Industry News

Michelin Expand its Commercial Vehicle Tire Portfolio

India: World’s leading vehicle tire manufacturer, Michelin, has launched it’s ‘X Guard’ radial truck tire in India, which is priced at about USD277. Initially, Michelin X Guard tire would be available across eight states of the country targeting the medium & long haul and general goods carriers price sensitive transporters.

"The new Michelin X Guard is a demonstration of the commitment of the Michelin Group to bring the most advanced tyre technologies to India," Michelin India Commercial Director Mohan Kumar said in a statement. He further added that the Indian market is evolving rapidly and it was important for the company to adapt as per the changing needs of Indian consumers.

"Michelin X Guard, built exclusively for the Indian market, is a paradigm shift from the Indian consumer's view point. This product is a true reflection of the 'more for less for more' philosophy that combines the best of Michelin proprietary technologies to deliver a high quality product, but at an attractive market price," Kumar said. He also stated that the company expects this new product to attract a wide customer base to the Michelin brand.

The company is strategically moving forward by limiting the quantities of this new product among eight states during the coming year and then expand the distribution range to the entire country. The tire is being sold through authorised Michelin dealers across Haryana, Madhya Pradesh, Maharashtra, Gujrat, Karnataka, Telangana, Andhra Pradesh and West Bengal at a price of nearly USD277.

According to a recent report published by TechSci Research, India Tire Market Forecast & Opportunities, 2021’’, the country’s tire market is forecast to witness a CAGR of over 9% during 2016-2021. Though the replacement tire demand had a majority share in 2015, the OEM tire demand is expected to outpace replacement tire demand during 2016-2021. In 2015, Northern region accounted for the largest share in India’s tire market, followed by Southern, Eastern and Western regions of the country.

As per TechSci Research, by expanding its commercial vehicle tire portfolio, Michelin would be able to tap huge opportunities for growth as the commercial vehicle tire market is expected to incline at a rapid pace across the country, in coming years. Moreover, the company can extract a fair share in the Indian tire market through increasing its customer base in commercial vehicle tire segment.

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