Snapshot of Indian Tire Industry
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The Indian tire industry is dominated by a few large players. Continental and Bridgestone each hold around 27% and 19% of the market share respectively. The industry has seen growth in revenue, EBITDA, and ROCE from fiscal years 2013 to 2015. Tire dealers play an important role in brand building and financing for customers. There are over 4000 tire dealers across India in various formats, including multi-brand dealers, single brand exclusive showrooms, and company-owned outlets. A large number of car tires are also imported into India from countries such as Philippines, Japan, and South Korea.
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Snapshot of Indian Tire Industry
- 1. Copyright – Suranjan Das Snapshot of Indian Tire Industry Suranjan Das
- 2. Copyright – Suranjan DasCopyright – Suranjan Das Indian Tire Industry Performance & Market Share 27% 19% 16% 12% 26% 2 Continental Bridgestone Goodyear Yokohama Michelin Ceat Tyres JK Tyres Apollo Tyres MRF 98 20 18 PC LCV HCV Radialization(%) Source: indiatrade.com. 2015 report 0% 50% 100% Truck / Bus PC LCV Tractor Front Tractor Rear Scooter Motorcycle After Mkt./Govt. OEM Export 72% 28% 71% 23% 6% Revenue Segment Revenue Customer APMEA EA After Mkt OEM Export 128 133 127 16 20 20 18% 24% 24% 0% 30% 0 160 FY13 FY14 FY15 Net Sale EBITDA ROCE% Rs. B 123 133 18 20 28% 25% 0% 30% 0 160 FY13 FY14 FY15 Net Sale EBITDA ROCE% 51 56 58 4 7 7 24% 29% 27% 0% 30% 0 160 FY13 FY14 FY15 Net Sale EBITDA ROCE% 70 77 6 8 15% 20% 0% 30% 0 160 FY13 FY14 FY15 Net Sale EBITDA ROCE% Rs. B Consolidated Consolidated ConsolidatedRs. B
- 3. Copyright – Suranjan DasCopyright – Suranjan Das Dealers Across India 4000 - 5000 Fully Equipped Tyre Service Center Tyre Care centers On Highways Exclusive Passenger Car tyre Retailing Major Cities Tractor Tyre Care Center Exclusive Outlet 1000 + Single Brand Multi Brand Selling Channel & Brand Building 3 Brand Building • Racing: • Partnering with Government on Road Safety Initiatives • Working closely with Farmers on New Technology • Working Closely with The Truckers • Working with Technical Instituted (IITs; Universities) - Sponsorships Dealer Service • Dealers of commercial vehicle tyres and passenger segment tyres are different, though some overlap does exist. • Finance Assistance: • Dealers of commercial vehicle tyres also financing purchase of tyres for commercial vehicles and agricultural tyres. • Dealers are also an important link between the tyre companies and the end consumers and replacement / warranty schemes are implemented by the companies through the dealers
- 4. Copyright – Suranjan DasCopyright – Suranjan Das Channel Characteristics • Dealers : Multi Brand (different companies); Single Brand; Company owned exclusive showrooms. • Dealers of commercial vehicle tyres and passenger segment tyres are different, though some overlap does exist. • Dealers of commercial vehicle tyres also financing purchase of tyres for commercial vehicles and agricultural tyres. • Dealers are also an important link between the tyre companies and the end consumers and replacement / warranty schemes are implemented by the companies through the dealers. 4
- 5. Copyright – Suranjan Das Car Tyre Import into India 46% 29% 8% 7% 3% 7% Sales by Volume 33% 9% 9% 3% 8% 38% Sales by Value Philippines Japan South Korea Others Thailand China Philippines Japan South Korea Others 0 500 1000 1500 2000 2500 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2013 2014 2015 Average Price Per Unit (INR) 0 10000 20000 30000 40000 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2013 2014 2015 Total Quantity imported per month Source: https://www.zauba.com/importanalysis-CAR+TYRE+195/hs-code-4011-report.html