Kumho Tire’s performance in the European market has recently shown strong growth, the company has reported.
First quarter sales for 2023 were up 92 per cent on those of the same period last year at €165 million (Q1 2022: €86 million), while the quarter-on-quarter figures rose by a solid 15 per cent (Q4 2022: €143 million).
These results are viewed by the company as just the first stage in a period of sustained investment which it anticipates will result in ongoing growth within the region.
Kumho Tire plans to significantly increase its market share in Europe through improved competitiveness, expansion of its OE sales and major investment in infrastructure.
Commenting on the recent success and plans for the future, president of Kumho Tire Europe GmbH, Gangseung ‘Tony’ Lee said: “Our latest European sales results are clearly very encouraging, and a firm indication that we are moving our business in the right direction, especially when measured against the backdrop of our global sustainability goals.
“Our plans for further development within the region are very exciting and we look forward to revealing more about them in the coming months.”