Industry News

Giti to replace its flagship brand in Europe Commercial Vehicle Tire Market

Germany: Under its new initiative for commercial vehicle tire product line, Giti has planned to replace its GT Radial truck and bus tire brand in entire Europe by 2017. The plan was commenced by the company executives at the Reifen 2016 held in Germany.

The representatives of European subsidiary of Giti, stated that the company is also planning to launch a mixture of new tires, namely, Giti GAM851 mixed service steer & trailer tire and Giti GDR655 regional drive axle. Both the tires were introduced by the company at Reifen 2016 and would make up for the existing range of Giti CV tires.

As per United Kingdom, Managing Director, Brian McDermott, the GT Assist network would be moved to Giti branding “at the appropriate time”. Also, it was finalized that the company would promote its brand new GT Radial passenger car tire with a badge “A Product of Giti” on the sidewall, which was earlier seen on the UHP GT Radial Sport Active tire by the company.

According to a recent report published by TechSci Research, “Germany Tyre Market Forecast and Opportunities, 2020” with the production of over 11.66 million vehicles in 2015, Germany is the largest economy in Europe and is also one of the leading tire markets, globally. Being one of the major exporting hubs for automobile producers, the country’s automotive industry is known worldwide for its high quality automobile manufacturing. High vehicle ownership coupled with moderate growth in new vehicle sales is boosting tire sales across the nation.

As per TechSci Research, during 2015, Giti deals in various vehicle segment across the region. By replacing its most eminent tire brand name in commercial vehicle segment of the region, the company would have to struggle with its brand identity in Europe, in coming years. However, by changing the tire brand name of one of the smallest vehicle segment in the region, the company can undoubtedly build a base for its future plans, for other vehicle segments.

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