Apollo launches Acelere Sportz

Mumbai, Nov 20 (UNI) Leading tyre major Apollo Tyres today launched ''Acelere Sportz'', a premium V-speed rated (safe up to 240 kms per hour) tubeless car radial for the rapidly growing A3 and above range of premium and luxury cars.

This premium tyre can be fitted in an entire range of sedans like Hyundai Sonata, Vema, Accent and Getz, the Fort Mondeo, Fiesta and Icon and Accord; GM Aveo and Corsa, Toyota Camry and Corolla, Skoda Octavia and Superb, Mercedez C, E and S class; and the Audi A4 and A6.

Addressing a press conference here today, company joint managing director Neeraj Kanwar said, ''The product has been extensively tested at Papenberg, Germany, against others in the same category, with results that make us proud to have developed this on our own.

While India will be the key market, Acelere Sportz will also be available to the demanding European customer.'' Apollo Tyres plans to sell the Sportz variant in the European market where there is huge demand for asymmetric tread pattern tyres, he added.

Currently, Mr Kanwar pointed out that Apollo commands a 15 per cent share of the tubeless radial market, with Acelere Sportz this is expected to grow to 20 per cent in a year's time.

Mr Kanwar said the company is set to consolidate its revenue to cross $1 billion in the year upto March 2007. ''We expect to be a $2 billion company by 2010,'' Mr Kanwar said.

The company plans to launch truck radials in six months, said Apollo's Chief Strategist Sunam Sarkar. Initially, the company will manufacture 20,000 truck radials per month, which will be ramped up to 80,000 units over five years, he said.

Around 9 per cent of the company's revenues come from passenger tyres while 75 per cent comes from the truck segment.

''The passenger tyre market is growing at 40-45 per cent and the truck segment is growing at 12-13 per cent, but the revenues will remain largely dominated by the truck segment,'' he said.

The Acelere brand contributes 15 per cent to Apollo's car tyre revenues, and this is expected to grow to 30 per cent, said Mr Satish Sharma, Apollo's Chief Operating Officer.

Replying to a question, Mr Sarkar said the new Sportz variant will be priced 15-20 per cent higher than normal passenger vehicle tyres.

UNI SN MAZ SKB1633