Ceat cuts 3-4 per cent of tyre prices

Mumbai, Dec 20: 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 and 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."

ANI