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Today, Goodyear Tyres announced its entry into the automotive lubricant segment in India. The American Tyre manufacturer revealed its partnership with Assurance International, a part of Satya Group in developing, manufacturing, distributing and marketing off a new line of engine oils in the country. As per this association, American headquartered Goodyear would look after Research and Development (R&D) while the Gurgaon-based Assurance International would take care of manufacturing, marketing and distribution in India plus after-sales support to buyers. Goodyear would also leverage its existing dealer network in the country to market the new lubricant offering in the country.
The lubricants would cater to all kinds of vehicles like commercial, passenger and two-wheelers in the domestic market. The product line is an exhaustive one designed for the Indian market. It includes greases, brake fluid, transmission oil, tractor oil, diesel exhaust fluid, gear oil and hydraulic oils. The company in the initial phase wants to tap the aftermarket segment and later move-on to partnerships with different automotive original equipment manufacturers (OEMs) in its second phase.
The reason to move into the Indian market with its lubricant offerings is based on the potential it offers. Elaborating on the decision to launch specialized lubricants in India, Goodyear India Country Head Sales and Marketing - Sanjay Sharma said, "If you look at top three countries globally in terms of lubricant consumption, it is the US, China and India. We are looking at around 4 to 5 percent market share by 2025 in the lubricant after-market segment amidst the multinational companies currently present in the country,".
Talking about the tie-up with Assurance International, Sanjay added it is the authorised licensee for India and South East Asia for Goodyear lubricants and would be solely responsible for manufacturing, marketing and distribution of lubricants in India and south-east Asia". He further explained, that the lubricants will be produced locally at two manufacturing facilities - Hisar (Haryana) and Mumbai (Maharashtra).
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