Hankook Posts 2Q Sales, Operating Profit Gains
During the second quarter of 2021, Hankook & Co. achieved a year-over-year sales increase of 32.4% and a year-over-year operating profit hike of 167.1%.
The company also reports that its sales of both original equipment and replacement tires increased versus the same period last year.
Sales of 18-inch and higher tires accounted for nearly 40% of Hankook's global sales, a year-over-year increase of 5.4%.
The quarter "showed recovery in market demand in Europe and the U.S.," according to Hankook officials. In the U.S., "sales of high-inch OE and replacement tires showed a strong year-over-year growth even at a faster pace than that of market demand recovery."
Hankook officials say the company is strengthening its OE presence in the electric vehicle and high-performance car segments.