Hankook Tire is Now the Sixth Largest Tyre Manufacturer in the World


Hankook Tire’s ranking improved from 7th in 2019 to 6th in 2020 announced by the British tyre magazine Tyrepress with sales of KRW 6.454 trillion.

Hankook Continues to Strengthen it's Standing

Hankook Tire is now ranked sixth in the 2020 global leading tyre manufacturers released by the renowned British tyre magazine Tyrepress, improving from the seventh place a year ago.

Tyrepress’ ranking of the world’s top tyre companies is based on the revenue. Hankook Tire recorded global sales of KRW 6.454 trillion in 2020 to become the sixth largest tyre maker in the world. This achievement adds significance as the industry navigated through a difficult year highlighted by the challenges brought by the COVID-19 pandemic.

More significantly, Hankook Tire’s operating profit also rose by 15.5% in 2020 year-on-year, proving the company’s qualitative growth. With solid foundation supported by top-notch technology and excellence in product quality, Hankook’s sales of high-inch tyres (18 inches and higher) increased 3%p year-on-year to account for 35% of the total sales of passenger car tyres, which helped solidify the company’s leading role in the industry.

In addition to Hankook’s place in the global rankings published by Tyrepress, the company gained remarkable recognition for its technology excellence in 2020. Hankook received top ratings in several tyre tests from the most rigorous institutions in Germany and the United Kingdom, and was ranked as the best-selling brand across three categories from all-season to summer and winter tyres in the European e-commerce platform, Tyre24, where the result was based on consumer preference survey.

Hankook continues to strengthen its standing as a premium brand by expanding its partnership with car makers, including the OE supply to Porsche's first high-performance electric sports car, Porsche Taycan, to Audi’s top model in the Q product line, Audi RS Q8 as well as to Audi’s RS line up that includes Audi RS7 Sportback and Audi RS6 Avant.

About the author

Richard Wilson is a correspondent for The Tyreman. Since 2015, Richard has worked as a correspondent for all of the titles across the Valebridge Publications Ltd Group namely: Retreading Business, Tyre & Rubber Recycling, Commercial Tyre Business and Truck and Bus News. Richard has worked on/off from the age of 16 for the company and whilst gaining a Bachelor's Degree in Spanish and Business Studies at Coventry University, he developed his writing skills at the University paper and more recently writing his own independent blog.

Contact: richardjwilson@btconnect.com

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