CEAT Tires, which generates a quarter of its revenues from exports, aims to become India’s largest manufacturer of passenger car radial (PCR) tires by 2026.

As part of its export acceleration program, the RPG Group plans to enter the PCR as well as TBR (truck and bus radial) segments by the end of 2023-24, Arnab Banerjee, the newly appointed managing director and CEO, told The Economic Times. Ahead.

Earlier this month, RPG Group Inc. announced changes in its senior management. On banerjeeeerjeeeer. After being appointed Managing Director and CEO, Anant Goenka was appointed Vice Chairman of CEAT and Zensar Technologies.

Goenka has successfully led CEAT since 2012 4. Under his leadership, the company’s market capitalization has more than tripled 20 times in 10 years, with significant market share in the two-wheeler and passenger car segments. However, his tenure has not been without fault.

“Unfortunately, we had a better understanding of the situation on the ground before we entered Bangladesh,” Goenka told the Economic Times. “We have made a lot of progress in the passenger car segment, but in the CV (commercial vehicle) segment, we are not growing as fast as other companies.”

A few weeks after the announcement, Goenka and Banerjee’s mission became clear, with Goenka focusing on strategy, capital allocation and key personnel decisions. He said, “In addition to my involvement in these two companies, I will lead the group’s strategy function and move into other new businesses.”

Meanwhile, Banerjee is gearing up to lead CEAT into its next phase of growth. “Strengthening our position in the domestic two-wheeler market is our top priority. We also want to be number one in the passenger car tire segment. We also want to accelerate our global presence in Europe, the US and specific regions and categories. In Latin America, exports are our bottom line, “It accounts for a quarter,” he said.

Banerjee expects both targets to be met by 2026, with domestic PCR dominating and exports contributing 25%. To this end, CEAT groundwork has already begun and a network of US distributors will be appointed to transform the market and start exporting from the US. 2023-24 Q4.

He said annual sales of U.S. tires could reach $1 million to $1.5 million in two to three years. agricultural radial tires.