Hankook’s European original equipment truck and trailer tyre business ‘interrupted’
A special report on a delicate situation shows why the major supplier to the European commercial vehicle tyre market made new supply agreements with contracted OEM partners, and how the period of flux could work in its favour as tender processes commence
Hankook Tire Europe’s intensive expansion of its original equipment truck tyres business over the last half-decade hit significant headwinds at the end of 2021. As a result, the manufacturer made the decision to largely discontinue corresponding deliveries at the start of 2022. Speaking to Tyres & Accessories’ sister magazine in Germany, Neue Reifenzeitung (NRZ), representatives from Hankook’s European headquarters in Neu-Isenburg were clear that the company had not withdrawn from original equipment, but that there has been an interruption, which will be followed by a “restart” in the next two years. This raises the question of how this strategic decision will be received in a shrinking market, while many in the aftermarket are wondering why such a drastic move was necessary in the first place.