Hankook has recorded first-quarter gross sales up 12.6% to EUR1.2bn (US$1.4bn), whereas working revenue rose 75.5% to EUR138m.
The corporate notes it’s seeing gross sales stabilise in a number of main markets, together with Europe, North America, and China, notably within the high-inch tyre sector that accounts for tyres of 18 inches or greater.
World gross sales of high-inch tyres accounted for 38% of total tyre gross sales, which is now up 4 share factors in comparison with the identical interval final yr.
Gross sales of substitute tyres additionally elevated because the market demand within the US and Europe continued to enhance. China likewise confirmed an increase within the demand of substitute tyres together with gross sales of authentic tools tyres, indicating an upturn within the manufacturing of automotive autos. Excessive-inch tyres in China elevated 13 share factors to 40% YoY.
“Regardless of the slowdown final yr, Hankook stay [s] extremely devoted to its dedication to strengthen its repute as a premium model,” stated a Hankook assertion. “The corporate can be persevering with to safe partnerships with world carmakers to develop the variety of OE contracts, as demonstrated by the latest announcement to provide its ultra-high efficiency tyre, the Ventus S1 evo three for the Porsche 718 Boxster and the Porsche Cayman.
“Hankook is moreover actively increasing partnerships for EV fitment, as demonstrated by the settlement to provide tyres factory-installed on Porsche’s first high-performance electrical sports activities automobile, Taycan, in addition to the NIO ES6 and EC6, flagship fashions made by China’s fast-growing electrical car model.”
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