More than half of Hankook global car tyre sales over 17”

Hankook has increased its share of 18"-plus car tyre sales, including OE fitments such as the VW Tiguan

18-inch-plus tyres accounted for 53.9 per cent of total Hankook Tire car tyre sales in the first quarter of 2019, a 3.3 per cent increase versus the same period last year, showing Hankook’s strengthening position in premium segments. The manufacturer reported global sales of 1.64 trillion Korean won (1.28 billion euros), up around 2 per cent on Q1 2018, and operating profit of 140.1 billion won (109.6 million euros), which was 44.1 billion won (30.7 million euros less than in Q1 2018.

Hankook said that the slowdown of the global auto industry had a negative impact on sales. The increased sales of high inch tyres and the supply of original equipment tyres for pickup trucks and SUVs led to sales growth of high-inch passenger car tyres in North America.

Hankook is continuing to focus on strengthening its 18”-plus car tyre sales in major markets, original equipment business for premium cars, and increasing the competitiveness of its premium product lines. It adds that it plans to “diversify its OE portfolio to establish a stable growth structure and optimise distribution strategies for each region.”

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