Apollo Tyres said that it will adopt dual brand strategy in India in both passenger and commercial vehicle segments by bringing in brands such as Vredestein for PV (from Europe subsidiary) and Regal for CV segment (from South Africa). The company has also decided to double its TBR (truck, bus radial) tyre capacity at its Chennai plant to 12,000 units a day from 6,000 units a day over next 24 months to consolidate its position.
In an interactive session here with select media, Satish Sharma, president, Asia Pacific, Middle East and Africa (APMEA), Apollo Tyres, said: “With 17% market share in passenger vehicle segment through Apollo branded tyres, the company will introduce Vredestein (European subsidiary) premium radial tyres for passenger vehicles above executive sedan segment in India, including luxury vehicles. We have just begun test marketing European brand in India in select places and we will soon launch it in a big way. With the European brand in place, the company will attain market leadership in PV segment,” he said.
MRF, Bridgestone are leaders in PV segment at present.
“To consolidate our leadership further as well to increase market share to 35% from current 27% in the truck-bus radial tyre segment (CV), we will also play dual brand strategy with Regal range of radial tyres from our South African subsidiary in India,” Sharma said. The demand for radial tyres is on the rise in CV segment,” he added.