Apollo Vredestein Plans to Expand its Product Portfolio
Italy: Apollo Vredestein Dutch is
going to expand its product portfolio by adding nine new tire sizes to its
Vredestein Traxion85 range at the upcoming EIMA trade event, to be held at
Bologna, Italy. By launching new sizes of tires in various vehicle segments,
the company is likely to serve its customers in a better way all over the
world.
To cater the entire European
and North American market, Apollo Vredestein would design and sell its high quality
Traxion85 tires across the region. By adding the new range of tires, the
company would offer a complete range of 80/85 tire series, globally.
The new Traxion85 tire would
follow the similar characteristic of curved lugs along with a combination of
advance traction and comfort.
As per TechSci Research, Apollo
Vredestein would initially launch its new tire portfolio in Italy, at the
upcoming event. Moreover, with the growing demand for tires in the country, the
company is expected to tap the tire market of Italy in an appropriate way, in
coming years. Additionally, the company is going to launch the range of tires
for different vehicle segments in entire European region, which would further
influence the future tire sales of company.
According to a recent report
published by TechSci Research, “Italy
Tyre Market Forecast and Opportunities,
2020”, the
country is a leading automobile production hub in entire Europe, as Italy is
home to a number of automobile manufacturing units. The country also recorded a
high vehicle motorization rate (passenger car and commercial vehicle) of 686
vehicles per 1000 people in 2013. Despite a growing automobile fleet and high
motorization rate, Italy tire market registered negative CAGR in volume terms
during 2010-2014.