Apollo preparing for TBR sales surge in Iran, anticipates post-sanctions boom
Some 300,000 commercial vehicle tyres are sold in Iran every month, reports Apollo Tyres, with radials accounting for approximately 60 per cent of the total. The tyre maker began selling TBR tyres in Iran more than two years ago and now states that it aims for an unspecified but “significant” increase in sales of these products in the country before the current financial year ends on 31 March 2016.
In association with local distributor Alton Rah Tohid Jonob Khozestan Coop Co., on 10 June Apollo Tyres introduced its Iranian business partners – currently more than 75 partners represent the brand within this market – to the newest fitments in the Apollo Endurance range, the MA737, HA, HD and RD.
Apollo also sells passenger car tyres and cross-ply truck and bus tyres in Iran, and claims a dominant position within the country’s cross-ply truck and bus tyre market. The company also intends to introduce its off-highway tyre range in Iran, however has not announced any timetable for these products’ introduction.
The Indian tyre maker sees “high expectations” of a lifting of economic sanctions against Iran, and believes that this will be followed by rapid growth in the Iranian economy. “This will also result in increased freight movement across the country, which is what, Apollo expects to further leverage upon,” writes the tyre maker in a statement.