With the original equipment manufacturer (OEM) business remaining flat for many tyre makers in the wake of a slowdown in the auto sector, JK Tyre & Industries Ltd has begun to rely more on the replacement segment to gain market share.
“We expect the replacement market to pick up on the back of a good monsoon and the country expecting good agricultural production,” V A J Manikantan, Head-Sales (South & West), JK Tyre, told Business Line .
OEMs have cut down production at most of their plants to limit their losses.
With this changed scenario, JK Tyre has shifted its strategy to focus on the replacement market. “This change in strategy has paid off. We have gained market share. Currently, we command about 30 per cent share in trucks and bus tyres market,” said Manikantan.
“The company has been gaining market share in the replacement business for over a year. Now, we are investing substantially on the services side and to strengthen it,” he added.
The company is rolling out JK Tyre Truck Wheels Centres, which is equipped with technically advanced equipment to provide solutions to all truck and bus tyres and alignment-related needs.
“We plan to open 20 Wheels Centres. At present, we are have rolled out 12 centres and plan to operationalise nine more by end of this fiscal,” he said.
The company opened its first centre in Bangalore on Thursday.
The Wheels Centres-cum-showroom is spread over 8,000 sq ft and has a nitrogen inflator machine, air compressors, greasing pumps, pneumatic wrenches and a generator set to ensure end-to-end truck and bus tyre care.
anil.u@thehindu.co.in