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Neumex has rolled out its range of products across six categories targeting the replacement market.
The tyre brand promoted by industry veteran, Ravi Shankar, CEO and MD of Neumex, and three others, has adopted a lean model wherein they design and get the tyres manufactured at a third party facility and market them under their brand. As against a layered sales network, it is factory to retail outlet model.
“We have introduced for six major categories, which include two and three-wheelers, small commercial vehicles, light commercial vehicles and farm equipment and will gradually step up the range,” Ravi Shankar told BusinessLine .
The replacement market is huge and growing at a rapid pace in the country's automotive sector. India has overtaken China to be No.1 in the two and three-wheeler segment, with a sale of more than 18 million vehicles last year. It is estimated that about 75 lakh (7.5 million) tyres and 200 lakh (20 million) tubes are sold every month in the same segment.
“The market offers huge opportunity to cater to the aftermarket, where more than 50 per cent of the market is served by the unorganised sector. We are also looking at exports,” he said.
Neumex has begun operations in Hyderabad and Secunderabad and gradually plans to cover AP and Telangana and then the South and follow this up with a pan-India presence in a phase manner, he said.
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