The Tyre Rack
Phone: +64 7346 8471
Tyres Brands: Hankook, Yokohama
Address: 78 Fairy Springs Road, Fairy Springs, Rotorua
Opening Hours: Monday to Friday: 08:00 – 17:00, Saturday: 9:00-12:00, Sunday: Close.
The Tyre Rack Videos
▷ Hankook Tyres
Hankook Tyres NZ History
Hankook’s origins date back to the 1940s in South Korea, making it the first Asian manufacturer in history. Other brands had some manufacturing plants in this part of the world, but Hankook was the first to come out specifically from there.
One of the things that attracted the most attention from the beginning was the size of its facilities, which are still in Seoul today. At first, it made not only tires for cars but also for airplanes, as well as synthetic compounds for other industries.
The number of factories was expanded. First in other locations in Korea, then in Japan and China and later, after great success in their sales, they decided to establish subsidiaries in the United States. Shortly after they did the same in Europe, opening a headquarters in Germany.
Hankook wants to become a premium tire brand Currently, the South Korean manufacturer is the seventh worldwide in revenue, registering a total of 5.3 billion euros in 2017, so the goal that has been set is not easy. Investment in marketing and advertising, as well as placing the accent on high-end car brands and competition are the main pillars on which the manufacturer operates.
Hankook knows that it has come later than other manufacturers and that they are well established. Despite being a relatively young brand, born in 1941 and turning 77 last May, it has managed to open a gap between European, North American and Japanese manufacturers, which occupy the top positions in sales worldwide.
Hankook is the third largest Asian brand in the world in terms of turnover, only ahead of Bridgestone and Sumitomo. As shown in the table, drawn up according to data from the ETRMA (European tire manufacturers association), the gap between the first two brands, Bridgestone and Michelin, and the rest is remarkable, being the only ones that exceed 20,000 million euros in annual income.
Despite this, Hankook begins to close the gap with its immediate competitors: Pirelli and Sumitomo are close. In fact, in recent years, Hankook has not stopped growing in turnover, experiencing growth between 2015 and 2016 of 4% and almost 1% between 2016 and 2017. Its range supplies tires for both passenger cars and heavy vehicles and light, as well as competition.
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