This is Continental AG’s first direct tyre initiative in the Indian market as it recognizes the present and future potential of the country. As a global company, and with a current yearly production volume of more than 100 million tyres, it intends to develop a strong presence in the Indian aftermarket as well as seize possible opportunities with OE manufacturers.
Speaking on the occasion, Dr. Andreas Esser, Executive Vice President – Replacement Asia – Tyres, said: “The launch is a part of our overall growth strategy and commitment to the Asia Pacific region. We have two Passenger and Light Truck (PLT) tyre manufacturing locations in Asia (Malaysia) and worldwide presence in 22 sites in 14 countries. We have already been marketing our products in almost all the countries in the Asia Pacific region. Now Continental Tyres is starting in India. Continental has the No.1 position in the European tyre market and a leading market position in Malaysia, and we strive to develop a significant share here in India as well.”
Mr. Prashant Kumar, Director – Marketing and Sales Tyres for India, said: “India’s passenger car production has grown from 0.72 million in 2002-03 to 1.76 million in 2007-08 at a rate of 20% CAGR and, accordingly, tyre requirements in OEM and replacement markets have grown close to 17 million in the current year. Continuous economic development and global exposure have brought in significant demand for high quality tyres, resulting in a huge market in this segment. Continental is entering the aftermarket for this segment, with its world renowned premium tyres that offer superior performance along with state-of-the-art safety and comfort features.”
Continental in India is backed by the rich legacy of service of 50 years in the Indian automotive market. With its technical expertise, it is constantly growing with the Indian market. Continental evolved from being a technology provider and technical collaborator to some of the leading Indian tyre manufacturing companies to being a major player in the auto component sector by supplying auto electronic and mechatronic components to the automotive industry.
With targeted annual sales of Euro 25 billion for 2008, the Continental Corporation is one of the top automotive suppliers worldwide. As a supplier of brake systems, systems and components for the powertrain and chassis, instrumentation, infotainment solutions, vehicle electronics, tyres and technical elastomers, the Corporation contributes towards enhanced driving safety and protection of the global climate.
