth on an annual basis, confirms an ICRA report.
In this context, the performance of tyre industry offers interesting insights. As the process of unlock commenced and economic activities gathered momentum, tyre industry, though badly badgered during the lockdown, worked incessantly, braving odds, to catalyse the economic momentum. Tyre production in India was up 17% in Sept’20 in comparison to Sept’19 levels. The production of Truck & Bus tyres, often celebrated as the wheels of the economy went up by significant 39% in Sept against the year ago period.
For years, the tyre industry has been asking for policy enablers to enhance exports from the country. Government has shown political will and has taken some far-reaching policy measures in aid of the industry having appreciated the pain areas coming in the way of its full blossoming.
The industry has responded to these policy initiatives in equal measure. Notwithstanding disruption in international trade following COVID-19 pandemic and protectionist stance being adopted by countries, Indian tyre industry managed to touch a figure of nearly Rs 6000 crore in exports in the first half of the ongoing fiscal year. Impressive export performance in the second quarter compensated for the sharp drop of 23% in tyre exports experienced in Q1 bringing the overall decline down to 7% in the first half of current fiscal.
Having fallen to a low of 26 thousand units of exports in the month of April this year in view of the lockdown, Truck & Bus Radial (TBR) tyre exports have been on their way up and reached 1.85 lakh units in Sept, the highest ever monthly exports in the category so far.
The recovery in Passenger Car Radial tyres has been rather sterling. From 9 thousand units of exports in April, PCR tyre exports touched a figure of nearly 2 lakh tyres in Sept, again a historic high for the category. The scenario is no different in case of Motorcycle tyre exports. The month of Sept recorded exports of over 2.5 lakh units, a feat rarely achieved so far.
Farm/ Agri tyre exports from India have witnessed an impressive double digit growth in the first half of FY21 notwithstanding the lockdown. The month of Sept'20 witnessed exports of 3.9 lakh units of Agri tyres, one of the highest marks ever achieved. Moreover, the tyre exports from India have been to some of the discerning markets in the world. US and Germany are the dominant markets for Indian manufactured Farm/Agri tyres accounting for over 30% share. The US has emerged as a major recipient of TBR tyres from India. More than one-third of TBR tyre exports from India were destined for the US during the first half of the current fiscal year..
Tyre industry may provide just one of the glimpses of India’s manufacturing prowess and its ability to rise to the occasion. Recently speaking at a conclave of country's management leaders organised by All India Management Association, RC Bhargava, Maruti Suzuki India Chairman, emphatically stated that India has the capability to become a lower cost producer than China if the industry and the government work together. He rightly argued that the only objective of government policies has to be to increase the competitiveness of Indian industry..
It is hoped that the process of revival of the economy will gather momentum despite the lurking fear of disruptions caused by COVID-19. Here is wishing everyone a very Happy and Safe 2021 .May the trials and tribulations cease in the New Year.
Toyo Tire Shareholder Change Follows Mitsubishi Exit
- By TT News
- August 13, 2026
Toyo Tire Corporation said Mitsubishi Corporation has ceased to be a major shareholder after tendering its entire holding through a treasury share buyback, ending its status as the company’s largest shareholder.
The change took effect on 10th August , 2026, following Toyo Tire’s acquisition of its own shares through off-auction trading (ToSTNeT-3). Mitsubishi tendered all its shares, excluding less than one unit, as part of the transaction.
As a result, Mitsubishi is no longer classified as a major shareholder or associated company of Toyo Tire, the company said.
Before the transaction, Mitsubishi held 30,822,206 shares, equivalent to 20.07 percent of total voting rights, and ranked as the largest shareholder. Following the change, its holding has effectively been reduced to zero.
The move follows Toyo Tire’s earlier announcement on August 7, 2026 regarding the termination of its capital and business alliance with Mitsubishi, alongside plans to repurchase its own shares.
Toyo Tire said the change would have no impact on its consolidated financial results.
Linglong Becomes First Chinese Tyre Maker To Join GDSO As Full Member
- By TT News
- August 13, 2026
Linglong Tire has become the first Chinese tyre manufacturer to join the Global Data Service Organization (GDSO) as a full member, marking a step in the industry’s efforts to standardise and exchange tyre-related data globally.
The company joins the non-profit body as its fourteenth member. GDSO was established in January 2022 by Bridgestone, Continental, Goodyear, Michelin and Pirelli to facilitate the digital exchange of tyre data and develop common standards across the sector.
Moh Wahi, Head Of Truck And Bus Tyre Development at Linglong Europe, said: "By joining the GDSO as a Full Member and providing reliable data, we want to be the first Chinese tyre manufacturer to make a positive contribution to the further development of the tire industry and set new standards for the efficient processing of tire data in the digital age."
Riccardo Giovannotti, Secretary General of GDSO, said: "With Linglong Tire as a Full Member, GDSO is gaining one of the leading Chinese tire companies which is committed to digitalization and sustainability in the industry. Together, we will further make progress in developing standards for data processing and future-oriented solutions."
Shandong Linglong Tire Co., Ltd., founded in 1975, operates seven research and development centres globally and employs almost 20,000 people. The company runs nearly 200,000 sales outlets and exports products to 175 countries.
It supplies tyres to more than 200 production bases for over 60 automakers and has manufacturing facilities across China, Thailand and Serbia, with plans to expand further overseas.
TyreSafe And Sussex Police Launch Digital Tyre Safety Tool For Frontline Officers
- By TT News
- August 12, 2026
TyreSafe, UK’s charity dedicated to raising tyre safety awareness, has joined forces with Sussex Police’s Road Safety Team to introduce a pioneering digital reference tool for frontline officers. The initiative equips police with immediate, device-accessible tyre safety data during roadside stops.
Developed as a local pilot, the application enables consistent vehicle examinations and improves driver communication regarding tyre dangers. It offers specific checklists for diverse vehicle categories, including motorcycles, cars, heavy goods vehicles, light commercial vans and towed trailers. The system further incorporates guidance on part-worn tyres, common queries and educational talking points.
Following its Sussex trial, the programme holds potential for nationwide adoption across UK police forces. This deployment underscores Sussex Police’s dedication to roadway innovation and reinforces the essential contribution of proper tyre maintenance to overall public safety.
Stuart Lovatt, TyreSafe Chair, said, “This partnership with Sussex Police is a landmark moment for tyre safety enforcement and education. By putting reliable, accessible tyre safety guidance directly into the hands of frontline officers, we can ensure safer vehicles on our roads and help prevent avoidable collisions and breakdowns. Sussex is leading the way, and we hope this model will soon be adopted nationally.”
Superintendent Jo Grantham, Head of Roads Policing, Sussex Police, said, “Our officers are committed to keeping road users safe, and having instant access to this tyre safety resource makes a real difference on the ground. It supports enforcement while also giving us the tools to educate drivers more effectively. We’re proud to be working with TyreSafe on this project and to be the first police force in the country to pilot it.”
Towing Breakdowns Reach Record High As Vehicle Fleet Ages, Says UKTSA
- By TT News
- August 12, 2026
The UK Towing Safety Alliance (UKTSA) has published a comprehensive four-year analysis of incident data from National Highways’ Strategic Road Network, covering 2022 to 2025. The findings reveal a 23 percent rise in total towing-related incidents, driven primarily by a maintenance crisis affecting utility and commercial trailers. While traffic collisions involving towed vehicles decreased by 17 percent, mechanical breakdowns now constitute 77 percent of all towing-related incidents, highlighting vehicle and trailer condition as the sector's foremost challenge.
The data coincides with SMMT Motorparc 2025 figures showing Britain's vehicle fleet at its oldest recorded level, with average car age reaching 9.7 years. The summer harvest season has also arrived, bringing agricultural trailers back to roads after months of disuse. NFU Mutual research indicates collisions involving agricultural vehicles are 56 percent more likely between May and September, reinforcing the need for pre-journey roadworthiness checks.
Utility and agricultural trailers now account for nearly half of all towing-related callouts, surpassing 3,000 incidents in 2025. Regionally, the North West has overtaken the South East as the most incident-prone area, with trailer failures surging 60 percent since 2022, while the North East recorded a 55 percent increase. A growing divide exists between leisure and commercial towing sectors.
Leisure sector improvements, including fewer horsebox incidents and regional caravan reductions, suggest awareness campaigns are yielding positive results. However, utility trailer failures continue climbing, indicating maintenance standards across commercial and domestic sectors require greater attention. Regular servicing, correct loading and proper coupling remain essential to prevent avoidable incidents.
For working trailers, summer represents peak operational period, with agricultural and utility trailers seeing intensive use while rural roads become busier with tourists and cyclists. The Alliance emphasises that trailers stored for extended periods require thorough inspections before returning to service.
The UKTSA urges all towers to perform three essential checks covering tyres, load and connection before every journey. Tyres must be inspected for pressure, tread and deterioration; loads correctly distributed and couplings and electrical connections verified. The Alliance will place ‘The Working Trailer’ at the centre of safety campaigns, collaborating with industry partners to boost maintenance awareness and reduce preventable breakdowns across the Strategic Road Network.
A spokesperson for the UK Towing Safety Alliance said, “It’s encouraging to see fewer collisions involving towing vehicles, which suggests that drivers are becoming more aware of safe towing practices. However, that progress is being undermined by a growing number of preventable mechanical failures. The challenge is no longer simply about how people tow – it’s increasingly about what they’re towing and the condition it’s in. As both tow vehicles and trailers get older, regular maintenance has never been more important.”
Stuart Lovatt, Chair of TyreSafe, said, “Harvest season places extra demands on both vehicles and trailers, particularly those that may only be used for a few months each year. One of the most common issues we see is tyres that appear to have plenty of tread but have deteriorated through age, weathering or prolonged storage. Whether you’re towing a livestock trailer, plant trailer, horsebox or caravan, tyres should always be inspected for correct pressure, damage, cracking and signs of ageing before every journey. A few minutes spent carrying out these checks can prevent breakdowns and significantly improve safety for everyone using our roads.”
Sarah Smithurst MBE, COO, National Trailer & Towing Association (NTTA), said, “Across the NTTA network, we’re seeing a noticeable increase in enquiries from people looking to refurbish older trailers or source second-hand trailers, including imported models, as a more affordable alternative to buying new. While extending the life of a trailer is often entirely appropriate, it’s essential that owners understand that trailers are not maintenance-free. Many have been in service for years, sometimes decades, and components naturally deteriorate over time, even if the trailer has seen relatively little use. Every trailer should be thoroughly inspected before it returns to the road, with particular attention paid to tyres, brakes, bearings, couplings and lighting. Investing in regular servicing and maintenance is far less costly than experiencing a breakdown – or worse, being involved in an incident. The NTTA continues to help and advice new and old trailer users about safety and many are asking for help when towing, especially the reversing aspect of a trailer, now the B&E test was withdrawn. We are also seeing more trailers being repatriated from North America and Europe rather than purchasing new in the UK.”
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