Hankook Posts Third Quarter Revenue Gain

Hankook Tire & Technology Co. Ltd.'s tire revenue during the third quarter of 2025 increased 11.2% from the same period in 2024.

Hankook's revenue from tires totaled $1.8 billion, a quarterly record for the company.

Globally, Hankook generated $3.7 billion in sales and $400.9 million in operating profit during the third quarter.

Tire sales

Hankook's tire revenue increase was "driven by volume growth in both OE and replacement, improved pricing and product mix" and other factors, according to Hankook officials.

"The global OE market showed regional differences in demand depending on tariff impacts and EV subsidies, while the company achieved OE sales growth, mainly in Korea, Europe and North America."

Meanwhile, the global replacement tire market "showed regional variations, but maintained overall stable demand, while the company achieved replacement sales growth across Korea, China, Europe and other markets."

Sales of 18-inch and above tires increased to 47.4% of Hankook's PLT tire sales mix, an increase of 2.6% from the third quarter of 2023. Sales of EV tires increased 7% year-over-year.

North America results

In North America, Hankook reports that overall replacement tire demand slowed "amid increasing external uncertainties," while EV sales increased "ahead of the expiration of U.S. EV subsidy benefits."

Sales volume declined in the replacement channel, "but improved high-inch (tire) mix drove qualitative growth." 

OE sales volume increased on a year-over-year basis, "driven by higher new vehicle sales in North America."

Hankook reports that the $1.6 billion expansion of its plant in Tennessee is "proceeding as planned, with sales activities to be reinforced upon completion."