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Wednesday, September 15, 2021

Hankook Tire is now the sixth largest tire manufacturer in the world

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Global leading tire company Hankook Tire announced the company is now ranked sixth in the 2020 global leading tire manufacturers released by the renowned British tire magazine Tyrepress, improving from the seventh place a year ago.

Tyrepress’ ranking of the world’s top tire companies is based on revenue. Hankook Tire recorded global sales of KRW 6.454 trillion in 2020 to become the sixth-largest tire maker in the world. This achievement adds significance as the industry navigated through a difficult year highlighted by the challenges brought by the COVID-19 pandemic.

More significantly, Hankook Tire’s operating profit also rose by 15.5% in 2020 year-on-year, proving the company’s qualitative growth. With a solid foundation supported by top-notch technology and excellence in product quality, Hankook’s sales of high-inch tires (18 inches and higher) increased 3%p year-on-year to account for 35% of the total sales of passenger cars tires, which helped solidify the company’s leading role in the industry.

On this occasion, Mr. Marwan bin Shihon, Vice President of bin Shihon Group, dealers of Hankook tires in the Kingdom, said: “We are pleased to be the one that provides these tires in Saudi Arabia. Whereas, based on the level reached by Hankook Tire, in the global rankings published by Tyrepress, the company gained remarkable recognition for its technical excellence in 2020. Hankook received top ratings in several tire tests from the most rigorous institutions in  Germany and the United Kingdom, and was ranked as the best-selling brand across three categories from all-season to summer and winter tires in the European e-commerce platform, Tyre24, where the result was based on consumer preference survey”.

Hankook continues to strengthen its standing as a premium brand by expanding its partnership with premium car makers, including the OE supply to Porsche’s first high-performance electric sports car, Porsche Taycan, to Audi’s top model in the Q product line, Audi RS Q8 as well as to Audi’s RS lineup that includes Audi RS7 Sportback and Audi RS6 Avant.

 

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