Tyre manufacturer Maxxis India bets big on regional markets as it plans to capture 5% market share in Karnataka by this year. The company said Karnataka is one of its fastest growing two-wheeler markets in India.
To meet this target, Maxxis will focus on the top level tyre dealer showrooms to promote the range of high-quality tyres, both for the scooter and motorcycle segment. The company said it will also strengthen the current channel partners and dealer network with a focus on engaging customers oriented towards performance and quality.
Commenting on the business plan, Bing-Lin Wu, Marketing Head, Maxxis India, said, “As we progress in the year 2021, we want to strengthen our regional footprint. The last five years gave us a good headway and we managed to establish our feet on the India map.”
He said the company is fully committed to the government’s ‘Make in India’ initiative and its key focus is to fulfil domestic market in the south region. “Karnataka has good market potential for motorcycle as well as scooter tyres. Our strategy is to expand premium dealerships that will play a vital role in preparing our ground for the future development in this market.”
The globally acclaimed brand with over five-decade-old legacy has made inroads into the Indian manufacturing landscape since 2015. The company said its ‘Made in India’ products have over the years gathered much respect from within the industry and from two-wheeler manufacturers.
Maxxis India is targeting to capture a market share of at least 15% of India’s two-wheeler tyre market by 2023. It said India market is touted to play a vital role in achieving Maxxis’s global vision to become one of the top five tyre manufactures in the world by 2026.
Apart from catering to the domestic tyre market, the product portfolio from the Sanand, Ahmedabad facility will be exported to South Asia and will further expand to Africa and Middle East countries in the coming years. The company also has plans to set up five more plants in India which will also cater to the 4-wheeler tyres market.