Continental puts brakes on truck-bus radial tyre biz in India
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Tyre maker Continental on Monday said it will discontinue its truck and bus radial tyre business in India with immediate effect, as part of a strategic realignment of its product portfolio in the country.The company will fully focus on the profitable growth of its passenger car and light tuck (PLT) tyre business in the future, it said in a statement.As part of this strategic transition, the company will discontinue its Truck and Bus Radial (TBR) tyre business, it added.This includes its dedicated TBR manufacturing line at its Modipuram tyre plant in Meerut, Uttar Pradesh."The company's priority is to support its employees by providing assistance and support, such as career counselling, as well as exploring potential employment opportunities inside and outside of Continental. In addition, a voluntary retirement and separation scheme will be offered," the company said.The company, however, did not share the number of employees being impacted by this move.The company stated the realignment is aimed at ensuring the long-term viability of Continental Tires' operations in the country."In response to changing local customer demand, Continental will focus on further developing its local product portfolio and manufacturing footprint to align with future growth opportunities in the PLT tyre premium segment," it said.The decision follows a comprehensive business review aimed at safeguarding and strengthening the company's competitiveness in the Asia-Pacific region, it added.Amidst intense competition and high price sensitivity in the TBR segment, sustaining long-term value from Continental's premium offerings has been a significant challenge, it noted."Hence, Continental's Truck and Bus Radial tyre business manufacturing operations in India will be discontinued as of June 2025," it stated.The company noted that India remains a strategically important market for its tyre business.In 2024, the Hanover-headquartered Continental generated sales of 39.7 billion euro and currently employs around 1,90,000 people in 55 countries and markets.Continental's tyre division employs more than 57,000 people worldwide and has 20 production and 16 development sites.
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