ATMA has elected JK Tyre & Industries MD Anshuman Singhania as the new Chairman and Michelin India EVP Mohan Kumar as the Vice-Chairman.
Automotive Tyre Manufacturers’ Association (ATMA), the largest governing body of the tyre manufacturer companies in India has announced the election of Anshuman Singhania, Managing Director of JK Tyre & Industries as the new Chairman of the organisation. Also, ATMA has elected Mohan Kumar, Executive Director of Michelin India as the new Vice-Chairman of the organisation.
Anshuman Singhania has earned his graduation degree from Oxford Brookes University in the UK. He is also an alumnus of the London Business School. Singhania started his career from the shop floor of the JK Tyre & Industries as an apprentice. He has held several positions across departments such as planning, production, product development, quality control, stores and purchase, finance, and sales and marketing.
Singhania took over as the Managing Director of the JK Tyre & Industries in October 21st, 2020. He has played a key role in implementing the latest technologies in the manufacturing process at JK Tyre.
Mohan Kumar who is currently the Executive Vice President and Whole Time Director at Michelin India, joined the French tyre major Michelin Group in 2005. Since December 2017, Mohan Kumar has been head of business of Michelin for India and the SAARC countries. In Michelin Group, he has held various leadership roles both in Michelin India and Michelin USA. Kumar is also the Chairman of the Consumer Goods Committee at IFCCI. He is a graduate from NIT Trichy and a post-graduate from IIM Bangalore.
The ATMA members include tyre manufacturing companies such as Apollo Tyres, Bridgestone India, Ceat, Continental India, Goodyear India, JK Tyre & Industries, Michelin, MRF, Birla Tyres, TVS Tyres and Yokohama. The current Indian tyre market size is estimated at $9-$9.5 billion annually, with exports making up less than 20% of the overall industry revenue.
Meanwhile, the incremental tyre demand generated in the period between FY2021 and FY2024 could be insufficient to absorb the new capacities created in the current Capex cycle, while at least 20% of the overall capacities could be unutilised, believes rating agency India Ratings (Ind-Ra). Also, Ind-Ra expects a mid-single-digit decline in the tyre industry volumes despite a sharp 20-25% decline in volume sales generated by the original equipment makers’ (OEMs), as the tyre replacement market would continue to support the industry.
Ind-Ra also expects that segment-wise, two- or three-wheeler tyre capacities would be utilised 70-75% and passenger car radials by 80-85% by 2023-24, after considering the additional capacities under set-up or ramp-up.
Also Read: Key leadership changes in the auto industry in March 2021
