Apollo Tyres, India’s major tyre manufacturer, represented by Mohammed Assulaimy Auto Parts Centre in the Sultanate of Oman, is aiming at a major share in the Oman’s automotive market with its latest addition for the passenger and commercial vehicle tyres.
“Apollo would target the one million passenger car tyres per annum market, with its high performing 4G range of tyres, which includes Aspire 4G, Alnac 4G and Amazer 4G”, TV Alikunju, General Manager, Mohammed Assulaimy Auto parts Centre said, adding that the company also plans to introduce its premium European brand, Vredestein, into this market going forward.
Speaking to the Observer on the sidelines of the introduction of truck bus radials and passenger car tyres in Oman which is third such introduction within 4 months in Middle East region, Alikunju said the company is thriving to cater to the majority automotives in the country.
“With our brand value and reachability, the Endurance range of truck bus radials and 4G range of passenger car tyres, we are quite confident that the Omani market gives high hopes for our products.”
J S Mukul, Ambassador of India to Oman, was the chief guest at the ceremony.
Apollo Tyres, a $ 2.2 billion tyre major, is focusing on GCC as the common market to grow and experience higher purchasing power. As per Oman’s Public Authority for Investment Promotion and Export Development (PAIPED), the automobile industry in this region has a high ratio of cars per household.
The increased freight movement across the region is also driving the growth in the commercial vehicle tyre segment. Oman, which is mostly a truck radial market, would see the introduction of the highly successful Apollo Endurance range of truck-bus radials. The commercial vehicle segment in Oman is 95 per cent radialised, and as per Apollo estimates, the market has a potential of nearly 400,000 truck-bus radials annually.
The management of Mohammed Assulaimy Auto Parts further said that the focus on GCC countries is part of company’s strategy to enter newer markets across geographies. While Dubai was set-up as the hub for the Middle East and North Africa (MENA) region two years back, the tyres for these markets are imported from both India and Europe.