On May 8, Kumho Tire announced that its consolidated revenue for the first quarter of 2026 reached 5.31 trillion won, with an operating profit of 506.9 billion won. This marks a 7% increase in revenue and a 42.9% increase in operating profit compared to the same period last year.
The tire segment alone saw revenue rise by 9.3% to 2.56 trillion won, with operating profit increasing by 31.1% to 437.5 billion won. The operating profit margin stood at 17.1%.
Kumho Tire attributed its success to the increased supply of new car tires for electric and hybrid vehicles, along with a rise in replacement tire sales in key markets such as Europe, South Korea, and China.
In the first quarter of this year, the proportion of sales for high-inch tires (18 inches and above) in the passenger and light truck tire segment rose to 49.1%, up 2 percentage points from the previous year.
The share of electric vehicle tires in the new car tire sales for passenger and light trucks increased to 29.6%, a rise of 6.6 percentage points compared to the same period last year.
Kumho Tire is also supplying new car tires for internal combustion and electric vehicles to global premium automakers such as Mercedes-Benz, BMW, and Ford. The company has established itself as a quality competitor by supplying new car tires for over 300 models across more than 50 brands, including Porsche, in the global automotive market.
The sales of Hanon Systems, a subsidiary of Kumho Tire since 2025, reached 2.75 trillion won in the first quarter of 2026, reflecting a 5% increase from the previous year, while operating profit surged by 361.1% to 97.2 billion won.
Kumho Tire expects its global production volume to continue to rise. This year, expansions at its production facilities, including the plant in Tennessee, are set to be completed. The company aims to achieve a 51% share of high-inch tires and over 33% for electric vehicle tires in its new car tire sales, while also accelerating partnerships with premium brands.
A Kumho Tire representative stated, "The passenger tire line at the Tennessee plant will be completed in the first half of the year, while the commercial truck tire line will be finished in the second half, with initial production expected to begin. An additional 5% of overall production, or about 5.5 million tires, is anticipated to be produced annually."
* This article has been translated by AI.
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