Sales amounted to 3.55 trillion won (31.36 billion U.S. dollars), a year-on-year increase of 17.8%. Currently, Hankook has a total of five factories worldwide, two in South Korea, two in China and one in Hungary. The sixth global factory has settled in Chongqing. The first phase will be officially put into operation this month and will be completed in 2015. It will produce 11.6 million tires annually. In June 2011, Hankook Tire broke ground on its seventh largest plant in Indonesia. With the Chongqing plant's first phase of production and high-end facilities entering the harvest period, Hankook Tire's 2012 annual sales will again be well above the set target of 7.23 trillion won.
It is understood that the success of Hankook is due to a large extent due to the “pronged†Chinese market. As early as the last century of 1996, Hankook entered China and became the first foreign tire company to enter the Chinese market. Because of this, compared with its main competitors, Hankook has always had an advantage in its production capacity in China. The existing production bases in Huai'an, Jiangsu and Jiaxing, Zhejiang have reached 30 million, and in addition to ensuring the needs of the Chinese market, there are 30 % for export. Currently, Hankook has a 20% share of passenger vehicle tires in China and is in the leading position, supporting more than 20 automakers such as Shanghai Volkswagen, FAW-Volkswagen, Ford, GM, and Beijing Hyundai.
In addition to the increase in production capacity, Hankook also made great efforts in product development. Its product, VENTUSS1evo, won the “2012 China Annual Handling Tires†award.
Annually add 300 stores in China
In terms of business network, as of the end of July 2012, Hankook Tire had 1300 branded service franchises in 287 cities across the country, divided into three major systems: T-Station Bus, Chire Chi, TireTown Jiechi and TBX. This year, Hankook upgraded the T-Station car to the two branded passenger vehicle franchise stores. Both Chikichi and TireTown Jiechi unveiled the brand new logo “HankookMasters†to enhance service quality.
Zhao Xianfan said that China’s land area is large and only 1300 retail stores are far from meeting market demand, so Hankook plans to increase 300 each year. New shops are centered on big cities, and then gradually spread to second, third, and even fourth-tier cities.
In order to further enhance the professionalism of brand franchise store service personnel, in July this year, “Hankook Tire Training Center†was completed in Shanghai. Senior industry instructors provided on-site service and technical personnel to provide individual counseling. In addition, Hankook Tire also networked with more than 3,000 4S stores and equipped with 50 national professional after-sales service personnel to fill the gaps in the timely resolution and help of consumers who could not get tire problems in 4S stores or retail stores.
Breakthrough in high-end support
According to Zhao Xianfan, Hankook has achieved breakthroughs in its high-end facilities. Since the end of last year, Hankook Tire has provided tires for the BMW MINI, the new 1 Series and the new 3 Series in succession, and will also appear on the Audi A6L.
Zhao Xianfan emphasized that Hantai has all the strength to compete with any other competing brand, and it is technically not disadvantaged. To demonstrate this, Hankook Tire has been an active participant in top domestic competitions, including the National Touring Car Championship (CTCC), the National Automobile Rally Championship (CRC) and the popular POLOCUP. In 2012, Hankook Tire Co., Ltd. was already in the 6th year with the cooperation team involving all kinds of difficult road conditions for CRC. With continuous innovation in technology and excellent performance in tire stability, the team achieved 27 team wins, 28 driver championships, 6 team championships and 3 driver championships in the International and National Cups for six years.
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