Hankook Tire & Technology has reported consolidated global sales of KRW 7.142 trillion and an operating profit of KRW 641 billion in 2021.
Having recorded solid sales in major regions during the first half of 2021, Hankook Tire has posted a 10.7 percent rise in sales and a 2.2 percent increase in operating profit year-on-year, the company said in a release.
Momentum slowed in the second half due to global supply chain disruption, semiconductor shortage and rising raw materials costs.
Key contributing factors included continued increase in sales of replacement tyres, effective regional pricing strategy and strong sales of high-inch tires. Sales of high-inch tires, 18 inches or higher, increased 3.1 percent compared to the previous year, accounting for 37.7 percent among total sales of passenger car tyres.
The fourth quarter was particularly a bump in the road for Hankook Tire. The company saw a decline in sales revenue that ended in KRW 1.889 trillion and its operating profit down 61.3 percent YoY and 51.3 percent QoQ at KRW 87.9 billion. This decrease was largely due to rise in operational costs and delayed sales opportunities caused by labour strikes at Hankook’s Daejeon and Geumsan plants in Korea.
However, sales of high-inch tyres rose 1.5 percent YoY to account for 38.9 percent among total sales of passenger car tyres in the fourth quarter. (TT)
Vittoria Launches Tire Finder Tool To Personalise Cyclist Tyre Selection
- By TT News
- August 04, 2026
Italian bicycle tyre manufacturer Vittoria has launched Tire Finder, a digital tool on its website designed to streamline the tyre selection process. The platform offers a personalised recommendation system that guides each cyclist towards the most suitable Vittoria products based on individual riding profiles.
The tool operates by posing a structured series of queries regarding a rider’s preferred discipline, style, terrain, priorities and performance goals. Responses generate a tailored selection, complete with explanations for each recommendation, covering road, mountain bike, gravel, BMX and commuting applications. An additional Mix & Match feature enables customised front and rear combinations to enhance grip, rolling efficiency and control for specific performance targets.
Catering to novices purchasing their first tyres and experienced racers seeking specialised setups, Tire Finder simplifies the decision-making process. The system delivers a personalised configuration that prioritises the rider’s specific ambitions, ensuring an informed and efficient path to the ideal tyre arrangement.
Michelin Launches Locally Manufactured Primacy 5 Tyre In India
- By TT News
- August 03, 2026
Michelin has introduced the MICHELIN Primacy 5 in India, marking a pivotal development for the tyre manufacturer as it represents the first passenger car tyre produced locally by the company. This new premium offering is specifically engineered for sedans and sport utility vehicles, signifying an important progression in Michelin’s operational footprint within the Indian automotive market.
The latest tyre is designed to accommodate the varied powertrains present in the contemporary automotive landscape, serving internal combustion engine vehicles, hybrids and electric vehicles equally. Through the application of sophisticated tread pattern optimisation and next-generation rubber compounds, the Primacy 5 aims to provide a balance of enduring safety, ride comfort, responsive handling and enhanced energy efficiency.
Performance metrics for the new tyre demonstrate substantial advancements in safety and durability. Compared to its direct competitors, the Primacy 5 offers considerably shorter wet braking distances for both new and worn tyres, along with improved dry braking performance. It also provides an eight percent increase in overall mileage over its predecessor, the Primacy 4ST, achieved through the integration of EverTread and EverGrip technologies that sustain grip throughout the tyre’s lifespan. Additionally, the tyre sets a new standard for ride comfort with a nine percent better comfort score than rivals, attributed to a noise-attenuating tread pattern, while also delivering a six and a half percent improvement in energy efficiency.
Having received the Tyre of the Year 2025 accolade at the Tire Technology International Awards, the Primacy 5 is slated for commercial release starting August 2026. Upon launch, it will be accessible to customers through Michelin’s own retail network and a nationwide distribution channel of approximately 800 authorised dealers.
Shantanu Deshpande, Managing Director, Michelin India, said, “India’s premium mobility landscape is evolving rapidly with growing demand for high-performance, safe and sustainable tyre solutions across sedans, SUVs and electric vehicles. The launch of the Made-in-India MICHELIN Primacy 5 marks a significant milestone for Michelin in the country and reflects our commitment to delivering products that are tailored to the needs of Indian consumers. Manufactured in India for Indian drivers, the Primacy 5 has been developed and tested on the vehicles most driven in the country, benchmarked against leading competitors, and validated by an independent testing agency. By combining Michelin’s latest global tyre technologies with local manufacturing expertise, the Primacy 5 is uniquely positioned to meet the evolving expectations of Indian motorists for superior safety, longer tyre life, enhanced comfort, energy efficiency and everyday performance. India continues to be a key growth market for the Michelin Group, and as we expand our retail presence and strengthen our manufacturing and service ecosystem in the country, we remain committed to bringing world-class mobility solutions closer to our customers while contributing to India's manufacturing ambitions.”
VMI Elevates Sustainability Ranking With Prestigious EcoVadis Platinum Medal
- By TT News
- August 03, 2026
VMI has secured the prestigious EcoVadis Platinum Medal, the highest possible distinction within the internationally recognised sustainability benchmark. This coveted recognition positions the Dutch company within the top one percent of all enterprises evaluated globally, a ranking determined by rigorous analysis of environmental practices, ethical conduct, labour and human rights standards and sustainable procurement policies.
This year’s Platinum accolade represents a significant advancement from the Gold rating VMI earned in 2025, underscoring a dedicated trajectory of enhanced corporate responsibility. The upgraded status highlights the organisation’s persistent drive to elevate its ecological and social governance benchmarks beyond its previous high standards.
The momentum behind this elevated rating stems from several key corporate initiatives launched over the past year. These include the institution of the enterprise-wide ‘We green it together’ programme, designed to empower diverse teams to achieve specific sustainability objectives, alongside the formal adoption of the VMI Sustainability Manifesto, which articulates long-term aspirations. The recent publication of the 2025 Sustainability Report further complements these efforts by transparently detailing the company’s measurable progress against its established targets.
Harm Voortman, President and CEO of VMI Group, said, “Receiving the EcoVadis Platinum Medal is a proud milestone for VMI and we share this medal with all our employees around the world. This recognition reflects the progress we have made in integrating sustainability into every aspect of our business. From designing more sustainable machines together with our customers to working closely with our suppliers, we continue to improve the sustainability of both our products and our operations. While we are proud to have progressed from Silver to Gold and now Platinum, we see this as a milestone in our journey to build a sustainable future.”
Hankook iON Race Proves Critical In Chaotic Tokyo E-Prix Double-Header
- By TT News
- July 31, 2026
Hankook Tire, the exclusive tyre supplier for the ABB FIA Formula E World Championship, played a central role in the season’s pivotal Japanese double-header. As the official race tyre for all competitors, the company’s iON Race compound was put to the test under extreme and shifting conditions during Rounds 14 and 15 of Season 12 at the 2026 TDK Tokyo E-Prix.
The weekend’s on-track action produced two dramatic winners. CUPRA KIRO’s Dan Ticktum snatched victory in Round 14 with a last-corner overtake on Jake Dennis, while Nick Cassidy completed the podium. The following day, Mahindra Racing’s Nyck de Vries claimed Round 15, finishing ahead of Cassidy and Dennis, who secured second and third respectively. The entire paddock also observed a period of remembrance for the late Cyril Blais.
The 2.575-kilometre temporary circuit, featuring 18 corners and situated around Tokyo Big Sight, hosted its first-ever night races, drastically altering track conditions from practice to competition. Unstable weather compounded the challenge, with a Sunday thunderstorm cancelling Free Practice 3 and leaving a damp, drying surface for Round 15 that demanded constant adaptation in tyre warm-up and strategy.
Throughout the weekend, Hankook’s iON Race tyre demonstrated reliability across the evolving grip levels and temperature swings. Following the Tokyo results, Dennis retains the championship lead with 146 points, narrowly ahead of Mitch Evans and Pascal Wehrlein. The title battle remains fiercely contested and will be resolved at the season-ending Hankook London E-Prix double-header on 15–16 August.
Manfred Sandbichler, Senior Director, Hankook Motorsport, said, “Bringing Formula E night racing to Tokyo for the first time made this a distinctive weekend and one of the more unusual tyre assignments of our season. The contrast between afternoon running and the 20:05 races shaped how teams prepared for both events, and the iON Race managed that transition and the changing weather conditions well, delivering consistent and predictable performance as the circuit cooled through the evening.”
Comments (0)
ADD COMMENT