The rise of e-commerce has changed the way how consumers access goods including tyres in India. With 196.3 million units sold in 2023 alone, the tyre industry is booming. Tyreplex, a B2B e-commerce platform, is harnessing technology to simplify tyre distribution, empower dealers and overcome logistical barriers, aiming to reshape the sector.

The interconnected world has practically reshaped our approach to acquiring goods online. From flowers and medicine to industrial equipment, modern consumers can easily acquire goods from the farthest corners of the world by just sitting within the four walls of a home or office.

The Indian tyre landscape is also not unknown to such ease of accessibility. According to an estimate by IMARC Group, 196.3 million units of tyres were sold in 2023 and the numbers are rising. And within such a booming market, Tyreplex is leveraging the power of modern-day technology to not only create virtual marketplace but also break the barriers of logistics.

Speaking exclusively to Tyre Trends¸ Chief Executive Officer Puneet Bhaskar said, “The Indian tyre industry is evolving. We are very good at manufacturing and creating products suitable for Indian conditions. But when it comes to distribution, especially at the dealer level, a lot still needs to be done. Around 90 percent of tyre retailers are independent and fall within the unorganised sector. These retailers need to be upgraded and digitised to prepare for the next generation of consumers, who are more digital-savvy and well-informed about products. This is where significant work is needed and it’s something we plan to address.”

He added, “TyrePlex, in essence, is a B2B e-commerce company exclusively for tyre dealers. We focus on helping them enhance margins and sales by leveraging technology. Our platform enables dealers to procure more efficiently, manage stores better and handle customer relationships effectively.”

The New Delhi-based company was established in March 2020 by Bhaskar, Chief Product Officer Nikhil Kalra, Chief Technology Officer Jiveshwar Sharma and Chief Operating Officer Rupendra Pratap Singh. During its first six to twelve months, the focus was on laying the foundation by developing its product and technology. As markets began re-opening in 2021, the company rolled out its offering in Delhi NCR. Soon, the platform had around 6,000–7,000 dealers, with 1,200–1,500 actively utilising its services to some extent.

Since early 2022, the company reported being on a growth trajectory. Operating as a hyperlocal business, it expanded in Bengaluru, where it experienced rapid growth, scaling its topline and revenues by nearly 30 times between 2022 and the last financial year.

The executive also indicated that the company had already surpassed the previous year’s figures in the current financial year. Despite operating in only two cities, it projected revenue growth of 50–60 percent for the current fiscal.

TyrePlex does not have a dedicated app for consumers, relying instead on its website and mobile site due to the infinite purchase model. For dealers, however, there is an app available and both registration and usage are entirely free. All tools provided to dealers are free of charge, a policy that extends to consumers as well. Currently, the platform has over 20,000 registered dealers.

ORDERING ONLINE

TyrePlex was initially launched with a B2C approach, drawing on the team’s extensive experience in consumer-facing businesses. However, it became evident that the low purchase frequency and limited repeat business in the tyre market presented challenges for a purely B2C model. To better understand the dynamics of the market, the team even operated a tyre store for a few months. This hands-on experience provided valuable insights into the pain points faced by both dealers and customers. It ultimately highlighted the greater potential of a B2B model as it became clear that dealers encountered significant challenges that the company could effectively address.

“While we still maintain a B2C presence to help our dealers attract customers, our primary focus is on the B2B segment. We empower them by offering them a comprehensive platform to procure tyres easily. Dealers can access all major brands and categories, covering cars, bikes, scooters, trucks, buses and tractors on a single platform. Our unique value proposition lies in our efficiency. We fulfil 90 percent of orders on the same day with 50-60 percent delivered within 2-3 hours. Moreover, our model is entirely asset-light. We don’t own inventory or warehouses. Instead, we manage procurement, delivery and payment collection, ensuring a seamless and efficient experience for dealers,” said Bhaskar.

The company aggregates supply and demand. When an order is placed, the demand is sent to a network of pre-tagged suppliers integrated into the system. This process is entirely driven by technology and happens within seconds. Once the demand is shared with the suppliers, the technology platform evaluates key factors such as price, margins, delivery costs and logistics costs to determine the most suitable supplier to fulfil the order. The system uses algorithms to decide the optimal procurement source ensuring the decision aligns with margin goals and delivery timelines.

In addition to the technology driving the procurement process, TyrePlex has built robust back-end systems incorporating machine learning and artificial intelligence to enhance operational efficiency. These technologies continuously improve as more data is gathered, allowing the company to refine its decision-making processes over time.

The company sells around 15,000–16,000 tyres a month and has a modest workforce of 50 people.

DRIVING WITH DATA

Tyreplex’s data-driven approach is helping to reshape the tyre industry in India by providing deep insights into market trends and customer behaviour, which directly impacts distribution strategy. “We collect and triangulate data from various sources including our website, where we monitor customer behaviour such as the areas from which customers are coming, what kind of tyres they’re buying and the preferred brands. This real-time, organic consumer data gives us valuable insights into regional demand, brand preferences and tyre sizes in different parts of India,” averred the executive.

“Additionally, we gather B2B data by tracking tyre sales including pricing and sales patterns. A third layer of data comes from the invoices generated by dealers through our platform, providing us with insights into their actual sales transactions. These insights with macro data help predict demand and optimise our distribution strategies. For instance, we shared these insights with Michelin during their visit to India, and they were so impressed that they partnered with us for B2B distribution in Delhi NCR,” he added.

TyrePlex is exploring opportunities to expand its product offering into other categories. A key area of focus is tyre recycling, particularly in light of the government’s mandate for 100 percent extended producer responsibility in the sector. The reverse supply chain for car and bike tyres remains fragmented wherein the company aims to leverage its existing supply chain to streamline and improve this process.

The company is also exploring opportunities in other categories like accessories, batteries and garage-related products. “Around 15-20 percent of our dealers already sell accessories or batteries and many of them also operate their own garages. While expanding into these categories is projected to be a few years down the line, our immediate priorities are geographical expansion, entering the tyre recycling market and eventually diversifying into additional product categories,” revealed Bhaskar.

UPCOMING LAUNCHES

The company is continually enhancing its technology stack with a particular emphasis on artificial intelligence (AI) and machine learning (ML). On the dealer side, the company is introducing computer vision to simplify inventory management. Soon, dealers will be able to scan or photograph their invoices, removing the need for manual entry into the system. Additionally, TyrePlex is developing customer relationship management (CRM) tools for dealers to help them provide targeted services such as alignment or balancing, based on customer history.

On the consumer side, TyrePlex is working on products that leverage AI and ML to enhance the customer experience. One such product in development will allow consumers to photograph a tyre to determine how much tread life remains, helping them make informed decisions about when to replace their tyres. These consumer-facing features are expected to be launched within the current financial year.

Moreover, to address the significant knowledge gap within consumers, TyrePlex is focusing on educating and empowering consumers by expanding its content library on the website and introduce more educational tools.

EXPANDING FOOTPRINT

Alluding to the plans to expand footprint, the executive noted, “We are planning to expand into 25 of India’s top cities and the goal is to be present in at least four to five additional cities by the end of FY26. The cities we are targeting for expansion include Hyderabad, Chennai, Ahmedabad and Mumbai. After that, we plan to extend our reach to other cities based on our market analysis.”

“Our strategy is to focus on cities with high vehicle density and a strong concentration of digital-native dealers as these cities offer a conducive environment for our business. Once we are present in these top cities, we will use them as central hubs to fulfil orders for surrounding cities within a 50-100 km radius. This will allow us to streamline our supply chain and make deliveries more efficient,” he added.

He explained that to overcome the unique challenges of each market, the company has developed a playbook based on experience. Acknowledging that the company will face challenges such as regional preferences, local competition and logistical nuances, he noted that the solutions will be based on data accumulated through website and other sources.

On the industry side, he noted the need for improvement of distribution channels and creation of a more accessible supply chain. Building a strong ecosystem that connects dealers, brands and other stakeholders is crucial for fostering growth and ensuring greater efficiency in the tyre market. Looking ahead, the company plans to continue strengthening its ecosystem with dealers, brands and stakeholders. The goal is to position the company for an IPO on the main board within the next five years, setting the stage for long-term growth and continued market leadership.

Tire Rack is celebrating the induction of its co-founder and longtime CEO, Mike Joines, into the Tire Industry Hall of Fame. The company credits Joines' automotive passion as the foundational spark for its mission to transform the tyre industry. Under his leadership, Tire Rack pioneered one of the first e-commerce platforms for tyre retailing, fundamentally changing how consumers research and purchase tyres.

The company’s philosophy, established by Joines, centred on empowering customers through comprehensive information rather than just completing a sale. This customer-first approach was built upon providing detailed product reviews, performance testing data, side-by-side comparisons and expert guidance.

Tire Rack also acknowledges that Joines understood the critical role of its team, noting that the ingenuity and integrity of its employees have been the true driving force behind decades of innovation and sustained customer trust. The company honours Joines as an enthusiast, innovator and leader whose devotion remains a source of inspiration.

Goodyear Tire & Rubber reported a net loss of USD 2.2 billion for the third quarter of 2025, weighed down by significant non-cash charges, even as its “Goodyear Forward” transformation programme continued to deliver strong operational benefits and major divestitures were completed.

The tyre maker said segment operating income rose to USD 287 million in the quarter, reflecting USD 185 million in cost-saving benefits from Goodyear Forward, which helped offset inflationary pressures, lower volumes and the absence of prior-year insurance recoveries.

“We delivered a meaningful increase in segment operating income relative to the second quarter in an industry environment that continued to be marked by global trade disruption,” said Mark Stewart, Chief Executive Officer and President. “This growth underscores our strong product portfolio and the consistency of our execution under the Goodyear Forward plan, both of which we expect to support further acceleration in our earnings during the fourth quarter.”

Goodyear’s quarterly net sales were USD 4.6 billion, with tyre unit volumes at 40 million. The company recorded a USD 1.4 billion non-cash deferred tax asset valuation allowance and a USD 674 million goodwill impairment charge during the quarter. Adjusted net income was USD 82 million, compared with USD 102 million a year earlier.

The company stated that all planned asset sales under its Goodyear Forward plan had now been completed, generating total gross proceeds of approximately USD 2.2 billion, which will be used to reduce debt and reinvest in growth.

On 31 October, Goodyear finalised the sale of the majority of its Goodyear Chemical business to an affiliate of Gemspring Capital Management, LLC, for USD 650 million, subject to adjustments. At closing, Goodyear received approximately USD 580 million in cash, which reflected working capital adjustments, including those for intercompany receivables.

“With the sale of our Chemical business, we have completed all of the planned asset sales included in our Goodyear Forward transformation program,” said Stewart. “Additionally, we surpassed initial expectations, with total gross proceeds from the divestitures of approximately USD 2.2 billion. As a result, we have a more focused, streamlined portfolio that will allow us to grow our core products and services and achieve our vision of being #1 in Tires and Service.”

The sale included Goodyear Chemical facilities in Houston and Beaumont, Texas, as well as a research office in Akron, Ohio. The company retains its chemical plants in Niagara Falls, New York, and Bayport, Texas, as well as the rights to the products produced there.

By region, the Americas segment reported third-quarter sales of USD 2.7 billion, a 4.2 percent year-over-year decline, as replacement tyre volumes decreased due to high inventories of imported products in the US market. Segment operating income fell to USD 206 million from USD 251 million.

In Europe, the Middle East and Africa (EMEA), sales rose 4.4 percent to USD 1.4 billion, supported by favourable currency movements and stronger price/mix. Operating income increased to USD 30 million from USD 23 million a year earlier.

Asia Pacific sales fell 18.9 percent to USD 501 million, reflecting the sale of the Off-the-Road (OTR) tyre business and softer demand in Japan, Australia and China. Segment operating income dropped to USD 51 million from USD 72 million.

Goodyear said it expects to achieve about USD 1.5 billion in annualised run-rate benefits from the Goodyear Forward programme by the end of 2025.

Tomoshige “Tomo” Mizutani, advisor and former Chairman and Chief Executive of Nitto Tire USA Inc., has been inducted into the Tire Industry Hall of Fame, one of the sector’s most prestigious honours.

The induction, hosted by the Tire Industry Association (TIA), will take place in Las Vegas alongside the 2025 SEMA Show, running from November 4 to 7.

With more than four decades in the tyre industry, Mizutani is widely credited with transforming Nitto Tire USA from a struggling operation in the early 1990s into a billion-dollar brand recognised for its innovation, performance, and strong connection with car enthusiasts.

“Our 2025 inductees embody the spirit of innovation and service that defines the tyre industry,” said Dick Gust, CEO of the Tire Industry Association. “Their contributions have improved safety, expanded opportunity, and shaped the way we do business worldwide.”

Mizutani’s approach combined deep market insight with bold risk-taking. By engaging with emerging communities of young car enthusiasts and later expanding into the off-road segment, he helped reposition Nitto as a brand built around passion and creativity.

Known for embracing innovation, Mizutani was among the first to champion enthusiast-driven product development and leverage digital and social media marketing to build brand loyalty. Under his leadership, Nitto cultivated a social media community exceeding 13 million followers, making it one of the most engaged automotive brands online.

“When new game-changing innovations would arise,” Mizutani said, “we viewed them as huge opportunities instead of risks.”

A frequent speaker at leading universities and industry events, Mizutani has shared his philosophy of creativity, resilience and perseverance with aspiring business leaders, often reminding audiences to “never ever give up.”

“This honour is beyond my dreams,” Mizutani said. “I’ve been privileged to meet and learn from industry legends who inspired me since my first day in America. I am deeply grateful for the incredible people who have guided, challenged, and supported me throughout my journey.”

Finnish tyremaker’s third-quarter operating profit surges 427 percent to 21.8 million euros. Romanian factory ramp-up progressing as planned, now operating 24/7. Heavy investment phase nearing its end as the company targets a cash flow turnaround.

Finnish tiremaker Nokian Tyres reported a more than fivefold increase in third-quarter operating profit, as aggressive pricing increases in passenger car tyres and improved manufacturing efficiency offset challenging market conditions and years of operational upheaval.

The company, known for its winter tyres, said operating profit jumped 427 per cent to 21.8 million euros ($23.7 million) in the July-September period from 4.1 million euros a year earlier, when results were dragged down by 13.3 million euros in inventory write-downs related to contract-manufactured products.

Net sales grew 10.8 percent to 344.1 million euros at constant exchange rates, with the company achieving growth across all regions despite what it characterised as stable replacement tyre markets in Europe and declining conditions in North America.

“I have to say that I’m very pleased to tell you that we are really moving in the right direction,” President and Chief Executive Paolo Pompei told analysts on a conference call. “Our operating profit increased significantly. Obviously, this is very encouraging for the future journey that we have ahead.”

Pricing Strategy Delivers Results

The improvement was driven primarily by price increases implemented from late in the first quarter onward to offset rising raw material costs and to reposition products in Central Europe and North America, Pompei said.

In the passenger car tyre segment, which accounts for the bulk of Nokian’s business, net sales rose 13.2 percent to 234 million euros, whilst segment operating profit climbed to 38.9 million euros from 34.4 million euros. The segment’s operating margin rose to 16.6 percent, up from 16.4 percent a year earlier.

Interim Chief Financial Officer Jari Huuhtanen said price and mix effects contributed a positive 35 million euros to operating profit in the passenger car tyre segment in the quarter. However, this was partially offset by 25 million euros in supply chain costs, related mainly to non-recurring items from the previous year.

“Our average sales price with comparable currencies improved, and the sales of higher than 18-inch tyres increased significantly,” Huuhtanen said. “Segment operating profit improved due to price increases and a favourable product mix.”

Pompei acknowledged that volume declined 3.3 percent in the quarter but said this was “well justified by the comparability with the previous year, due to the action we made in order to release the slow-moving stock that we have accumulated due to the crisis in the Red Sea channel.”

Asked about the sustainability of price increases, given that larger competitors have recently lowered their price-mix assumptions, Pompei said: “We cannot keep increasing pricing. It was extremely important for us, again, to compensate for the increase in rising raw material costs and, at the same time, to gradually reposition in Central Europe and in North America.”

He added that the company was “not expecting the price increase to affect volume at this stage” beyond the comparison effects from last year’s inventory clearance.

Romanian Factory Hits Milestone

The company’s new factory in Oradea, Romania - described as the world’s first full-scale zero-CO2-emissions tyre factory - is progressing according to plan and is now operating four shifts to enable round-the-clock production.

Nokian said it would deliver approximately one million tyres from the Romanian plant this year, up from zero in 2024. The factory began customer deliveries in the second quarter.

“One million is the production, but the capacity already by the end of the year will be up to three million pieces and up to the end of next year, up to six million pieces,” Pompei explained. “We need to distinguish between production and capacity.”

He said the remaining capacity expansion would focus on mixing and semi-finished product lines rather than curing and building machinery, meaning capital expenditure requirements would be “really limited” for the next three years.

The Romanian facility has launched two new product lines for Central and Southern European markets, most recently the Powerproof 2, a premium ultra-high-performance summer tyre unveiled at an event in Spain attended by 160 guests from across the region.

Pompei said that in future, “more than 80 percent of what we sell in the European market will be supported by our Romanian factories for Central Europe as well as South Europe.”

North America Shines, Heavy Tyres Struggle

North America emerged as a standout performer, with sales surging 27 percent despite a declining market, driven by favourable tariff developments.

“We are finally doing extremely well in North America, and we are very pleased with the journey that we have done so far,” Pompei said.

Canada removed 25 percent counter-tariffs on U.S.-produced tyres on 1 August, whilst the United States reduced tariffs on EU tyre imports from 25 percent to 15 percent on 1 September. Nokian produces approximately 85 per cent of its U.S. volume at its Dayton, Tennessee, facility.

“Obviously, today we are in the ideal situation to deliver tyres from the US to Canada without duties,” Pompei said.

The company also disclosed a new partnership with American Tire Distributors (ATD), the largest national distributor in the United States. However, Pompei noted exposure was “relatively low” as the relationship was beginning.

However, the heavy tyres division struggled, with net sales falling 4.4 per cent to 55.4 million euros at constant exchange rates, as weakness in truck and agricultural tyre markets persisted. Segment operating profit dropped to 5 million euros from 7.5 million euros, impacted by lower volumes and inventory revaluation effects.

Asked when the agricultural market might recover, Pompei said: “I believe the agri business in particular is subject to cycles, and cycles can be long or short, but in general, obviously, we are now landing at the end of the second, I would say almost the second year of a downturn.”

He added: “I’m expecting the agri business at the level in particular to recover pretty soon in the next six to 12 months.”

Winter Season Outlook, Efficiency Drive

Looking ahead to the crucial winter tyre selling season, Pompei said the weather in September had been “a little bit too warm” but conditions were improving.

“Now it is getting colder, both in the Nordics as well as in North America,” he said. “We are expecting the winter tyre season to basically start, as I speak in this moment in November.”

The company’s flagship winter products continued to receive strong reviews, with the Hakkapeliitta 10 studded tyre and Hakkapeliitta R5 non-studded tyre taking top positions in multiple European tyre tests.

Nokian also announced it had begun personnel negotiations in Finland regarding efficiency improvements, which have resulted in eight permanent white-collar job cuts.

“This is part of our journey when we want to improve efficiency and productivity,” Pompei said. “This is necessary to support the company in this journey.”

The company’s Vianor retail chain reported improved performance, with net sales rising 7 per cent at constant exchange rates to 74.9 million euros, whilst the segment’s operating loss narrowed to 6.4 million euros from 6.6 million euros.

Nokian maintained its 2025 guidance unchanged, expecting net sales to grow and segment operating profit as a percentage of net sales to improve compared with the previous year.

The company said tyre demand in its markets is expected to remain at 2024 levels. However, it cautioned that “development of the global economy as well as geopolitical, trade and tariff uncertainties may cause volatility to the company’s business environment.”

For the first nine months, net sales grew 9.4 percent to 957.3 million euros, whilst segment operating profit rose to 40.2 million euros from 35.4 million euros. Segment EBITDA margin improved to 14.1 percent from 13.5 percent.

Asked about margin volatility in the passenger car segment, which has swung sharply on a quarterly basis over the past two years, Pompei said stability should improve.

“Of course, you will see more stability in the development of the margins moving forward, because now, finally, we can leverage our increased capacity, we can leverage an efficient manufacturing footprint,” he said.