For a tyre manufacturer, success with original equipment fitments is quite an effective means of enhancing brand awareness. And Hankook, has grown through various phases of being an aftermarket tyre supplier and carved a position for itself in the league of world’s most popular and trusted brand of tyres.
Hankook is Scaling Newer Heights
Hankook Tire is among the busiest tyre makers, creating an enviable portfolio of upcoming vehicle approvals. This move will place it among world’s best-known tyre makers. A few very recent OE approvals included in Hankook’s catalogue happen to be OE fitments for S and E class Mercedes-Benz, BMW X5 and its 5-Series.
Hankook’s performance tyre production is growing fast and these deals only add to its success. Records state a year-on-year boost of 12.9% in its UHP tyre sales in Europe in 2013. And Hankook is evidently in a mood for some celebration. The company invited media correspondents from all over Europe and beyond to throw light on its current business strategy and its newest Ventus range.
‘The Ventus Experience’
The firm’s European CEO, Ho-Youl Pae, welcomed his guests to what Hankook calls ‘The Ventus Experience’. He addressed the journalists at Spain stating that their UHP Ventus tyres meet the highest levels of performance and quality standards. He quoted ‘Driving Emotion’, the company slogan, summarising their latest Ventus products.
Pae emphasised that commitment to innovation and continuous technological development have led them to provide an increasingly pleasant and satisfying driving experience, right from the moment their consumers turn the engine on.
Investments and Future Goals
These next generation Ventus products – Ventus S1 evo², its SUV variant and Ventus Prime² – are latest from Hankook. The company is investing significantly, at the moment, to accomplish a position among global leaders. In the past year itself, roughly, Hankook has invested around £800mn in building two new plants, one each in China and Indonesia, in a bid to enhance its worldwide production footprint. Moreover, it has also established its 8th production site in the US at the cost of around £500mn.
Hankook’s European PR Director, Felix Kinzer, added that the tyre manufacturer is investing to expand the capacity of its Hungary factory, in order that its annual tyre churn-out reaches a mark of 17mn from 2017.
Simultaneously, Kinzer added, it now has its R&D facilities spread out in world’s key automotive markets including Germany, US, China, Japan and Korea. Despite these heavy outlays, Hankook delivered substantial increase in net profits, thanks to higher sales in 2013.
Hankook’s three latest Ventus products represent its state-of-the-art positioning and have played a significant role in fostering its evolution. The tyre maker will definitely be keen on building upon this achievement further. It is quite evident that the company has its products, manufacturing and branding in perfect order and has big plans to accomplish a successful future.
Hankook’s likely future move will be to strengthen sales in Europe, particularly securing sales channels. And promoting it Ventus range of products is just the beginning to executing its tactful business strategies.
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