What is Kumho’s general growth plan for its original equipment business in Europe and other regions?
Those OE partners play very important roles in our global strategy. Sales from OE supply take 30 percent of Kumho Tires’ total revenues (and OE sales in overseas markets account for 30 percent of total OE sales). But it is more than just a simple number. Lots of end-users still tend to re-purchase OE manufactured tires that were first installed when the cars were released. Also, it means that the quality of Kumho’s tires gets the credit from the automobile makers. Furthermore, we can easily make inroads into a new markets through our partnership with renowned car makers. For the first time among the Korean tire manufacturers, Kumho Tires succeeded in making an OE deal with Mercedes Benz (in 2007). With the reliability and quality we accumulated through this relationship, we could expand our supply to Mercedes Benz into the area of truck and bus radial tires (in 2009) for the first time in the local tire industry. Currently, we are supplying OE tires to Mercedes Benz, Volkswagen, Ford a
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