Hankook Tire supplies tires to 2019 Ford Ranger
SEOUL, Dec. 19 (Yonhap) -- Hankook Tire Co., the world's seventh-largest tiremaker by sales, said Wednesday it will supply tires to Ford Motor Co.'s 2019 Ford Ranger midsize pickup truck for years to come.
In October, Hankook Tire began to supply the high-performance Dynapro AT-m tires for the 2019 Ford Ranger in the form of original equipment (OE) tires, the company said in a statement.
The company didn't give an exact timeframe for the supply deal.
The tiremaker has supplied tires to Ford vehicles, including the large F-150 pickup truck and the Econoline van, since 1999.
Supplying OE tires to car manufacturers does not generate much revenue for tiremakers but securing big companies as clients helps improve their brand image and can lead to the raising of product prices down the line.
For tiremakers, it is more profitable to sell replacement equipment (RE) tires in after-sales markets.
To enhance its global brand image, the tiremaker has shipped products to nearly 50 foreign carmakers, including Audi, BMW, Mercedes-Benz and Porsche.
Last year, Hankook Tire sold 99 million tires produced at its eight plants -- two in South Korea, three in China, one in Hungary, one in Indonesia and one in the United States.
Hankook Tire earns 30 percent of its total sales in the OE tire business, with the remaining 70 percent coming from RE tire sales.
kyongae.choi@yna.co.kr
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