After watching its competition reach success there, Continental AG is now looking ahead to enter the Indian tire market.
"India is one of the key markets for our future growth and Continental AG is interested in the passenger car tire market as well as looking for opportunities to enter the market," said Helmut Matschi, member of Conti’s executive board.
Still, Conti has no immediate plans or a timetable for when it will enter the competitive Indian tire market. “It is too early to say how it rolls out and when we will enter the market," said Claude d’Gama Rose, managing director of Continental India.
Under a joint venture with Modi Tyres, Conti does have a presence in the country. Modi produces and sells truck tires under the Continental brand name there.
But with India’s passenger tire market growing rapidly – 35% to 40% per year, according to reports – and the commercial segment continuing its 50% annual growth rate, Conti sees opportunities to expand beyond a joint venture.
Rose said Conti will invest in technology and R&D, and boost its technical employment rolls in India by 30% this year; most of its current head count work with tire service providers.
