The expansion of its radial truck and bus tire line in Iran is part of Apollo Tyres Ltd.'s strategy to increase its presence in that country's commercial vehicle segment.
New variants of the successful Apollo Endurace range of truck and bus radials recently were introduced to the company's 75-plus business partners in Iran, in association with Apollo Tyres’ 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," says Apollo. "This will also result in increased freight movement across the country, which is what Apollo expects to further leverage upon."
Apollo, which also sells passenger tires in Iran, has been selling its truck and bus radials in Iran for almost three years. With the introduction of new variants of Apollo Endurace -- MA737, HA, HD and RD -- the company says it expects its market share to increase significantly by the end of the current fiscal year.
Going forward, the company will introduce its OTR tires in Iran. The size of Iran's commercial vehicle tire market is approximately 300,000 tires per month; 60% of the units are radials, according to the company.
Apollo Tyres posted revenue of $ 2.1 billion last year. For more information on Apollo and its products, visit www.apollotyres.com.
