Apollo in link-up to enter Saudi Arabia market

Riyadh – Apollo Tyres Ltd has entered the Saudi Arabian market through a tie-up with tire distributor Al-Jomaih Tyres Co. Ltd, Apollo announced 2 Dec.
The Indian group said it aims to “capture a sizeable market share in the next couple of years,” focusing on truck-bus radial and passenger car tire sectors. 
Saudi Arabia has a market potential of around 22 million tires, according to Shubhro Ghosh, Apollo‘s group head, ASEAN, Middle East & Africa.
“We have set a very aggressive target… of selling nearly 800,000 tires per annum, including both commercial vehicle and passenger vehicle tyres, within the next five years,” said Ghosh. 
Apollo, he added, expects its partnership with Manchester United football club to help position the group’s brand and products in the Saudi market.
Tires sold in Saudi Arabia will be customised to meet the local market requirements and be covered by a five-year warranty from the date of manufacturing. 
The premium tier 2 market in Saudi is expanding rapidly, and Apollo “meets the need of local customers who are seeking quality products at competitive prices,” said Sheikh Abdullah Al-Jomaih, CEO, Al-Jomaih Tyres. 
Apollo set-up a hub for the Middle East and Africa region in Dubai in 2011 and has since expanded its presence rapidly across the region, according to its statement.