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Apollo targets a third of CV tyre market

The Rs.11,863 crore Apollo Tyres will be looking at consolidating its position in existing segments and seeking growth opportunities in new segments.

India’s leading tyre maker Apollo Tyres has a multi-pronged strategy to achieve the leadership position in three key segments - commercial vehicle, passenger vehicle and tractor category tyres – by 2020.

The company has also drawn up plans to become a strong player in the two-wheeler tyre segment, which it entered earlier this year.

In the commercial vehicle space, the company claims a market share of 27 cent, which is reported to be highest in the segment. The company is targeting to garner one-third of the market share  even amid growing threats over Chinese imports.

As part of this plan, the company is doubling its current truck and bus radial tyre capacity of 6000 units a day.

 “We have perhaps the largest capacity for passenger car radial (PCR) tyres in India. We are also the largest exporter of PCR from the country. We continue to build our brand in this business with the latest development being its association with the Manchester United Football Club,” noted Satish Sharma, President.

Apollo is also contemplating launching radial two-wheeler tyres soon.

 

Hungary plant

 

Apollo’s Hungary Greenfield project is on track and is expected to start commercial production in the first quarter of the 2017 calendar year. It has spent €150 million on the Hungary project so far, and the total investment is expected to increase to €300 million by the end of this year.

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