JK Tyre saw green shoots in tyre sector demand revival in December 2019. In pursuit of its long-term growth plans and to combat the temporary slowdown in the original equipment manufacturer market, JK Tyre has adopted a twin strategy to increase its revenue from replacement and export markets.
JK Tyre has developed specific products for international markets with a view to enhancing its market presence and improving its exports globally. The company has recorded an impressive growth of more than 40 per cent in export sales in December 2019, as compared to corresponding month of 2018. Exports accounted for 11 per cent of its total revenue during 2018-19. Meanwhile, exports are expected to register a growth of more than 50 per cent during 2019-20. In the domestic replacement market as well, the company increased its sales by more than 18 per cent in December 2019, on a year-on-year basis.
A part of the JK Organisation, JK Tyre and Industries Limited is a leading tyre manufacturer in India and amongst the top 25 manufacturers in the world. The company has a wide range of products catering to diverse business segments in the automobile industry. JK Tyre is the only tyre manufacturer in India to be included in the list of Superbrand in 2019. It has a presence in 100 countries across six continents, backed by production support from 12 plants – nine in India and three in Mexico.