RIO GRANDE, Puerto Rico (Jan. 14, 2008) — Kumho Tire Co. Ltd.'s global sales jumped 10 percent in 2007 to $2.4 billion, a step toward fulfilling its goal of becoming fifth largest tire maker globally by 2015.
Kumho Tire U.S.A. Inc., meanwhile, saw its sales surge 22 percent to approximately $565 million, a $100 million increase from 2006, said David Hudrlik, senior vice president of sales for Kumho Tire U.S.A.
About 10.1 million units were sold in 2007, and 9.9 million of those units were sold in the replacement market, Hudrlik said. He said 2007's unit sales were up 1.8 million units from 2006.
Rick Brennan, vice president of marketing for Kumho Tire U.S.A., said that for Kumho to reach the No. 5 spot globally by 2015, the company would need to sell a projected 17 million units in the U.S. To reach that target, Brennan said Kumho is shifting its focus to promoting its brand as a premium-level product as well as expanding the size and line offerings in the marketplace.