According to Vredestein, its growth strategy reflects segment volume and value trends. GfK consumer panel data shows a significant growth in the all-season tire market, specifically in the ultra-high performance and SUV sub-segments.
The European OEM says it is well placed to fulfill the UK demand highlighted by the latest data. Its extensive all-season tire range is perfectly positioned to meet this increasing demand, as data shows a significant growth of all-season fitments in the SUV segment (15% increase versus previous year*) and an even more dramatic increase in the fitment of ultra-high performance tires (all-season grew 40% over last year*); additionally this ever-growing segment favors premium products over budget tires.
“Marked growth in the all-season tire sector (up 9% overall*) is not unexpected news because we have seen that trend building for the last few years,” commented Karl Naylor, country manager, UK, Apollo Vredestein.
“We have been investing in the development of all-season tires for over two decades and offered both SUV and UHP tires in all-season variants long before many of our rivals.
“For a brand like Vredestein, it is reassuring to see that such growth is achieved at the expense of budget tires: 48% of all-season sales are premium tires (up 4%*). UK consumers driving SUV and ultra-high performance vehicles seem to be more and more aware of the benefits of all-season tires, as well as the rationale behind choosing quality over cheap products. Both trends sit very well within Apollo Vredestein’s continued growth strategy and plans.”
*Source: GfK Point of Sales Tracking, July-June 2016-2017 vs July-June 2017-2018