NEXEN TIRE Reports Strong Third-Quarter Results, Driven by European Growth and High-Value Products
SHERIDAN, WYOMING – November 26, 2024 – SHERIDAN, WYOMING – November 26, 2024 -NEXEN TIRE, a leading global tire manufacturer, has announced impressive third-quarter results, with sales reaching 708.5 billion KRW, a 2.3% increase compared to the same period last year. This continued growth is fueled by strong performance in the European market and a strategic focus on high value-added products.
European Market Drives Growth
NEXEN TIRE's European market sales surged by 11.9% year-on-year, driven by strong winter tire sales in the replacement tire market and stable original equipment (OE) tire supply to premium car brands. The company's strategic partnerships, such as its collaboration with Manchester City Football Club, have also contributed to increased brand recognition and market share in Europe.
Expansion in Europe