Targeting to increase dominance in the CV segment
Apollo Tyres, a US$ 2.08 billion tyre major, expanded its range of truck-bus radials (TBR) in the Iranian market. New variants of the highly successful Apollo Endurance range of truck-bus radials were introduced recently to more than 75 business partners in Iran, in association with its distributor, Alton Rah Tohid Jonob Khozestan Coop Co.
With high expectations of lifting of the economic sanctions on Iran by countries across the globe, the Iranian economy is expected to grow rapidly. This will also result in increased freight movement across the country, which is what, Apollo expects to further leverage upon. While the company has already been selling its truck-bus radials in this Western Asian country for the past two to three years, with the introduction of new variants of Apollo Endurance, MA737, HA, HD and RD, the company is now targeting towards significant increase in its sales of truck-bus radials in the country by the end of the current fiscal.
In addition to these radials, Apollo is known for its quality products in the truck-bus bias and passenger vehicle tyres space in Iran. In fact, the company has dominated the bias category in the last few years in this country. The company, going forward, will also introduce its Off-highway tyres in Iran. The size of Iranian commercial vehicle tyre market is approximately 3,00,000 tyres per month, of which 60 per cent are radials.