Apollo Tyres enters Saudi Arabia in partnership with Al-Jomaih Tyres Company
With an market potential of approximately 22 million tyres in Saudi Arabia, Apollo Tyres aims to sell nearly 800,000 tyres per annum, including commercial vehicle and passenger vehicle tyres, within the next five years.
Apollo Tyres has announced its market entry in Saudi Arabia through an exclusive distribution agreement with Al-Jomaih Tyres Company.
Shubhro Ghosh, group head, ASEAN, Middle East & Africa, Apollo Tyres Ltd, said: “The entry into Saudi Arabia is the culmination of a long-term product planning and development programme. We are 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, through our dedicated team of sales and service professionals, and a very able business partner in Al-Jomaih Tyres.”
Sheikh Abdullah Al-Jomaih, CEO, Al-Jomaih Tyres, said: “We are highly impressed with the quality and performance reputation of Apollo’s tyres. We have noticed that the premium tier 2 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.”
Apollo Tyres will be focussing on the growing truck-bus radial and passenger car tyre market, aiming to capture a sizeable market share, in each of the segments, in the next two years. The tyres sold in Saudi Arabia will be customised to meet the local market requirements and covered under a 5-year warranty from the date of manufacturing.
“Saudi Arabia has a market potential of approximately 22 million tyres, and we have set a very aggressive target for ourselves, of selling nearly 800,000 tyres per annum, including commercial vehicle and passenger vehicle tyres, within the next five years,” said Shubhro.
Apollo Tyres also aims to capitalize on its brand association as the official global tyre partner of football club Manchester United.
Shubhro added: “We believe that this global partnership will further help us position our brand and the products in the minds of the consumers across Saudi Arabia, and we look forward to working with Al-Jomaih Tyres to help further engage with the Manchester United fan base in Saudi Arabia.”
Apollo Tyres has multiple manufacturing units in India, the Netherlands and Hungary and markets its products under the Apollo and Vredestein global brands for passenger, commercial and off highway vehicles and the Regal and Kaizen region-specific brands for trucks and buses.