KUMHO TOPS KOREAN REPLACEMENT TYRE MARKET FOR 2ND YEAR RUNNING
Thanks to continued strong sales of its premium patterns and the launch of new ones, Kumho has retained its leadership of the Korean replacement tyre market for the second consecutive year. According to recent data from the Korea Tire Manufacturers Association (KOTMA), Kumho topped the charts with sales of 6.52 million tyres for the year to December 2018, which accounted for more than 40 percent of all locally-produced tyres sold in the country.
The performance counters last year’s fears that the acquisition of Kumho Tire by Chinese-owned Doublestar might adversely affect the loyalty of Kumho’s Korean consumers. The fact that they are clearly continuing to opt for the brand in significant numbers suggests such concerns were unfounded and prompted an industry official to say: “Kumho’s rebound in the replacement tyre market could be interpreted as meaning the company is regaining consumer confidence.”
The firm’s encouraging performance on home territory is largely attributed to brisk sales of the Majesty 9 Solus TA91 that’s designed for use on high-end saloons, and the Crugen HP71 that’s proving popular within the ever-growing SUV sector in Korea. Launched in May 2018, the Majesty 9 is an improved version of the established Majesty Solus, and has been well received by motorists who appreciate its excellent levels of comfort and quietness. Sales of the Crugen HP71 increased by more than 155 percent last year, thereby serving as a considerable source of revenue for the company. The tyre, which was unveiled in March 2017, continues to enjoy increasing popularity among SUV owners who recognise the significantly increased driving comfort it offers on urban roads.