Kumho reaches $2.4 billion mark in tire sales
At the 2008 Kumho Dealer Meeting in Rio Grande, Puerto Rico, Kumho Tire U.S.A. Inc. announced record tire sales for both itself and its parent company.
Kumho's $565.5 million in sales in the United States were a 21.6% increase compared to 2006. At last year's dealer meeting, Kumho predicted it would finish 2007 with sales of $610 million; lack of supply was given as the reason for falling short of its goal.
However, Kumho will have worldwide capacity of 60 million tires a year by the end of 2008. Its Binhduong, Vietnam, radial light truck tire plant opened in November 2007, and a new truck tire plant in Nanjing, China, will begin production later this year.
In 2012, Kumho estimates it will have annual tire production capacity of more than 93 million tires.
The company says its parent, Kumho Tire Co. Inc., posted sales of $2.4 billion, a 10% increase over 2006 sales.
By 2015, Kumho hopes to be the fifth largest tire manufacturer in the world, with $6 billion in sales.