Nexen increases Italian market focus
Hot on the heels of the news that growing Korean tyre manufacturer Nexen has secured OE supply to Fiat, the firm has revealed details of its plans to expand in the well-known marques domestic Italian market. With a replacement market potential of over 30 million tyres a year in the passenger car segment, Nexen has suggested Italy is one of its key countries for expansion in Europe.
The firm’s Italian branch was set up in May 2009 in order to manage not only Italy but also other key countries like France, Spain, Portugal, and Turkey. Between 2009 and 2011, thanks to an increase in sales activity, the number of tyres sold in Italy registered what the company calls “a huge jump” and allowed Nexen to distinguish itself from other brands that were trying to penetrate the market at the same time. In 2011 the Korean company reports that it consolidated its presence through the acquisition of new customers and a general brand awareness increase.
As a result, 2012 is a crucial year for Nexen Tire. But this is also because of the company’s continuing overall strategy. This year Nexen’s commissions its third plan the Changnyeong, Kyeongsang-namdo part of Korea. For the company there is something poetic about commencing manufacturing at this plant in what is the 70th year since Nexen’s foundation. According to the company, original equipment business with “famous overseas car makers” is also expected to take a leap forward due to the expanded production output.
The Italian branch reports that it intends to contribute actively to Nexen Tire corporate goals and vision to become one among the top 10 tyre producers at worldwide level. In Italy, the main goal is to improve Nexen’s market share and profit through the introduction of new eco-friendly products (summer, winter, seasons), Nexen brand perception improvement, and by delivering an outstanding customer experience.
Marketing will play a pivotal role by streamlining communications with the headquarters and by providing the sales department with the necessary support and guidance to get closer and closer to customers needs.