Hankook Tire slows global tire production due to rising inventory levels
Rise in inventory levels comes even after steps to keep production levels down.
South Korea's Hankook Tire is scaling back its global tyre production due to rising inventory levels, reports Yonhap English News. The tyre-maker revealed that the number of unsold tyres has reached an all-time high of 660,000 units, which is as much as 8.5% of Hankook's monthly global tyre production of 7.75 million tyres. The company explained that the surge in inventory levels comes as demand has failed to pick up as anticipated, amid output expansions taking place directed at domestic and export markets.
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