Impact of Covid-19 on Tire Market

The tire industry experienced a significant impact by the COVID-19 pandemic due to a sharp decline in the sales of automobile and rubber prices, disruption in the automotive value chain, decrease in the cash flow, and slow business activity in the allied market such as automotive rubber, construction sites, etc. The temporary closure of the manufacturing units and limited supply of vehicle parts form the international market has a pessimistic influence on the tire industry as it is directly associated with the Original Equipment Manufacturers (OEMs). For more information about the impact on the industry fill the required information and we would be happy to assist you.