Left Menu
Development News Edition

Apollo Tyres eyes 20% share in aftermarket segment as it aims 'clear leadership' in PV space

PTI | New Delhi | Updated: 12-09-2019 15:29 IST | Created: 12-09-2019 15:29 IST
Apollo Tyres eyes 20% share in aftermarket segment as it aims 'clear leadership' in PV space

Apollo Tyres plans to further scale up its aftermarket business as it aims to establish a clear leadership in the overall domestic passenger vehicle segment in the next two years, a senior company official said on Thursday. The company, which on Thursday launched a new tyre range Apterra AT2 for SUVs, already has a leading position in the original equipment (OE) segment with market share ranging 25-30 per cent in volume terms and now aims to enhance its market share in the replacement vertical.

"Our ambition is to be a number one in the passenger vehicle segment. We already have a leading position in the OE segment. In aftermarket, we have a market share of around 16 per cent which we want to scale up to 20 per cent in the next two years," Apollo Tyres President Asia Pacific, Middle East and Africa Satish Sharma told PTI. It will help the company achieve a dominant and clear leadership position in the PV segment which also has significant players like MRF and Bridgestone, he added.

Scaling up aftermarket business is important for the company's growth as the segment accounts for around 70 per cent of the revenues currently, Sharma said. Apollo Tyres' market share in the PV segment is currently pegged at around 20 per cent. In the commercial vehicle segment, including radial and bias tyres, the company's market share is around 30 per cent.

"In the market share game in OE segment, we have already won. In replacement vertical we want to (win as well)," Sharma said. New products, branding initiatives and expansion of network expansion would help the company scale up the business.

When asked if the company is also taking steps to curtail production with slowdown in the overall automobile market, Sharma said there has not been much impact for them as 70 per cent of company's revenue comes from the aftermarket and only 30 per cent from the OE. The company's investment plans are going on as planned and there have been no curtailment as of now, he added.

Designed and developed as a collaborative effort between the two Global R&D Centres -- in Enschede, the Netherlands and in Chennai, India, the Apterra AT2 will be produced at the company's Vadodara unit in Gujarat. The company is looking at catering to the all-terrain tyre market of around 15,000 tyres/month in India, and is introducing eight sizes in first phase, which are targeted towards vehicle like Endeavour, Fortuner, Pajero, Force One, Scorpio, XUV 500, Hexa and others.

Another six sizes of Apollo Apterra AT2 would be launched in second phase, and together, the range will cover over 90 per cent of the all-terrain vehicle market, Sharma said. "We are sharpening our focus on the SUV segment in India, with specialised tyres for different terrains, as this vehicle segment is growing faster than passenger cars," he added.


TRENDING

OPINION / BLOG / INTERVIEW

Post-COVID-19 Nigeria needs a robust Health Management Information System to handle high disease burden

Nigeria is among a few countries that conceptualised a health management information system HMIS in the early 90s but implementation has been a challenge till date. Besides COVID-19, the country has a huge burden of communicable and non-com...

Morocco COVID-19 response: A fragile health system and the deteriorating situation

Learning from its European neighbors, Morocco imposed drastic measures from the initial stages of the COVID-19 outbreak to try to contain its spread. The strategy worked for a few months but the cases have surged after mid-June. In this sit...

COVID-19: Argentina’s health system inefficiencies exaggerate flaws of health information system

You can recover from a drop in the GDP, but you cant recover from death, was the straightforward mindset of Argentinas President Alberto Fernndez and defined the countrys response to COVID-19. The South American nation imposed a strict...

Rwanda’s COVID-19 response commendable but health information system needs improvement

Rwanda is consistently working to improve its health information system from many years. However, it is primarily dependent on the collection and reporting of health data on a monthly basis. Besides, evaluation studies on Rwandas HIS publis...

Videos

Latest News

Paddy procurement to commence in Haryana from Sunday

The procurement of PR-126 variety of paddy will start from September 27 in Haryana, a senior official said here on Saturday. Additional Chief Secretary, Food, Civil Supplies and Consumer Affairs Department, P K Das, said that the PR-126 var...

Six recovered COVID-19 men's hockey players have integrated with team: Reid

The six hockey players who contracted COVID-19 last month have integrated with the rest of their teammates and are close to reaching peak fitness, mens national team head coach Graham Reid said on Saturday. Captain Manpreet Singh, Surender ...

92 areas of England on COVID-19 watchlist; London Mayor wants stringent curbs

The UK governments COVID-19 watchlist has been expanded from 58 to 92, including all boroughs of London, as the rate of infection continues to rise across Britain. London Mayor Sadiq Khan said he has spoken to UK Prime Minister Boris Johnso...

Russia's COVID-19 cases rise to 1,143,571

Moscow Russia, September 26 ANISputnik Russia has registered 7,523 new cases of the coronavirus disease over the preceding 24 hours, up from 7,212 a day earlier, which brings the cumulative total to 1,143,571, the federal response center sa...

Give Feedback