Nexen Tire Posts Record Q2 Revenue Of $577 Million On Strong European, US Demand
- By TT News
- August 01, 2025
South Korean tyre maker achieves second consecutive quarterly revenue record despite raw material pressures
South Korean tyre manufacturer NEXEN TIRE reported record quarterly revenue for the second consecutive period on Thursday, posting consolidated sales of 804.7 billion won in the second quarter as increased European production capacity and recovering US demand offset global automotive sector uncertainties.
The company’s operating profit reached 42.6 billion won in the three months to June, remaining stable from the previous quarter despite ongoing pressure from elevated raw material costs that began in late 2024.
The strong performance was primarily attributed to enhanced production following the completion of Phase 2 expansion at NEXEN TIRE’s Czech Republic facility, combined with targeted regional sales strategies that secured key supply volumes across both original equipment and replacement market segments.
US sales strengthened further in the second quarter, building momentum from the first-quarter recovery after experiencing a temporary decline in the latter half of 2024. Expanded retail distribution partnerships supported the improvement, the company said.
In the Asia-Pacific region, Australia and Japan delivered record sales volumes, driven by continued investment in distribution network development.
Ocean freight costs provided some margin relief, though the company continued to face headwinds from raw material price increases that began in late 2024. However, NEXEN TIRE expects improved profitability in the second half as key input costs have been trending downward since early 2025.
During the first six months of 2025, the tyre maker began supplying original equipment tyres for 11 vehicle models, including the Hyundai NEXO, Kia EV4 and TASMAN, whilst deepening partnerships with global automakers, including premium brands.
The company said it would implement gradual price adjustments in the US market in response to recent tariff policy changes, focusing on expanding high-margin products and strategically reallocating global supply volumes to mitigate profitability risks.
“Despite persistent macroeconomic challenges, NEXEN TIRE achieved record-breaking sales for two consecutive quarters by maintaining balanced growth across both OE and RE segments,” said Chief Executive John Bosco (Hyeon Suk) Kim. “We will continue to reinforce our global competitiveness through strategic partnerships and region-specific initiatives.”
NEXEN TIRE has been building brand awareness through localised marketing efforts across North America, Europe, the Middle East, and the Asia-Pacific regions whilst expanding its retail presence through strategic distributor partnerships.
JK Tyre Launches Specialised OTR Tyre Range At EXCON 2025
- By TT News
- December 10, 2025
JK Tyre & Industries Ltd. has reinforced its commitment to the construction and mining sectors with the launch of four new off-the-road (OTR) tyres at the CII EXCON 2025 trade fair in Bangalore. The products, unveiled by Dr R Mukhopadhyay, Director of R&D, expand the company’s specialised portfolio, focusing on application-specific performance for demanding environments.
A key introduction is the all-new SKY GRIP tyre, designed for Aerial Work Platforms and Boom Lifts. The size 355/55D625 tyre aims to provide enhanced stability and superior traction for equipment operating at elevated heights, ensuring safer mobility for articulated and telescopic boom lifts across diverse terrains in construction and industrial settings.
The launch also includes three critical variants for heavy machinery. For backhoe loaders, the 14.00-25 GTL PLUS promises durability and stability during excavation. The 23.5-25 GTL PLUS variant is engineered for wheel loaders, offering improved traction on demanding surfaces. Addressing the extreme conditions of underground mining, the 14.00-20 VEM AS-UG features a reinforced casing and a specialised compound to withstand abrasive environments and the rigorous duty cycles of shuttle cars.
From pioneering India's largest OTR tyres to developing advanced technologies, JK Tyre continues to strengthen its portfolio, providing reliable and high-performance solutions tailored to support diverse industrial operations.
Srinivasu Allaphan, Director – Sales & Marketing, JK Tyre & Industries, said, “India is witnessing a transformative phase in infrastructure development, and JK Tyre remains committed to support this journey. With the launch of our new OTR range at EXCON, we are strengthening our support for equipment that powers critical infrastructure, enabling greater productivity, durability and operational safety across the country’s construction, mining and industrial projects.”
Eurogrip Displays Premium Tyres At Automechanika Dubai 2025
- By TT News
- December 10, 2025
Eurogrip, a premier two- and three-wheeler tyre brand from TVS Srichakra Ltd., is exhibiting its premium portfolio at Automechanika Dubai 2025 from 9–11 December. The brand's presence at this major global aftermarket trade show marks its third participation. Featured products on display at Stand Z5 - H26 in the Dubai World Trade Centre include the new Trailhound range, comprising the Wild, STR and SCR models, and the Protorq Max prototype.
The showcase also highlights Roadhound, Protorq Extreme, Bee City, Bee Sport, Climber XC, Terrabite DB+ and Beamer VS tyres, alongside popular patterns like Badshah, Badshah LX, Jaya LX and Auto 150. This diverse lineup is the result of advanced research, performance-focused design and sophisticated tyre technology.
T K Ravi, Chief Operating Officer, TVS Srichakra Ltd., said, “Automechanika Dubai continues to be a significant platform for us as we continue to strengthen Eurogrip’s global presence. The expo is a great opportunity for us to engage with partners and customers across the globe, particularly the West Asia, Africa and key Gulf countries. We are delighted to be displaying our high-quality performance-oriented tyres.”
Galaxy Introduces New Construction And Mining Tyres at Excon 2025
- By TT News
- December 10, 2025
Galaxy, the off-highway tyre brand owned by Yokohama Off-Highway Tires, has introduced two additions to its construction and mining portfolio at Excon 2025 in Bengaluru, underscoring rising competition in India’s heavy-equipment tyre market.
The manufacturer unveiled the LDSR 500, an all-steel radial tyre for wheel loaders and dozers, and the RTSR 300, a model for rigid dump trucks used in mining and large construction sites. The launches reflect growing demand for tyres engineered to withstand higher loads, harsher terrain and longer operating cycles in India’s infrastructure sector.
Galaxy’s LDSR 500 features a non-directional pattern and deep tread intended to improve stability and extend service life. The RTSR 300 is designed for heavy-load haulage across varied surfaces and incorporates an open-shoulder pattern to aid traction and self-cleaning. Both tyres will be available in compounds tailored to specific applications.
Dyutiman Chattopadhyay, Chief Technology Officer at Yokohama-ATG, said the company aimed to broaden its range of advanced radial and solid tyres for the domestic market. “At Galaxy, we take pride in our customer-centric innovations and are excited to display an array of all-steel radials and large solid tyres that deliver improved wear characteristics and superior & trouble-free performance on tough terrains,” he said. “Our highly automated, state of the art facilities are well-equipped to manufacture customized tyre solutions for the Indian customers and we look forward to serving them.”
Anuj Thakar, Senior Vice-President for India and SAARC at Yokohama-ATG, said India remained a priority region. “India is a key growth market for us and it is a great pleasure to participate in the country’s biggest construction expo,” he said. “Our presence at Excon reflects our commitment to our customers in the region as we continue to provide the best tyre solutions for varied construction needs.”
The Galaxy stand also features several existing products aimed at mining, construction and material-handling fleets. These include the Mine Rock-XT, a nylon-casing tyre for use in both mining and construction; Hulk, a skid-steer tyre engineered for puncture resistance; and the LHD 510 SDS, designed with a deep groove for higher traction and lower heat build-up.
Other models on display include the Giraffe XLW, intended for backhoe loaders; the Yardmaster Radial, used on forklifts; and the LDSR 300 for loaders and articulated dump trucks.
Goodyear Shelves Plan To Exit India Farm Tyre Business After Strategic Review
- By Sharad Matade
- December 10, 2025
Goodyear has reversed an earlier plan to divest its farm tyre operations in India, opting instead to retain the business following the conclusion of a strategic review by its US parent company. The decision marks a shift in strategy for the US tyre group, which had been evaluating options for the division amid a broader restructuring programme.
Goodyear India disclosed the development to the Bombay Stock Exchange recetently, noting that the board had “took note of the communication received from The Goodyear Tire & Rubber Co., USA, i.e. the ultimate parent company that it has concluded the previously announced strategic review of its Farm Tire business in India and at this time has made the decision to retain ownership of the business.”
The review, initiated earlier this year, followed a sustained period of mixed performance in India’s agricultural equipment sector, where tyre demand is closely linked to tractor sales and rural income trends.
Retention of the business suggests the company sees continued strategic value in India’s agricultural market, one of the world’s largest for tractor production and a key geography for tyre manufacturers seeking stable demand cycles. The farm tyre segment, although subject to monsoon-driven fluctuations, offers long-term potential due to mechanisation trends and government support for rural development.
Goodyear India remains majority owned by the US group and manufactures a range of tyres for passenger vehicles and agricultural machinery. The company did not outline next steps for the farm division but said the communication from its parent should be taken on record.
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