Nexen Tire's global revenue climbed 10.8% on a year-over-year basis during the second quarter of 2026.

The increase was the result of "continued growth centered on key markets including Europe, despite persistent external uncertainties in the business environment," according to Nexen officials.

The Seoul, South Korea-based tiremaker posted slightly more than $613 million in sales during the second quarter.

More details

"Amid slowing demand in the automotive market and persistent geopolitical risks, the company's efforts to expand its lineup of OE vehicles and diversify sales in the replacement market translated into solid performance.

"In particular, with more premium OE and high-inch products on offer, the sales mix of 18-inch and above tires rose to 38.8%, up 3.6 percentage points year-on-year," note Nexen officials.

"On the profitability side, cost pressures have increased due to external factors with rising raw material prices and ocean freight rates driving up costs. There were also a number of one-off expenses following the final ruling on US anti-dumping duties, which meant a higher tariff rate than projected."

Regional look

Nexen's sales in Europe surpassed $275 million during the second quarter, "driven by higher OE sales from the company's European plant," as well as business expansion into the United Kingdom, Turkey and other markets, plus "stronger local distribution and logistics capabilities due to the addition of a finished-goods warehouse to the plant.

"In Korea, strong sales of EV and SUV tires have continued, with an increase in both OE revenue and high-inch sales mix." 

CEO remarks

"Despite growing cost pressures from external factors, we have continued to achieve top-line growth on the back of strong sales in key markets," says John Bosco (Hyeon Suk) Kim, Nexen's CEO.

"With the stable ramp-up of the second-phase expansion at our European plant and the results of our distribution improvements in North America, we expect more tangible improvements in earnings."