Apollo Tyres aims to be in top three in 2-w tyre mkt in India
Apollo Tyres is confident to be among top three players in the two-wheeler tyre segment in the country in near future. In its 43rd AGM, the company chairman Onkar Kanwar said, “ With a clear strategy laid out for the next two years including the necessary marketing, advertising and R&D push, I am confident that we will soon be amongst the top 3 players in this segment.”
Though the Kanwars-led company is a late entrant, as compared with its traditional competitors, in the two-wheeler tyre segment in the country, Apollo Tyres sees the entry into two-wheeler tyre segment is one more step to strengthen its position in the domestic market. “Time and again, Apollo Tyres’ partners have requested us to give them the best-in-class products in this segment. I must complement our strong R&D team which worked relentlessly over the past 2 years in developing the two-wheeler tyres, which are best suited for the diverse Indian road conditions. With the offering, Apollo Tyres is a full range player and the two-wheeler tyres will support our vision of creating a stronger and profitable company,” said the Apollo Tyres Chairman.
Apart from the two-wheeler tyre entry, in the last fiscal, Apollo Tyres also forayed into the retreading business. To gain market shares, for passenger car tyre segment, the company introduced the high-mileage passenger car tyre Apollo Amazer 4G Life, that can run up to 100,000 kms and pursued aggressive marketing initiatives for the TBR segment. “In fact we are doubling our capacity in this key segment to further consolidate our leadership position,” said Kanwar.
To expand its reach in the European market, in the FY16, Apollo Tyres acquired the Germany-based reifencom GmbH. “The acquisition will give our brands increased visibility and its strong online presence in many countries including Austria, Switzerland and France will further support the growth of the retail network in Europe and also help in our journey to sell tyres online in other key markets outside Europe.