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.

JK Tyre & Industries is aiming for double-digit revenue growth in FY2026, outpacing its forecast for single-digit expansion across the broader tyre industry. Managing Director Anshuman Singhania outlined the company’s ambitions during a post-earnings media call, underscoring confidence in demand recovery and strategic market positioning.

Q1 Performance Overview

For the first quarter of FY2026, JK Tyre reported revenue of INR 38.91 billion, with EBITDA at INR 4.24 billion, translating to a margin of 10 percent. Net profit stood at ₹1.55 billion — up 51 percent compared with the previous quarter, but down 21 percent YoY.

Singhania attributed the annual decline to muted original equipment (OE) demand, particularly in truck and bus radial (TBR) volumes, alongside higher raw material costs compared to the same period last year. He also highlighted an adverse impact from the company’s Tornel business in Mexico, which faced uncertainty due to tariffs on exports from Mexico to the United States, dampening volumes.

Resilience in Domestic and Export Markets

Dr Raghupati Singhania, Chairman and Managing Director, JK Tyre & Industries, said, “The growth momentum in domestic markets remained robust in Q1, with JK Tyre clocking a sales growth of 11 percent YoY, as contributed by a steady demand for our products in both replacement as well as OE segments, underscoring JK Tyre’s continued focus on core growth drivers and strengthening market presence.”

“Despite a challenging and uncertain macro-economic environment, exports of passenger car tyres witnessed a strong traction both on QoQ and YoY basis, signifying pull for our products and enhanced brand perception in the global markets,” said Dr Singhania.

Operational efficiencies and strategic pricing supported performance, even as natural rubber prices remained elevated. Subsidiaries Cavendish (India) and Tornel (Mexico) continued to contribute significantly to the group’s consolidated financials.

Operational efficiencies and strategic pricing supported performance, even as natural rubber prices remained elevated. Subsidiaries Cavendish (India) and Tornel (Mexico) continued to contribute significantly to the group’s consolidated financials.

Regarding trade tensions between India and the US, Anshuman Singhania noted that exports from India to the US account for only around 3 percent of JK Tyre’s revenue and could be redirected to markets such as Mexico, Latin America, Brazil and the UAE if required. With zero tariffs in Mexico, JK Tyre can utilise its production base there to meet demand for both passenger and truck radials. The EU and UK, where JK Tyre holds a strong position in the TBR segment, also remain tariff-free.

Capacity expansion

The company’s INR 14 billion capital expenditure plan is progressing on schedule, covering passenger car radial (PCR), TBR and all-steel truck radial projects. For the year, investment is expected to total INR 9-10 billion, aimed at boosting production capacity by 30-40 percent.

A key driver for future profitability is the shift towards premium products. The share of 16-inch and above passenger car tyres in JK Tyre’s portfolio has grown from 18 percent in FY2020 to 25 percent in FY2025, with a target of 40-45 percent over the next two to three years. This change is being fuelled by rising SUV sales, larger rim sizes in entry-level cars and strong export demand.

The company has also developed a complete range of tyres for electric vehicles, spanning commercial truck radials, bus tyres, passenger radials and two/three-wheeler tyres  Major OEMs such as Ashok Leyland’s Switch Mobility and Tata Motors are sourcing these products, including for last-mile connectivity vehicles and newly launched EV buses.

Market Outlook

The replacement market has been a bright spot, with passenger radial volumes up 32 percent year-on-year and truck radial volumes growing in the high single digits. JK Tyre expects demand to strengthen in the second half of FY2026, supported by infrastructure development, a favourable monsoon, potential interest rate cuts, and improved consumer liquidity.

Anshuman Singhania stressed that the worst of raw material price pressures appear to be over, paving the way for margin improvement as the product mix shifts and capacity utilisation rises. With the small car segment’s gradual decline offset by growth in premium categories, JK Tyre remains confident in sustaining momentum.

“Overall, India is poised for growth,” Singhania concluded. “We see positives across the board — from infrastructure push to evolving consumer preferences — and we are well-positioned to capitalise on these trends.”

Yokohama Rubber has begun supplying its ADVAN V61 tyres as original equipment for BYD’s new SEALION 6 DM-i SUV, marking the Japanese manufacturer’s first OE partnership with the Chinese carmaker.

The SEALION 6 DM-i, a plug-in hybrid SUV launched by BYD Company Ltd. this July, is being factory-fitted with 235/50R19 103V size ADVAN V61 tyres. The announcement comes as Yokohama seeks to grow its footprint in China’s fast-evolving electric and hybrid vehicle market.

The ADVAN V61 is part of Yokohama’s global flagship ADVAN range and is positioned as a premium SUV tyre. The company said the tyre “offers ADVAN’s hallmark premium-grade driving performance, along with a high-level balance of fuel and energy efficiency, handling stability, and quietness, achieving both comfortable city driving and long-distance touring for heavyweight SUVs.”

The SEALION 6 DM-i combines a 1.5-litre naturally aspirated petrol engine producing up to 74kW with an electric motor generating 160kW. Buyers can choose between 18.3 kWh and 26.6 kWh blade battery options, offering electric driving ranges of 93km and 130km, respectively. All models come equipped with advanced driver assistance systems as standard, and the exterior design draws inspiration from the concept of “ocean aesthetics.”

Sumitomo Rubber Industries Ltd said its subsidiary Dunlop Tyre Japan Ltd has completed a Japan Fair Trade Commission investigation into automotive all-season tyre sales after the regulator approved a commitment plan submitted by the unit.

The probe, which examined the subsidiary’s sales practices, concluded without the commission identifying any violation of Japan’s Antimonopoly Act, Sumitomo Rubber said in a statement.

Under Japan’s commitment procedures, companies can submit plans to address potential competition concerns without admitting wrongdoing, allowing them to resolve investigations while avoiding formal sanctions.

"We deeply apologise for the great trouble and anxiety that we have caused to all concerned, including our clients and business partners,” the tyre maker said.

Belgian steel wire maker Bekaert reported resilient first-half 2025 earnings as strong cash generation and cost control offset softer sales, but warned that tariffs and currency pressures are weighing on demand.

The company posted consolidated sales of €1.9 billion, down 5.2 percent year-on-year, with volumes declining 2.6 percent and price/mix effects stripping out a further 2.2 percent. Underlying EBIT slipped 16.2 percent to €171 million, delivering a margin of 8.8 percent compared with 9.9 percent a year earlier.

Free cash flow surged to €123 million from €43 million in the prior-year period, driven by a €135 million reduction in working capital and €21 million in cost savings as the company continued to streamline operations and rein in capex. Net debt fell to €327 million from €399 million despite a continuing €200 million share buyback programme, €74 million of which has been completed.

“We have continued to focus on what we can control best – cash flow and costs - and have significantly reduced overheads and working capital in H1 2025,” chief executive Yves Kerstens said. “Equally, I am very pleased with the hard work of our teams fighting for volumes in the current challenging markets.”

He added: “We are also taking further steps to make our business units more autonomous and agile. Therefore, I am very confident that we will come out of the current business environment stronger and more cost competitive than ever before.”

Bekaert said volumes were particularly strong in its Steel Wire Solutions and Rubber Reinforcement divisions in the United States and China, while European and Latin American demand lagged. Its Brazilian joint ventures delivered €24 million in net profit share, up from €20 million a year ago.

However, the group cautioned that growing trade tensions – including a rise in US steel tariffs from 25 percent to 50 percent – and the weakening of the US dollar and Chinese yuan against the euro were eroding pricing power and softening orders.

“Following a period of resilience in Q2, the tariff uncertainty and weakening economic outlook has started to have an impact on demand,” Bekaert said.

The company now expects slightly lower full-year 2025 sales on a like-for-like basis, with an underlying EBIT margin of between 8.0 percent and 8.5 percent, down from 8.8 percent in the first half.