Hankook Says Drivers Are Ready to Buy New Tires

The latest Hankook Tire Gauge Index indicates that 54% of drivers are planning to buy tires before the end of the year.

"According to the latest Hankook Tire Gauge Index this intent to replace tires comes alongside consumers’ interest in maximizing value amid economic pressure," say Hankook officials.

The survey "found that 64% of men surveyed plan to purchase new tires, while nearly four in ten women (38%) indicate they’ll replace their tires only when absolutely needed."

The survey also reveals that "amid the anticipated surge in tire shopping activity, drivers are cost-conscious and looking for the best deal. The appeal of tire rebate programs is growing, with 35% of drivers having purchased tires during a rebate program, and more than 60% saying they would consider such programs in the future to help manage costs.

"Generational data suggests younger drivers are particularly likely to jump on a deal. Gen Z and Millennial drivers are more likely to replace their tires when a sale or rebate is available, compared to Gen X and Boomers (12% versus 7%)."

The Hankook Gauge Index surveys attitudes and opinions about driving. The latest survey, conducted August 14 through August 19, polled 1,100 randomly selected Americans, aged 18 and older.