Bridgestone India Accelerates Towards 7% Growth in Aftermarket Tire Segment

Bridgestone India eyes a 6-7% CAGR in gross sales over the next five years. Managing Director Rajarshi Moitra emphasizes robust growth in the domestic aftermarket, especially in the passenger car segment. The company is investing USD 85 million for capacity expansion in Pune and Indore to sustain momentum.

Japanese tire giant Bridgestone is targeting significant growth in India's market, projecting a compound annual growth rate (CAGR) of 6% to 7% in gross sales over the next five years. The firm is notably bullish on the domestic aftermarket, particularly in the passenger car segment, says Managing Director Rajarshi Moitra.

Moitra, promoted to the role of Managing Director at the start of the year, revealed plans for a USD 85 million investment aimed at expanding capacities at its Pune and Indore plants. This expansion is part of a strategic push as Bridgestone India stands among the Bridgestone Group's top five growth markets.

Despite global disruptions and post-GST reforms, Bridgestone sees a steady demand in the passenger car division. Growth is further fueled by urbanization in Tier 2 to Tier 4 towns, prompting optimism about aftermarket growth. Moitra aims for Bridgestone to maintain its market leadership by offering premium products and services.

(With inputs from agencies.)