Apollo Tyres today said it has set up an office in Malaysia, the third largest automotive market in the ASEAN region, as the company eyes expanding its presence in the country.
The company already has presence in Thailand and Indonesia.
“Over the past 2-3 years we have been making steady inroads into the Malaysian market as this is a pivotal market for our growth in the region,” Apollo Tyres President, Asia Pacific, Middle East & Africa, Satish Sharma said in a statement.
The company’s product range fits well with the Malaysian consumer requirements and with the support of key distribution and retail partners in Malaysia, Apollo Tyres has been able to penetrate most of the key replacement tyre market segments, he added.
“Now that we have a foothold in Malaysia, we believe it is the perfect time to step up our focus in this market with the establishment of the Apollo Tyres’ Malaysian subsidiary,” Sharma said.
Subsequent to setting-up sales and distribution hub in Bangkok for the ASEAN region, Apollo Tyres has been increasingly focusing on expanding its footprint in South East Asia.
The company is targeting a bigger share of the pie in the Malaysian replacement tyre market, which has an annual capacity of 5,80,000 truck-bus radials and 9.5 million passenger car tyres.
Apollo Tyres is building a complete team of sales and service personnel to service the Malaysian customers.