From January to August 2010, Hankook Tire (China) sold a total of 650,000 truck and bus tires, and it is expected that sales will exceed 1 million during the year. From July to August 2010, Hankook Tire passed a number of promotional policies to increase the overall sales of truck and bus tires by more than 10% from the monthly average sales volume in the second quarter.
In spite of the unfavorable factors such as declining demand growth and rising raw material prices in the tire industry in 2010, Hankook Tire always accepts market challenges with a positive attitude. Starting from July 2010, Hankook Tire Co., Ltd. has implemented a one-quarter additional sales promotion for contracted circulation organizations in order to respond to the harsh market environment with retail stores and consumers as its core. At the same time, signing stores have launched annual sales rebates. In addition to increasing promotional efforts, Hantai Tire has held a unified conference on the price of branch stores and strictly controlled market regulations to ensure that agents have a healthy operating environment under the premise of protecting profits. In addition, Hankook Tire's card and passenger car sales have rapidly increased in the short term through adjustment of channels and a combination of sales promotion strategies such as public relations support activities. Hantai Tire always believes that strengthening the control of the development of channels at all levels and making good after-sales service is the key to improving brand awareness, loyalty, and reputation.
As early as many front-line tire brands also focused on the car tire market, Hankook Tire had a unique vision, foreseeing the huge potential of the card passenger car tire market and taking the lead in completing the layout of the Chinese car passenger car tire market. Hankook Tire, which entered the Chinese market in 1996, has mass-produced truck and bus tires since 2003, and its average annual growth rate has remained at around 20%. Hankook Tire has achieved high-speed development in China's tire market with its high-profile, stable and excellent quality.
Recently, the world’s tire giants announced the first half of 2010 reports, showing that the world’s tire industry has emerged from the downturn after a severe financial crisis last year, and sales revenue and profits have grown in tandem. The global automotive industry is also bottoming out in the context of government stimulus and economic growth, leading to a significant increase in demand for tires. Many domestic and international first-tier tire brands with considerable financial and technical strength have been optimistic about the Chinese car and passenger car tire market, and have started to develop medium- and long-term strategic plans for market share. According to data from the China Rubber Industry Association, sales of Chinese truck and bus tires will increase by 25% to 30% each year in the next few years, while total tire sales in China will increase by 15% per year. As the earliest global tire giant that entered China, Hankook Tire showed more and more powerful strength in China's fierce tire market. In 2010, Hankook Tire was not only committed to the continued high-end development of the passenger car tire business, but also the passenger car tire business is expecting a higher growth rate.
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