Tier 2 cities driving demand for tyres.
06 Jul 2022 | 3558 Views | By Autocar Professional Bureau
Fuelled by high demand in tier 2 cities, this monsoon’s online searches for tyres shot up by 51 percent, according to a report by Just Dial Consumer Insights. The report said the top-three searched brands were MRF, Apollo, and Bridgestone, accounting for 77 percent of all online searches.
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Fuelled by high demand in tier 2 cities, this monsoon’s online searches for tyres shot up by 51 percent, according to a report by Just Dial Consumer Insights. The report said the top-three searched brands were MRF, Apollo, and Bridgestone, accounting for 77 percent of all online searches.
The study said demand for tyres during the April-May-June quarter rose by 51 percent YoY and 20 percent quarter-on-quarter. Online search in Tier 2 cities shot up by 67 percent YoY while in Tier-I cities it remained stable. Tier-I cities also saw a 14 percent quarter on quarter growth while in Tier-2 cities, it was marginally ahead at 18 percent. Demand for car tyres rose by 54 percent (YoY) while that for two-wheelers remained stable across the country.
Prasun Kumar, chief marketing officer, Just Dial said, “The jump in demand for tyres is in line with the overall sentiment in the passenger vehicle segment that has remained in the green on a YoY basis backed by some new launches. The rise in demand for tyres across the country has been driven by Tier 2 cities that are witnessing a growth rate in demand higher than the national average.”
Apart from MRF, Apollo, Bridgestone, the other top-searched brands included CEAT, JK, Goodyear, Michelin, Yokohama, TVS, and BKT.
City-wise, New Delhi, Mumbai, Bengaluru, Chennai, and Hyderabad are the top-5 markets in Tier-I cities that saw maximum demand for tyres. MRF saw the maximum demand in Delhi, Chennai, and Hyderabad while Apollo’s top-3 markets were New Delhi, Mumbai, Chennai, and Bengaluru. For Bridgestone, most online searches came from New Delhi, Mumbai, and Bengaluru.
Among Tier2 towns and cities, the maximum traction for tyres was from Chandigarh, Coimbatore, Jaipur, Thiruvananthapuram, and Lucknow. The demand growth rate (YOY) for MRF and Apollo in Tier 2 markets was around 58 percent each while for Bridgestone it doubled.
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