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Richard Piries Company is the market leader and the pioneer in the tyre Retread industry of Sri Lanka and commands a market share of nearly 60%. In addition to that, it has become the largest Retreader in the whole of South Asia which is a remarkable achievement for a Sri Lankan company.
Initially, privatisation is met with extreme employee industrial action for several months. Once the employee unrest dwindled, the company entered into an agreement with CEAT to set up a joint venture in 1993. In 1994, Kelani Tyres was listed on the Colombo Stock Exchange. In 2022, CEAT was amongst the 100 most valuable brands in Sri Lanka.
Michelin developed and patented a key innovation in tyre history, the 1946 radial tyre, and successfully exploited this technological innovation to become one of the world's leading tyre manufacturers. [8] The radial was initially marketed as the "X" tyre. [9] It was developed with the front-wheel-drive Citroën Traction Avant and Citroën 2CV ...
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A Michelin study released in 2008 found that 3% of drivers worldwide want run-flat tires. U.S. market share is well below 1%. American Honda Motor Co. announced that the 2009 Honda Odyssey Touring and Acura RL were its last models available with run-flat tires and with Honda no longer using run-flats.
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