Nexen Posts Record Quarterly Sales

Nexen Tire posted $569 milion in revenue and operating profit of $36.7 million during the first quarter of 2026.

"Despite the hostile business environment marked by slowing global demand and ongoing geopolitical risks, Nexen Tire achieved its highest-ever quarterly revenue and demonstrated continued growth momentum in key markets," say Nexen officials.

Sales growth was driven by "strong performance" in both North America and Europe. In addition, the recent plant expansion in Europe improved production stability, leading to increased sales from existing customers and more new clients. The company also maintained stable growth in original equipment (OE) sales thanks to its diversified product portfolio, even with the downturn in global automotive demand."

The Seoul, South Korea-based company's profitabilty improved thanks to enhanced product mix and "cost stabilization efforts. In particular, the sales share of high-value-added products such as premium OE tires and tires for SUVs and electric vehicles (EVs) continued to expand, while high-inch tires (18 inches and above) accounted for 40% of total sales. In addition, the company’s efforts to mitigate cost pressures related to raw materials and ocean freight were successful, contributing to an improvement in margins across the board."

Nexen also is expanding its product portfolio in each of its regions.

Looking ahead

"With current external uncertainties expected to continue into the second quarter, Nexen Tire is accelerating the diversification of its global sales structure while maintaining strong growth in key strategic markets, such as Australia and Japan."

The company also is enhancing its "distribution competitiveness by expanding regional distribution centers in key markets, while advancing its artificial intelligence (AI)-based virtual development process "using (its) high- dynamic driving simulator, which was introduced in South Korea last year. These efforts will further strengthen the company’s foundation for mid- to long-term growth."

"“We achieved solid results despite the uncertain business environment," during the first three months of 2026, say Nexen officials. "We will continue to respond proactively to market changes while strengthening product competitiveness and operational efficiency to sustain quality growth.”