Bridgestone India is expecting around seven-eight per cent growth in the replacement demand this calendar year after seeing a disruption owing to multiple factors in 2024, a top company executive has said.
The Indian arm of the Japanese tyre company Bridgestone Corporation also said that along with increasing its product offerings, it is also expanding its market footprint by ensuring its presence in tier three and four towns of the country. The company in November announced a USD 85-million investment plan for enhancing production capacity and capability across its two plants in the country to reinforce its premium-mass strategy,
"We are focusing on providing premium products and services to Indian consumers as part of our mid-to-long term strategy with focus on sustainability at the core of our business. India is the fastest-growing market in our portfolio and our recently announced investments of USD 85 million is a reflection of our confidence in the Indian market," Hiroshi Yoshizane, Managing Director at Bridgestone India told PTI.
Stating that the company aims to be the premium mass leader in the passenger cars radial tyre segment in India, he said, "We have a very positive outlook as far as the Indian market is concerned."
"Last year (2024) saw a lot of disruption of demand owing to multiple factors. We see the demand coming back in 2025 towards around seven-eight per cent," he said.
These efforts, the USD 85-million investment plan, which kickstarts this year, are expected to increase total production capacity at the Pune plant by approximately 1.1 million tyres annually by 2029, Yoshizane said.
They will also improve capability to ensure premium tyre production at the Indore plant, he said.
