Apollo Tyres launched European brand Vredestein in India for premium cars & SUVs. However, it is clear that Apollo wants to cash on the growing markets of premium cars segment.
Delhi-based tyre maker took over the Cooper Tire for $2.4-billion, Vredestein Banden BV is a subsidiary of the same which was making loss before the Apollo Tyres bought it from its Russian owner. As an action plan, Apollo pumped in enormous effort to take the manufacturing capacity of brand from 5.5 million tyres to 7 million tyres p.a. and since then the organization is ripping good fruits.
“The new range will target high-end cars in the country, it will complement our existing brands. We are targeting monthly sales of around 5,000 tyres to start off in the after-market replacement segment,” Apollo Tyres‘ chief for the India operations Satish Sharma told reporters in Delhi on Wednesday.
Giorgetto Giugiaro is the man behind design of tyres, who is basically an renowned Italian automotive designer. Company hopes for the sales of 5,000 tyres in India per month. Apollo Tyres is presently manufacturing these tyres in Holland, but would consider India too for the manufacturing if found the markets and other factors lucrative.