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Apollo Tyres on Tuesday said it has launched a new range of tyres for the fast-growing compact SUV segment.

(Also Read: Apollo Tyres planning to launch Dutch brand Vredestein in India early next year)

The company said it has launched Apterra Cross tyres in the country after two years of extensive testing and tuning.

This is the first dedicated range of tyres that caters to the compact SUV segment, the hottest selling segment of the decade, in the Indian automotive industry, Apollo Tyres said in a statement.

As per industry estimate, the CSUV (Compact SUV) tyre market in the country is pegged around four lakh tyres per month, and is soon expected to double.

"The rise of the compact SUV segment, priced affordably, has reinvigorated the dream of owning an SUV in the Indian market, and we being the segment creators in the tyre space, are looking at leveraging on this opportunity with a dedicated range of tyres for this growing segment," Apollo Tyres President, Asia Pacific, Middle East & Africa (APMEA) Satish Sharma said.

The company has the first-mover advantage with Apollo Apterra Cross, and Apollo targeting a leadership position in this segment, he added.

The Apterra Cross tyres is an outcome of in-depth research to understand the exact usage patterns of compact SUV owners/drivers, basis which the team at Apollo Tyres Global R&D Centre Asia, in Chennai, designed and developed the new tyres, the company said.

The tyre range is being produced at the company’s unit in Oragadam, Tamil Nadu.

Apollo Tyres also plans to introduce the range in ASEAN and SAARC markets later.