Demand bounces back across product categories since easing of localised lockdowns: Apollo Tyres
Gurugram-based Apollo Tyres said demand had bounced back strongly across product categories since the easing of the localised lockdowns by state governments earlier in June this year. Demand from commercial vehicle makers, though, is slow and is expected to gain pace in the coming quarters.
In terms of the demand environment, we saw maximum impact of covid second wave and the lockdowns in the month of May, and since then, we have witnessed a steady demand recovery. The demand is coming back strongly across product categories. The truck OEM demand are the slowest to pick up, which is expected to take another quarter to speed up”, Apollo Tyres Chairman Onkar Kanwar told ET, adding that in the replacement segment, across categories, the company has seen good momentum.
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