Hankook Tyre Registers Consolidated Global Sales Of € 1.325 Billion In Q2 2018-19

Hankook Tyres recently reported its 2nd quarter results of 2018-19, there was a sales growth in major markets such as China and Europe along with a stable growth of Original Equipment, which resulted in a sales increase of 2.3% as compared to the same period last year. Moreover, sales of over 17-inch tyres accounted for 52.1% of passengers car tyre sales (a 3.5% increase compared to the same period last year). This has reinforced Hankook’s reputation as a premium brand.

Hankook Tyre said that the company’s 2018 Q2 consolidated global sales were KRW 1.706 trillion (€ 1.325 Billion) with an operating profit of KRW 183.2 billion (€ 142.4 Million). In the meantime, the operating profit of the company shrank by almost 10% as against during the same period last year. The major reasons for this slump in operating profit were the surge in competition in the South Korean market and the initial operating cost incurred on US’s Tennessee plant.

Hankook is gradually on its way to becoming a global top-tier company by bolstering competitiveness in premium product lines by expanding its ultra-high-performance tyre line up. Hankook’s sales are set to further improve with the stabilization of the US Tennessee plant and surge in sales of the replacement tyre market, during the last quarter of this year.

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Author: Ankit verma

My need for speed began at a very early age and I realised this as soon as I got my first bicycle at the age of 8. When all the other kids would break downhill I would pedal harder just to go faster and enjoy the thrill. Adding to my interest for speed, I grew engrossed in the working mechanics of two wheelers thanks to my father as he is a hydraulic mechanic and would take me along with him on his repair sessions. Eventually I became familiar with the tools and basic technical concepts of two wheelers.Super sport and sport tourers are more of my liking and the sparks to these flames were ignited the first time I experienced the maddening power of a Yamaha YZF R1. I was just 14 years old at the time and got to ride as a pillion with an older acquaintance. This one short ride influenced my every decision in terms of the bikes I want to own. As of today I’m 26 years old and a proud owner of a Yamaha Fz15 version 2.0 and a Kawasaki Ninja 650 2014 model having clocked a decent 30k Kms only while touring, waiting to clock 1000s more as riding makes me feel whole again after enduring the dismal routines of life. Read more