August 1, 2011
Kottayam, India — India’s Rubber Board has published the June issue of its publication, Rubber Statistical News, covering statistics for April 2011.
Production and consumption of Natural Rubber (NR) in the country for 2011-12 were projected at 902,000 tonnes at a growth of 4.6 percent and 977,000 tonnes with a growth of 2.9 percent respectively.
Production of NR in the country during 2010-11 was 861,950 tonnes compared to 831,400 tonnes during 2009-10 registering a growth of 3.7 percent. Productivity in the country increased to 1807 kg/ha during 2010-11 from 1775 kg/ha during 2009-10.
Consumption of NR during 2010-11 increased to 947,715 tonnes registering a growth of 1.8 percent as against 930,565 tonnes during 2009-10. The auto tyre sector recorded a lower growth of 3.7 percent during 2010-11 compared to 13.4 percent achieved during 2009-10. The general rubber goods sector registered a negative growth of 1.2 percent compared to (-) 2.5 percent during the previous year.
June issue of Rubber Statistical News from India’s Rubber Board.
July car sales skid on rising interest rates, fuel price
MUMBAI, AUG. 1:
Impacted by higher borrowing costs and increase in fuel prices, domestic car sales in July continued the slide that began earlier this year.
The big three carmakers — Maruti Suzuki, Tata Motors and Hyundai — which represent 75 per cent of the market saw sales taking a nosedive.
Market leader Maruti Suzuki saw a record drop in sales of 26 per cent, as it stopped production of its third most popular product – Swift. Combined with the shift in production of the Swift Dzire from its Manesar to Gurgaon plant, the company took a hit of 17,000 units.
A new model of the Swift, which posts average sales of 12,000 units a month, is being launched this month. The carmaker, which sells almost every second car in the country, saw a 4 per cent sales drop last month.
“The market was anyway down on the back of a poor business sentiment. Also, the base effect came into play as last year this period had been very good. At that time, Alto K10 and Eeco sales had been strong,” Mr Shashank Srivastava, Maruti Suzuki's Chief General Manager (Marketing), told Business Line.
Vehicle purchases have become more expensive with most banks raising interest rates after the RBI in July increased the key repo and reverse repo rates by 50 basisi points. The move, which was to rein in rising inflation, was the RBI's 11{+t}{+h} increase in 15 months.
“We expect a turnaround in sales by August-end or September. Usually, sales pick up in the festival season which starts with Onam in Kerala. Once we have normal production levels for the Swift, our numbers will improve,” Mr Srivastava said.
Hyundai, the second largest carmaker, also saw an 11 per cent drop in domestic sales, even as its exports saw 11 per cent rise. The Korean carmaker is the biggest car exporter out of India. “Though the customer enquiries have increased but due to the increase in fuel price and interest rates, conversion rate has slowed down,” said Mr Arvind Saxena, Director - Marketing and Sales, Hyundai Motor India.
Tata Motors' sales saw the sharpest fall among the larger players at 38 per cent. Sales of the Nano, touted as the cheapest car in the country, dropped 64 per cent to 3,260 units. Mahindra & Mahindra bucked the trend with 35 per cent higher car and utility vehicle sales.
Ford, which announced its second production facility in the country at Gujarat a few days ago, saw sales climbing 11 per cent.
The US-based carmaker is now working to increase capacity of diesel engines, which are high in demand for its popular model – the Figo compact. Meanwhile, Volkswagen more than doubled its July sales at 6,529 units, while sister company Skoda also saw a two-fold increase at 2,412 units. Toyota Kirloskar also saw sales doubling to 13,592 units
TWO WHEELERS
Two-wheeler makers bucked the negative sales trend of the larger carmakers, with Hero MotoCorp (erstwhile Hero Honda) posting a 15 per cent growth in sales despite its Haridwar plant being closed for a few days.
HMSI saw sales rise 10 per cent on the back of a 20 per cent growth in scooter sales (91,642 units). TVS Motor and Yamaha saw sales go up by 14 and 28.5 per cent (38,197 units), respectively.
Spot rubber improves on covering buy
KOTTAYAM, AUG. 1:
Spot rubber turned better on Monday. According to sources, the market improved mainly on covering purchases as sellers stayed back possibly following another firm closing in the international markets. Declines in the domestic futures failed to make any visible impact on prices. The trend was mixed.
Sheet rubber increased to Rs 208 (206) a kg, according to traders. The grade inched up to Rs 207.50 (207) a kg both at Kottayam and Kochi, as reported by the Rubber Board.
The August series slipped to Rs 206.53 (207.83), September to Rs 205.91 (207.64), October to Rs 206.00 (207.78), November to Rs 207.26 (209) and December to Rs 208.55 (210), while the January series improved to Rs 212.90 (211.25) a kg for RSS 4 on the National Multi Commodity Exchange.
RSS 3 (spot) firmed up to Rs 216.47 (215.72) a kg at Bangkok. The August futures firmed up to ¥382 (Rs 217.97) from ¥380.9 a kg during the day session but then remained inactive in the night session on the Tokyo Commodity Exchange.
Spot rates were (Rs/kg) RSS-4: 208 (206); RSS-5: 205 (204); Ungraded: 197.50 (197); ISNR 20: 206 (206) and latex 60 per cent: 135 (136).
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