The Board of Directors at Apollo Tyres has approved the company’s unaudited financial results for July to September 2023 (Q2 2023-24). These show revenue of Rs 62.80 billion (£612.78 million) in revenue in the quarter ending 30 September, a 5.4 per cent year-on-year increase. Apollo Tyres shares that revenue growth was especially positive in its Indian Operations business.
Apollo Tyres has agreed a distribution deal with GEFCO to supply tyres to customers in France. According to the company, Apollo Tyres began integrating GEFCO into its supply chain in May. Since then, the partnership has reportedly cut average lead times to under four days and improved the overall ordering and delivery experience for customers.
Apollo Tyres will partially rebuild its primary tyre warehouse in Enschede, the Netherlands to “improve operational efficiency and reduce its environmental impact”. Scheduled to reopen in February 2025, investment in the 25,000 m2 warehouse is said to reflect Apollo Tyres’ “long-term commitment to production in the Netherlands”.
Almost a year after presenting its first dedicated Long-Haul Trailer (LHT) tyre, Apollo Tyres has commenced deliveries of the Apollo EnduMile LHT. The tyre maker says EnduMile LHT provides “impressive levels of performance across the board,” including an A-rating for rolling resistance – a first for an Apollo Tyres truck tyre.
Production at the Apollo Tyres Ltd. OTR tyre factory in Limda, India has “fully resumed” after being stopped by industrial action, the tyre maker reported on 24 September. Apollo Tyres had announced on 20 September that tyre making at the Limda plant in had stopped due to “certain concerns amongst shop floor employees” relating to the renewal of a long-term settlement agreement.
According to a survey commissioned by Apollo Tyres, almost two-thirds of electric vehicle (EV) owners in the UK would prefer to purchase replacement tyres that have been developed specifically for use on this type of vehicle. A poll of 1,000 motorists showed that 64 per cent of EV drivers said they would favour EV-specific replacement tyres, compared to just one per cent who say they would be unlikely to choose these.
TMT Tanks & Trailers, the Italian trailer manufacturer, has selected Apollo Tyres’ EnduRace RT2 tyre as original equipment (OE) for its premium ‘moving floor’ truck trailers. TMT’s moving floor trailers feature specialised loading and unloading systems that allow the unloading of bulk material without the need for tilting mechanisms.
Apollo Tyres’ 2022 launch of the Vredestein Quatrac Pro EV represented a first for the manufacturer as it brought to market Europe’s first dedicated all-season electric vehicle tyre. It has since added additional sizes to boost EV segment coverage. The tyre features a range of advanced design features and high-quality materials, delivering impressive levels of grip and traction in all conditions, while also promoting range via low rolling resistance and lighter construction. It is also designed for a quiet and comfortable ride. Apollo leveraged Vredestein’s experience in supplying all-season tyres dating back to the early 1990s, with the Quatrac Pro EV spearheading its move into specialised products for the emerging EV tyre segment, while also diversifying further its portfolio for the fast-growing European all-season tyre segment. “We are proud to pioneer this segment and will continue to lead the market with innovative products that cater for the next generation of vehicles,” Benoit Rivallant, president and CEO at Apollo Tyres Europe, told Tyres & Accessories.
The Board of Directors at Apollo Tyres Ltd. reports a 124 per cent increase in net profit during the three months to 30 June 2023, the first quarter of the company’s 2023-24 fiscal year. Chairman Onkar Kanwar credits the efforts of Apollo’s European business towards this result.
Success isn’t always about greatness – it’s about consistency. Consistent hard work leads to success. Greatness will come. With these words, Onkar Kanwar opened his company’s 50th Annual General Meeting, singling out consistency as Apollo Tyres Ltd.’s mantra and a quality that in 2022 helped the tyre maker achieve annual revenues in excess of US$3 billion for the first time.
A survey commissioned by Apollo Tyres has found that a clear majority of European motorists would not attempt to deal with a tyre puncture at the roadside themselves. Just 46 per cent say they would use the car’s supplied spare tyre or inflation kit, compared to 32 per cent that say they would instead call on a vehicle breakdown service for assistance, and 16 per cent who would seek help from a family member, friend or colleague.
The Apollo EnduRace RT2 truck trailer tyre range is growing with the introduction of a new 385/55 size option for 22.5-inch rims later this month. Apollo Tyres developed the EnduRace RT2 for Europe and manufactures it here too; the tyre maker says the range “delivers superior standards of all-weather performance, rolling resistance, and enhanced mileage and durability.” It adds that the tyre “remains a highly cost-effective solution in an intensely competitive segment” despite premium performance.
It is now almost two years since Apollo Tyres introduced Vredestein tyres into India, with the company using its vast network of business partners to sell the brand. On 23 June it inaugurated the country’s first Vredestein outlet and intends to follow the opening of this branded centre in Bengaluru with further Vredestein outlets in “all the key metropolitan cities in the country with a significant vehicle park of high-end cars and superbikes.”
There are many changes in our latest leading tyre manufacturers ranking. The 2023 table, which lists the world’s leading tyre companies according to their full-year 2022 financial results, particularly highlights the shifts that have taken place this year in the second half of the top 20. Meanwhile, the top nine tyremakers appear to be an increasingly stable group. Between places nine and 10, there is still a gap of some 1 billion euros, something that is clearly hard to overcome for newcomers. However, as insurmountable as it appears, the gap is obviously narrowing.
Apollo Tyres has bolstered its Vredestein agricultural tyre range with a further six sizes of the Traxion Optimall VF. The new additions focus on bringing the tyre to powerful tractors of 160hp and above. The Traxion Optimall series boasts good self-cleaning properties, grip, comfort and a long tyre life, the manufacturer states. The six new sizes are: VF750/70R44, VF900/50R42, VF650/65R38, VF650/60R38, VF710/55R30 and VF540/65R28.
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