Giti Tire : Moving up in the industry at speed of sound.
When we talk tyres and the fast growing tyre manufacturers in the world, there are some brands which immediately come to mind. Though we all know the brands we are talking about here but today, we want to talk about a tyre brand that is slowly and steadily inching closer towards becoming the member of the big league by each day that passes. The global league that hosts the top 10 tyre manufacturing brands.
We are talking about Giti Tire.
A tyre manufacturer ranked #11 in the top 20 largest tyre companies globally, Giti Tire has its foot inside the door to enter the top 10 league. Now, here is a brand that has achieved the 11thposition as a top tyre manufacturers in the world in less than 25 years of its introduction. If we were to compare this growth with any of the other top tyre manufacturers, there are brands in this list who are 50 to 100 years old.
Is that enough for us to conclude that Giti Tire is one of the world’s fastest growing tyre companies at present? Maybe it is or maybe not. Let’s take a look.
To make sure that we make a fair assessment of their growth in the global industry, we decided to add the check points essential to gauge a tyre company’s strengths read on to know the results.
With sales worth US$ 3.5 billion we believe the Revenue takes care of itself in quiet a manner.
Giti Tire boasts of 8 manufacturing facilities across the world producing more than 55,000,000 tyres per year. If you do the maths on that it comes to around 100 tyres manufactured in every minute that passes by.
Production capacity √
With a production capacity as such, a manufacturer also needs to have a channel to accommodate the sales. How do they do it? Over the years Giti Tire has not only managed to increase its manufacturing capacity, the company has been equally dedicated to building a global sales channel and has sellers in 130 countries with 65000 retail outlets across the world. That we believe takes care of the manufacturing and sales. Hence, making sure that the company has its revenue model on a smooth track.
With 5 R&D centres including one each in the USA, U.K. and Germany along with exports to 130 countries ranging from European, Asian, and North American markets, Giti Tire is certainly on the right path with its technological advancement, R&D facilities and manufacturing capabilities to ensure delivery of quality products. Just what is expected from a tyre manufacturer so close to breaking in to the big league.
This again is one of the check points to measure the growth of a tyre manufacturer which we believe is a must when it comes to the company health evaluation. As a tyre manufacturer, one would want to showcase its products at the highest level possible.
Sports and Performance DNA √
Car racing is one such level of competition that differentiates between the pretenders and the contenders. In Giti Tire’s case let’s use the term ‘Super Car Racing.’
Tyres from Giti Tire are used exclusively in the Lamborghini GT Sepang Malaysia event, apart from Giti being the official tyre for the Formula masters China Series.
That is credible enough for us to concur that commitment to research, quality and technology through showcasing Giti Tire’s performance tyres.
Environment conscious √
Giti Tire has managed to reduce its consumption of water usage per ton of product by 33% and for coal usage they have managed to reduce the consumption by 26%. This shows Giti Tire’s commitment to becoming an environment conscious company.
Giti Tire is fitted on to more than 550 vehicle models worldwide.
We decided to scrape the surface a little more and spoke to Giti Tire‘s representative here in India.
According to the company’s representative, Giti Tire is facing 2 fold challenges in the Indian market at present.
The most clear and present of them all is that of getting a foothold in the distribution channels and dealer shelf space. The second challenge he said faced by the company is that of Branding and to build its popularity in the consumers’ mind.
Although, these are hurdles that team Giti Tire is confident of facing these challenges head on. Afterall, the experience of doing the same exercise in 130 other countries on the planet cannot just be a lucky strike. There is more to this manufacturer than what can be seen on the surface. Time to wake up and take notice.
Giti Tire really is moving up in the industry at speed of sound.