Hankook Posts Second Quarter Sales Gains
Hankook & Co., parent company of Hankook Tire North America, posted a 12.9% year-over-year gain in aggregate sales during the second quarter of 2022.
The company's operating profit decreased by 6.3% during that period versus one year ago.
But its 2Q 2022 profit increased by nearly 40% when compared to the first three months of 2022.
Hankook officials report the sales of 18-inch and higher passenger tires remained "a key engine for growth," accounting for 39.1% of its total, global passenger car tire sales, up slightly from 1Q 2022.
Sales in China were the biggest contributor to that percentage.
"Consolidated revenue also grew on the account of the North American market’s strong sales growth in both original and replacement tires."