{
  "id": 1572892,
  "title": "Nexen Tire's weak product mix widens profit gap with Hankook, Kumho",
  "url": "https://urgent.news/2026/08/17/nexen-tires-weak-product-mix-widens-profit-gap-with-hankook-kumho",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-17T22:12:04.000Z",
  "source": {
    "name": "The Korea Times",
    "slug": "the-korea-times",
    "url": "https://www.koreatimes.co.kr/business/companies/20260818/nexen-tires-weak-product-mix-widens-profit-gap-with-hankook-kumho"
  },
  "original_language": "en",
  "account": "Nexen Tire's weaker product mix is causing its profitability to fall further behind its rivals Hankook Tire and Kumho Tire, according to recent data and industry insights. The South Korean tire manufacturer was the only one among the nation's three major tire producers to experience a drop in operating profit during the April-June quarter compared to the previous year. In contrast, Hankook Tire saw its operating profit surge by 58 percent, while Kumho Tire reported a 24 percent increase. Industry experts attribute the widening profitability gap to differences in product mix among the companies. The industry's shift towards larger tires, driven by the growing popularity of SUVs and large vehicles, is a key factor in this trend. Automakers are increasingly incorporating larger wheels in their premium models and electric vehicles (EVs), which often require tires that can handle greater weight and higher torque. This demand for high-inch tires, typically referring to tires with greater diameter, provides manufacturers with the opportunity to sell more technologically advanced and valuable products.",
  "summary": "Nexen Tire’s weaker product mix is widening its profitability gap with Hankook Tire and Kumho Tire, as the company lags behind its rivals in the shift toward higher-margin, high-inch tires, according to data and industry officials, Monday. Nexen Tire was the only one of Korea’s three major tiremakers to report a decline in operating profit in the April-June period from a year earlier. Hankook…",
  "key_points": [
    "Nexen Tire's product mix is weaker, widening profit gap with Hankook, Kumho.",
    "Hankook Tire's operating profit surged 58% in Q2 YoY, Kumho 24%.",
    "Industry shift to larger tires for SUVs, EVs drives product mix differences."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The Korea Times",
        "title": "Nexen Tire's weak product mix widens profit gap with Hankook, Kumho",
        "url": "https://urgent.news/2026/08/17/nexen-tires-weak-product-mix-widens-profit-gap-with-hankook-kumho-1574711",
        "published": "2026-08-17T22:17:03.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}