Industry News

Goodyear Launches SUV-Specific Tire in Malaysia

Malaysia: Goodyear launched a new tire which is specially designed for the mid-size SUVs and is named “Wrangler TripleMax”. The company believes that the new tire is designed to offer some specific features like road hazard resistance, superior performance in braking and shorter braking distance which is achieved through improved version of their exclusive Hydrogrip technology along with optimized carcass, high grip compound and innovative tread design.

“Goodyear is known for creating a culture of safety innovations that stay ahead of the competition. The unpredictable weather and road conditions in Malaysia calls for a tire that delivers on all fronts and the new Wrangler TripleMax delivers Goodyear’s continued brand promise for safer and more enjoyable rides for drivers and their families,” said Ben Hoge, Managing Director, Goodyear Malaysia.

According to Goodyear the decision to introduce this new product was based on the rapid growth of SUV segment in the country, which is expected to grow at around 12% annually between 2012 and 2020 as per the company.  Wrangler TripleMax tire is being offered in 16”, 17” and 18” sizes currently in the Malaysian market.

TechSci Research believes that this new product launch for the SUVs would give the company an access to a huge customer base present in Malaysia. Additionally, the country’s tire market is anticipated to grow at a fast pace and the company offering category specific product will provide a competitive advantage to the company in this growing market.

According to a recent report published by TechSci Research, Malaysia Tyre Market Forecast & Opportunities, 2020’’, replacement tire market in Malaysia accounted for around 73% market share in 2014, and this trend is anticipated to continue through 2020. Major factors driving growth in Malaysia tire market include increasing vehicle sales and expanding automobile fleet in the country. The tire market in the country is dominated by passenger car tire segment, followed by two-wheeler tire segment, which cumulatively captured a market share of about 90% in the country’s tire demand in 2014. Continental, Toyo Tires, Goodyear, Friendship Rubber Industry, Michelin, Bridgestone, Yokohama and Hankook are few of the leading tire companies operating in the country.

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