In a bid to make good the lack of demand in domestic markets following prolonged slowdown in the auto industry, JK Tyres pushes for aftermarket sales and increased exports. Market leaders, J K Tyres, have noted increased overseas demand. Exports in FY2013-14 increased 23% which also included JK Tornel, Mexico taking consolidated exports to INR 1,605 crores.
JK Tyres took over Tornel, a Mexican company with three plants in Mexico in 2008 and added Nissan and Volkswagen to their list of OEM clients. Now, the plant has started supplying JK tyres to Nissan cabs, making JK Tyre the first Indian brand to be used by taxis in New York.
Following the recent addition of five new export markets, the company now has a presence in over 100 markets. In domestic markets, despite plummeting demand and low car production, JK Tyres has managed to increase market share in the replacement markets in various categories from truck to bus radials, making the company market leaders to light commercial vehicles, car radials and farm and off road vehicles.
via Economic Times