Hankook Tire Reports Record Revenue Driven by EV
Hankook Tire & Technology has announced its global consolidated financial results for the second quarter of 2026, reporting record quarterly revenue of $3.78 billion USD and an operating profit of $390.7 million USD—a 58.1% year-over-year increase.
Core tire business revenue rose 11.8% year-over-year to $1.87 billion USD, generating an operating margin of 17.2%. Meanwhile, thermal management subsidiary Hanon Systems contributed $1.91 billion USD in second-quarter sales and returned to net profitability.
Key Portfolio Performance Indicators:
- 18-Inch+ Fitments: Accounted for 49.5% of total passenger car and light truck (PCLT) tire sales.
- EV Fitments (iON Lineup): Represented 31.8% of total PCLT Original Equipment (OE) sales.
- New OE Contracts: Secured premium factory fitment contracts for the Porsche 911 Carrera, Audi Q7 and Q9 SUVs, and the All-New INFINITI QX65.
Hankook attributed its quarterly revenue performance to sustained demand for high-value-added products, leveraging data and engineering derived from its role as exclusive tire supplier to the FIA Formula E World Championship and the WRC.
For Canadian tire distributors, commercial fleet operators, and retail dealers, Hankook’s ongoing capacity expansion at its Tennessee production facility reinforces supply chain reliability for high-demand North American replacement fitments.
