Singapore-based online tyre retailer, Tyrepac, is entering Thailand’s tyre aftermarket sector by joining forces with local spare parts distributor Manoyont Group and Toyota Tsusho Thailand.
Tyrepac was originally established in 2008 as an online tyre retailer in Singapore and has since expanded into Indonesia and Hong Kong. It sells tyres made by leading global brands including Bridgestone, Michelin, Goodyear, Continental, Pirelli, Nexen, Pirelli, Kumho and Yokohama.
In Thailand it will retail mainly passenger vehicle tyres with customers given the option of having them delivered to their homes or directly to partnered fitting centres.
Toyota Tsusho will provide sales and customer support services, while Manoyant is helping to establish Tyrepac’s tyre fitting network.
So far the company has established a network of 50 fitting outlets and this is expected to double by the end of the year.
Takahiro Arai, general manager of Toyota Tsusho Asia Pacific, told local reporters he estimates tyre replacement demand in Thailand at around 15m-20m units per year. He noted that overall online commerce has expanded significantly in Thailand to an estimated US$90bn last year.
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Arai added online sales currently account for just 1% of replacement tyre sales in Thailand, or some 15,000 units per month, leaving plenty of room for growth – particularly among first-time car owners aged around 20-30 years.