BWI: Ceat Leads the Industry with Another Price Cut of 3-4 per cent in less than a Fortnight

Press release from Business Wire India
Source: Ceat Ltd
Saturday, December 20, 2008 03:14 PM IST (09:44 AM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Automotives, Business services; Technology; Automotive
Release no: 18791
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Ceat Leads the Industry with Another Price Cut of 3-4 per cent in less than a Fortnight
Passes on Benefits of Cost Cutting and Reduction in Raw Materials to Consumers; Ceat Tyres to Cost 6.6 - 7.6.per cent Lesser with Immediate Effect

Mumbai, Maharashtra, India, Saturday, December 20, 2008 -- (Business Wire India) -- Ceat Ltd has announced a fresh round of price cuts to the tune of 3- 4 per cent on its truck tyres. This is the second round of price cuts announced by Ceat within a span of 10 days, the first tyre manufacturer to do so. A few days ago, Ceat had announced a price reduction on its tyres by about 3.6 per cent, thus passing on the gains from reduction in excise duty to its customers.

With this fresh round of price cuts, Ceat tyres will cost 6.6 per cent to 7.6 per cent lesser. The new prices will be effective all India with immediate affect.

Speaking about this initiative Arnab Banerjee, VP - Sales & Marketing, Ceat Ltd said, ".Ceat's decision to further reduce the cost of its tyres is part of the company's belief of giving optimum benefit to its consumers. The cost effectiveness gained by the best practices adopted by Ceat in cost cutting and the benefits we have gained by the reduction in raw prices have been passed on to our customers."

He added, "This is the second round of price cuts we have announced in less than two weeks. With this price cut our customers stand to gain 6.6 per cent - 7.6 per cent."

CEAT

The flagship company of the RPG Enterprises, CEAT Tyres was established in 1958. Today, CEAT is one of India's leading tyre manufacturers, with an annual turnover of Rs 2,600 crores. CEAT's solid brand equity has empowered the company to establish a strong presence in both, domestic and international markets. CEAT tyres, tubes and flaps are renowned for their superior quality and durability, and is recognised as being 'Born Tough'. CEAT offers the widest range of tyres to all user segments and manufacture world-class radials for all Indian vehicles including: Heavy-duty Trucks and Buses, Light Commercial Vehicles, Earthmovers, Forklifts, Tractors, Trailers, Cars, Motorcycles and Scooters, Auto-rickshaws Ceat manufactures over 6 million tyres every year and enjoys a major market share in the light truck and truck tyre market. Ceat exports to over 100 countries across USA, Europe, Africa and other parts of Asia.Has a robust network consisting of 33 regional offices, over 3,500 dealers and more than 100 C&F agents.




CONTACT DETAILS
Kavita K Bhaskaran, Sampark, +91 9987355009, kavita.bhaskaran@sampark.com
Ankita Shethia, Sampark, +91 9833823731, ankita@sampark.com.

KEYWORDS
CONSUMER, MARKETING, AUTOMOTIVE, BUSINESS SERVICES, TECHNOLOGY, AUTOMOTIVE

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