TECHGuru

  Manufacturers Reduce Stockpiling with Production Cuts during Coronavirus Companies in the rubber tire market are facing rising inventories and are planning on production cuts during the coronavirus pandemic. As such, COVID-19 vaccines are anticipated to boost the demand for automobiles. Even Bridgestone Corporation is boosting its credibility credentials by offering US$  100  incentive to the U.S.-based employees who choose to be vaccinated. A major slump in the tire demand is affecting the growth of the rubber tire market. This has led to a sharp decline in natural rubber prices. Producers are working on strategies to reduce stockpiling by bringing into effect production cuts. As such, stock lifting from factories and transporting the same to auto manufacturers is taking place in a staggered manner. Thus, essential applications in agriculture tractors, construction vehicles, and public transport vehicles are helping to keep economies running during the COVID...