Hankook reports significant rise in sales, especially with UHP tires

Jan. 1, 2020
Hankook is reporting third quarter global sales figures totaling 1.69 trillion in Korean funds, a year-over-year increase of 23 percent. The company's third quarter operating profit was KRW 129.9 billion.
Hankook is reporting third quarter global sales figures totaling 1.69 trillion in Korean funds, a year-over-year increase of 23 percent. The company's third quarter operating profit was KRW 129.9 billion.

The tire maker says it has posted continuous growth in each quarter of this year “as a result of upgraded brand value and increased recognition for high-quality tires.”

In addition to presenting “cutting-edge technology,” the company’s third quarter achievements “were further driven by ongoing efforts to diversify markets, improve productivity and develop customized tires for global customers.”

Hankook says it has recorded “balanced growth in all markets” compared to last year’s third quarter. It sold 49.6 percent and 30.1 percent more tires than last year in Europe and North America, respectively.

The company netted a 36.2 percent growth rate in the Middle East and was up 26.7 percent in the Asia Pacific regions.

Positive performance was shown in Hankook’s overseas original equipment sales, recording a 65.7 percent increase. OEM fitments include the 2011 Ford Explorer and BMW MINI models.

Sales of the company’s ultra-high performance tires were up 47.7 percent. Its Korean operation more than doubled the sales of UHP tires to domestic automakers, and sold 79.6 percent more UHP tires to overseas nameplates than last year.

For more information, visit www.hankooktire.com.

Sponsored Recommendations

Best Body Shop and the 360-Degree-Concept

Spanesi ‘360-Degree-Concept’ Enables Kansas Body Shop to Complete High-Quality Repairs

Maximizing Throughput & Profit in Your Body Shop with a Side-Load System

Years of technological advancements and the development of efficiency boosting equipment have drastically changed the way body shops operate. In this free guide from GFS, learn...

ADAS Applications: What They Are & What They Do

Learn how ADAS utilizes sensors such as radar, sonar, lidar and cameras to perceive the world around the vehicle, and either provide critical information to the driver or take...

Banking on Bigger Profits with a Heavy-Duty Truck Paint Booth

The addition of a heavy-duty paint booth for oversized trucks & vehicles can open the door to new or expanded service opportunities.