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With India overtaking its neighbour China to become the world’s no. 1 two and three-wheeler market, a new name in the highly competitive Indian tyre industry has sprung up, Neumex tyres. The company has launched its range of products in six categories and aims to target the replacement market.
Neumex Tyres has adopted a model wherein tyres are designed in-house while a third-party production facility is availed for manufacturing them. These tyres are then marketed under the Neumex brand. The company is following factory to outlet model rather than a layered sales network model.
Speaking to press, Ravi Shankar, CEO and MD of Neumex Tyres said, his company is focusing on farm equipment, light commercial vehicles (LCV), two and three wheelers and small commercial vehicles (SCV). He was also of the view that, the replacement market is expanding at a great pace in India’s automotive sector. The country sells 20 million tubes and 7.5 million tyres every month approximately. With over 50 percent market being served by unorganised sector, there is a huge opportunity to cater aftermarket segment. Mr. Ravi Shankar also indicated that Neumex tyres is also looking to feasible opportunities for exports.
Currently, Neumex Tyres has started operations in Hyderabad and Secunderabad in Telangana. However, the company has plans to expand its operations to the neighbouring state of Andhra Pradesh soon and in the other states later on. According to its management, Neumex will gradually establish a pan-India presence by the year 2021 in a phased manner.
What makes Neumex Tyres Limited distinct is the fact that it has an extensive research of two years behind it and it has developed its tyre designs, tread patterns and compounds especially according to the Indian road and weather conditions.
