Tyre company Ceat hopes to achieve leadership position in the two-wheeler tyre segment and consolidate its position in the passenger car radial tyres in the near term.

Ceat claims Number 2 position in the 2.5-million motorcycle tyre segment (replacement market) with about 30 per cent share. “These are estimates and we are definitely close to Number 1 player MRF. We intend to achieve leadership position in the two-wheeler segment. We would also want to grow significantly better in passenger car radial tyres,” Nitish Bajaj, Vice-President – Marketing, Ceat Ltd, told BusinessLine .

Ceat has been recording higher than the industry growth in the two-wheeler tyre segment.

“While the two-wheeler segment was growing at a CAGR of 9-10 per cent in the past 4-5 years, our growth was double that of industry growth. We intend to continue and strengthen this momentum,” he added.

Along with the strong growth curve, the company expects its wide product range and higher spend on consumer communications to help improve its share in the two-wheeler tyre segment.

“We offer the widest range and have four different platforms in our motorcycle tyre offerings – Grip for best-in class safety, zoom for high speed safety, secure range for affordable and value conscious consumers and mileage for long lasting performance,” Bajaj explained.

The company is also working on consumer-centric initiatives and mass market product innovations to support its growth plans.

Ceat was the first to introduce tubeless tyres for tube type bikes. Now, the company has introduced its new range of ‘puncture safe’ tyres for motorcycles.

These tyres, which come in seven different sizes, will be useful in small towns where there are no adequate repair facilities and poor availability of spare tyres, he said.

“Our investment in brand building, new consumer communication and social media engagements will continue,” Bajaj added.

comment COMMENT NOW