Company will focus on truck-bus radial and passenger car tyre markets
Apollo Tyres Ltd today announced its entry into Saudi Arabia, through a tie-up with Al-Jomaih Tyres Company Ltd. Apollo Tyres said it would be focussing on the large and growing truck-bus radial and passenger car tyre market, aiming to capture a sizeable market share, in each of the segments, in the next couple of years.
The tyres sold by Apollo in Saudi Arabia through Al-Jomaih Tyres would be customised to meet the local market requirements and would be covered under a five-year warranty from the date of manufacturing. Apollo Tyres had set-up its hub for the Middle East and Africa region, in Dubai, in 2011, and has since managed to expand its presence rapidly in the entire region with quality products.
Shubhro Ghosh, Group Head, ASEAN, Middle East and Africa, Apollo Tyres Ltd, said the entry into the Kingdom of Saudi Arabia is the culmination of a long-term product planning and development programme. Apollo Tyres is now ready with products suited to cater to the Saudi market, which is the largest and important replacement tyre market in the Middle East region, he added. Ghosh noted that Saudi Arabia has a market potential of about 22 mn tyres, and the company has set an aggressive target of selling almost 800,000 tyres per annum. This target will include both commercial vehicle and passenger vehicle tyres, within the period of the next five years.
The company is highly impressed with the quality and performance reputation of Apollo’s tyres, noted Sheikh Abdullah Al-Jomaih, CEO, Al-Jomaih Tyres. He said the premium Tier II market in Saudi has been expanding at a fast pace and Apollo Tyres meets the need of local customers who are seeking quality products at competitive prices.