In an effort to acquire a greater market share in the premium tyre segment, CEAT has introduced a line of premium steel radial tyres, which is set to be directly marketed to consumers.

The steel radial tyres, which were previously exclusively produced and distributed to Original Equipment Manufacturers (OEM), will now be accessible in the aftermarket.

Arnab Banerjee, the Managing Director and CEO of CEAT, shared, "Premium tyres have been a focal point for a few quarters, and the category is performing well. Consumers across various segments are willing to invest more in tyres. Although steel radial tyres constitute only 3 percent of the overall motorcycle segment, they are gaining significance. The product is characterised by its premium quality, including the advanced technology it incorporates. This segment contributes positively to margins, presenting a substantial opportunity. Our goal is to emerge as market leaders in this segment."

The steel radial tyres boast a construction with steel-belted radial design, ensuring superior handling at high speeds. These tyres are engineered to deliver stability at speeds of up to 270 mph.

Additionally, the company plans to extend its reach to rural areas and increase its touchpoints in the calendar year 2024. Having already made inroads into 615 districts and 10,000 towns, CEAT has formed collaborations with establishments selling Fast Moving Consumer Goods (FMCG) and essential products in rural markets.