Company president Arun K Bajora told the Financial Express: “We are examining the possibility of entering into the two-wheeler and the three-wheeler space. We want to offer a complete package to the dealers and customers.”
At present, JK Tyre specialises in supplying both radials and bias tyres for passenger car, truck and agricultural vehicles in its homeland and holds a 25 per cent market share in the almost £2 billion domestic market. However, motorcycle and three-wheeler production in the 2006-07 year stood at around 26 million units, an increase of 24 per cent over the previous year. This is higher than any market segment apart from tractor-trailer tyres, and perhaps too tempting a growth not to capitalise on. In contrast, the overall Indian tyre market only grew by 11 per cent during the same period.
This is not the first occasion JK Tyre has expressed its interest in re-entering this market sector. In October, 2004, Bajora said: “We are looking at the two and three-wheeler tyre markets. The growth in the segment has been absolutely mind boggling and we are interested in having a presence in every segment of the tyre market,” and several years prior to that, the company spoke of plans to begin selling motorcycle tyres before the end of 2001.
