TEHRAN, Iran—Moves to lift trading sanctions against Iran has prompted Apollo Tyres to expand its supply of truck-bus radials in the country.
According to the Indian tire-maker, new variants of its Endurace range of TBR tires were introduced to the 75+ Business Partners in Iran—in association with Apollo distributor Alton Rah Tohid Jonob Khozestan Coop Co.
“With high expectations of lifting of the economic sanctions on Iran by countries across the globe, the Iranian economy is expected to grow rapidly,” Apollo said in a June 11 release.
The wavering of the sanctions could “also result in increased freight movement across the country, which is what, Apollo expects to further leverage upon,” the company added.
Apollo has already been selling its truck-bus radials in the Middle Eastern country for past two to three years.
“With the introduction of new variants of Apollo Endurace—MA737, HA, HD and RD—the company is now targeting towards significant increase in its sales of truck-bus radials in the country by the end of the current fiscal [year],” the firm said in a statement.
Apollo said that its range of truck-bus bias and passenger vehicle tires have also been received positively in Iran. The company said it has dominated the truck-bus bias category for the last few years in the country.
The firm said it would also introduce its off-highway tires into the Iranian market going forward.
Apollo estimates the size of commercial vehicle tire market in Iran at around 300,000 tires per month, of which 60 percent are radials.