The French multinational tyre manufacturing brand Michelin which is arguably one of the most recognized and the biggest tyre manufacturer in the world recently announced a piece of great news. The company in a recent statement said that it has become the first-ever tyre company in India’s passenger car market to receive a five-star accreditation from the country’s recently implemented star labelling programme. Michelin stated that its SUV tyres Latitude Sport 3 and Pilot Sport 4 SUV tyres have bagged an amazing 5 Star rating after testing in accordance with the new rules established by the Automotive Industry Standards (AIS).
Commenting on the achievement of this announcement, Manish Pandey, Commercial Director B2C for India Region said, “At Michelin, we believe that for mobility to have a future, it will have to be increasingly eco-friendly, efficient, safe and accessible. After receiving the first 4-Star label for our commercial vehicle tyre recently, we are thrilled to be recognised once again with India’s first 5 Star rating for two of our most popular passenger car tyre-lines in India.”
He further added, “For our brand, this first 5 Star rating will add greater confidence among our customers, where they will be better placed to select tyres that are fuel-efficient, safe and contribute to decreasing carbon footprint in the country.”
According to AIS, tyres with a 5-star rating typically use up to 9.5 percent less fuel than tyres with a lower grade. The organisation also added that will help in reducing greenhouse gas emissions, which are a major contributor to global warming. Additionally, compared to a lower-rated tyre, moving to a 5-star rated tyre would result in an average decrease of up to 750kg in CO2 emissions. Furthermore, these tyres can help consumers save money by increasing the overall economy, which is important given the nation’s persistently increasing fuel prices.
In other tyre companies-related news, earlier this year told you about that The Competition Commission of India (CCI) in an alleged instance of competition law infractions in the country raided the headquarters of multiple tyre businesses including CEAT, Apollo Tyres, MRF (Madras Rubber Factory) and Continental Tyre. According to nearby sources the raids were carried out by officers of the Competition Commission of India (CCI) in different locations.
Earlier in February of this year, the Supreme Court of our nation dismissed a petition filed by these prominent tyre manufacturers of the country that challenged the regulator’s order imposing penalties totalling over ₹1,788 crores on them because of price manipulation as a cartel.
According to the statement, the Competition Commission of India (CCI) announced on February 2, 2022 that in August of 2018, it fined Apollo Tyres, MRF, CEAT, Birla Tyres, JK Tyre & Industries, and Automotive Tyre Manufacturers Association a total of more than 1,788 crores (ATMA). “The tyre producers had shared price-sensitive data amongst themselves through the platform of their organisation, namely, Automotive Tyre Manufacturers Association (ATMA), and had taken collective decisions on the prices of tyres,” the sanctions were levied on these firms. During 2011-2012, the CCI inferred that the corporations had breached Section 3 of the Competition Act, which forbids anti-competitive agreements.