Apollo Tyres opens office in Malaysia
Apollo tyres set up a new office and team in Malaysia, the third largest automotive market in the ASEAN region as the company expands operations in the region. The Indian tyre manufacturer already has presence in South East Asia in Thailand and Indonesian markets.
The company has already set up a sales and distribution hub in Bangkok to cater to its growing presence in the region. By moving into Malaysia, the company is targeting the country’s replacement tyre market which has an annual capacity of 580,000 truck-bus radials and 9.5 million passenger car tyres. Their new team here will include sales and service personnel for Malaysian customers.
Satish Sharma, the President of Apollo Tyres’ Asia Pacific, Middle East and Africa operations said, “Over the past 2-3 years we have been making steady inroads into the Malaysian market as this is a pivotal market for our growth in the region. Our product range fits well with the Malaysian consumer requirements and with the support of our key distribution and retail partners in Malaysia, we have been able to penetrate most of the key replacement tyre market segments. Now that we have a foothold in Malaysia, we believe it is the perfect time to step up our focus in this market with the establishment of the Apollo Tyres’ Malaysian subsidiary.”
Malaysia’s road network infrastructure is one of the best in the region and it is no surprise that it has over 90 per cent radicalisation in the commercial vehicle segment. Apollo’s range of Endurance tyres for trucks and busses are already popular in the country. But CVs aside, Apollo’s current range of tyres available in Malaysia can service nearly 90 per cent of their car market’s requirements.