MTD Facts Issue: Korean tiremakers make major moves
Kumho Tire U.S.A. Inc. and Hankook Tire America Corp. increased their respective domestic market shares in both the replacement passenger and light truck tire segments in 2005, according to Modern Tire Dealer's 2006 Facts Issue.
Kumho jumped from 2.5% of the replacement passenger tire market in the United States to 3%, while Hankook improved from 2% to 2.5%. In the replacement light truck tire market, each company increased its market share from 1% to 1.5%.
Combined, the two companies increased their domestic consumer tire shipments by roughly 2.4 million units.
The Goodyear and Bridgestone brands also increased their domestic replacement passenger tire market shares, while the Bridgestone, Toyo, Yokohama and Hercules brands increased their replacement light truck tire market shares.The most in-depth and comprehensive statistics covering every facet of the tire industry can be found in MTD's 40th annual Facts Issue. Check it out!