Rapidly expanding Apollo Tyres says the Saudi market is the most important in the region as it formally begins selling through its new exclusive partner.
Through Al-Jomaih Tyres Company Limited, Apollo Tyres added in a statement that it will be focussing on the large and growing truck-bus radial and passenger car tyre market.
Commenting on how the company is aiming to capture a sizeable market share in both segments, Shubhro Ghosh, Group Head, ASEAN, Middle East & Africa, Apollo Tyres Ltd, descirbed the entry into the Kingdom as 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 (most) 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,” he said.
“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 both commercial vehicle and passenger vehicle tyres, within the next five years.”
Ghosh added that the company was looking to leverage its official global tyre partnership with football giant Manchester United.
“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 Manchester United fan base here,” he said.
Sheikh Abdullah Al-Jomaih, CEO, Al-Jomaih Tyres, said his firm had been 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.”
According to both companies, the tyres sold in Saudi Arabia would be customised to meet the local market requirements and would be covered under a 5-year warranty from the date of manufacturing.