Rise of electric vehicles is leading to heightened consumer engagement: Lakshmi Narayanan

CEAT, RPG Enterprises’ flagship firm, was founded in 1958 and is today one of India’s top tyre manufacturers with a substantial presence in worldwide markets. CEAT manufactures about 41 million high-performance tyres for categories such as 2-3 wheelers, passenger and utility vehicles, commercial vehicles, and off-highway vehicles.

In an exclusive interaction with Adgully, Lakshmi Narayanan B, Chief Marketing Officer, CEAT Ltd, speaks at length about the growth of the tyre industry in India, how CEAT has remained at the top of the competition, their expectations from 2023, and much more.

Speaking about the forces that are driving the tyre industry today, Narayanan said, “According to me, there are two major change events which have happened in the country – one definitely the entire revolution with electric vehicles, and the second is that the Indian audience is mature and the entire shift towards lifestyle has come up very strongly. This is not just limited to the automobile industry, but it is across that you see that particular trend happening. These two change events are significant for the tyre industry, because the more you have the consumers engaged, the better is the chance for the industry to also talk about the products and the differentiation that the products can actually offer.

He further added, “Traditionally over many years, consumers are used to dealing with vehicles in a certain manner, but the revolution of electric vehicles is shifting that. Be it from access to this point of view, or how you actually maintain your vehicle, it is completely different. That is providing an opportunity for everyone in the automobile industry to engage with consumers in a very heightened manner, because they are very keen, they are interested to know how they want to deal with the opportunities and challenges. Being a part of the automobile industry, tyre, as a category, has a brilliant opportunity to engage and also connect better with consumers.”

Watch the entire conversation here: