Continental puts brakes on truck-bus radial tyre biz in India
Live Events
(You can now subscribe to our
(You can now subscribe to our Economic Times WhatsApp channel
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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
2 hours ago
- Time of India
Nintendo Switch 2: Is new gaming console available in market? Details here
High Demand Global Launch Strategy Nintendo Expectations Live Events Tariff Policies FAQs (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Nintendo released its new gaming console, the Switch 2, on Thursday. The console follows the success of the original Switch and is now available in major global markets. The launch brought strong demand, long queues and quick sell-outs in several launched the Switch 2 with strong consumer interest. In Japan, 2.2 million people entered a lottery to buy the console. This number was more than the available supply. Demand in Japan remains high, and many stores require pre-orders. In China, online retailer received 400,000 reservations. In the US, retailers like Best Buy and Walmart opened stores at midnight. Walmart's website showed the console as sold Buy opened select stores at midnight. Walmart launched sales online and in stores. In the UK, Amazon showed delivery available the next day. Other stores, such as Currys and Smyths, had stock. Retailers are working to keep up with customer demand through restocking plans to sell 15 million units of the Switch 2 by March 2026. Analysts believe the company could exceed this number. Omdia expects 14.4 million units sold in 2025. Kantan Games forecasts 20 million units sold in the first year. Analysts note strong launch day interest and believe Nintendo can meet demand with steady supply over Switch 2 is priced at $449 in the US. Nintendo has paused decisions on raising prices due to tariff uncertainty. US tariffs could affect future pricing. Nintendo of America President Doug Bowser said the current price should hold but future hikes are possible depending on policy Switch 2 is facing shortages due to high global demand and limited launch-day stock, especially in Japan, China, and the has not confirmed any increase, but future tariffs might cause a price change depending on government trade policies.
Time of India
2 hours ago
- Time of India
Donald Trump, Xi Jinping hold call: Did the Chinese President get the better of the American President on tariffs?
Did China call out American bluff? Live Events Why Trump directly deals with Xi on Tariffs FAQs (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel U.S. President Donald Trump and China's President Xi Jinping had a phone call on Thursday to talk about tariffs. Both leaders agreed to continue talks between their countries to solve tariff problems that are affecting the global economy, as per posted online saying, 'There should no longer be any questions respecting the complexity of Rare Earth products' and added that the teams would meet soon. Xi invited Trump to visit China again, and Trump said thank asked the U.S. to look at the progress made and remove the negative actions taken against China. The call came during growing tension over 'rare earth' minerals, which are important for making tech and defense May 12, the U.S. and China had made a 90-day deal to reduce some of the high tariffs each had placed on the other since Trump's January return to though this deal made stock markets go up, it didn't solve deeper issues like, U.S. complaints about China's trade style, Fentanyl drug trafficking, Taiwan's political status. Since January, Trump has often made trade threats, but sometimes changed his mind later. This confused world leaders and April, China stopped sending out key minerals and magnets. This affected global car, chip, and defense companies. China is using these mineral exports as a pressure tool. If the U.S. economy slows down because of supply issues, it could hurt Trump 90-day deal is shaky. Trump accused China of breaking it, raised steel and aluminum tariffs to 50%, and restricted chip-related exports to China. China denied breaking the deal and warned the U.S. about U.S. sees China as its main global rival in economy and military. Despite tension, Trump often says good things about Xi, including admiring his strength and long rule. Trump really wanted a call or meeting with Xi, but China didn't want to do it until both sides had worked out and his team think leader-to-leader talks help solve problems better than lower-level meetings. China said Thursday's call happened because Trump asked for it. It's not clear when they last spoke. Trump says they talked before his January 20 return, but China says they hadn't spoken are watching the talks carefully. They are worried the trade fight could hurt companies and mess up supply chains before the Christmas season. Now Trump's tariff rules are challenged by some people in the U.S. and are taking it to 2017 Trump and Xi met, but they haven't met face to face since 2019 in Osaka, Japan. Xi last came to the U.S. in November 2023. He met President Joe Biden then. That meeting helped restart military talks and slow down fentanyl drug talk about taxes on trade and try to fix problems between their are important materials for making phones, cars, and weapons. China is not sending them out to pressure the U.S.
Economic Times
2 hours ago
- Economic Times
Nintendo Switch 2: Is new gaming console available in market? Details here
High Demand Global Launch Strategy Nintendo Expectations Live Events Tariff Policies FAQs (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Nintendo released its new gaming console, the Switch 2, on Thursday. The console follows the success of the original Switch and is now available in major global markets. The launch brought strong demand, long queues and quick sell-outs in several launched the Switch 2 with strong consumer interest. In Japan, 2.2 million people entered a lottery to buy the console. This number was more than the available supply. Demand in Japan remains high, and many stores require pre-orders. In China, online retailer received 400,000 reservations. In the US, retailers like Best Buy and Walmart opened stores at midnight. Walmart's website showed the console as sold Buy opened select stores at midnight. Walmart launched sales online and in stores. In the UK, Amazon showed delivery available the next day. Other stores, such as Currys and Smyths, had stock. Retailers are working to keep up with customer demand through restocking plans to sell 15 million units of the Switch 2 by March 2026. Analysts believe the company could exceed this number. Omdia expects 14.4 million units sold in 2025. Kantan Games forecasts 20 million units sold in the first year. Analysts note strong launch day interest and believe Nintendo can meet demand with steady supply over Switch 2 is priced at $449 in the US. Nintendo has paused decisions on raising prices due to tariff uncertainty. US tariffs could affect future pricing. Nintendo of America President Doug Bowser said the current price should hold but future hikes are possible depending on policy Switch 2 is facing shortages due to high global demand and limited launch-day stock, especially in Japan, China, and the has not confirmed any increase, but future tariffs might cause a price change depending on government trade policies.
