Hankook Tire Gauge Index: Inflation Maps a New Route for Holiday Travel

Americans plan to hit the road to connect with friends and family this holiday season as they navigate high prices

NASHVILLE, Tenn., Dec. 1, 2022 -- While rising prices have some hitting the brakes on travel, most Americans will still pack their bags, according to Hankook Tire's latest Gauge Index survey. The newest installment of Hankook's ongoing consumer survey found 53% of Americans plan to travel by car between now and the end of 2022, compared to 30% who plan to fly.

Cost is a key consideration for Americans who intend to travel, more so than in previous years. When deciding whether to fly or drive to a holiday destination this year, cost ranked as the highest consideration (63%, up from 52% in 2021). As a result of the rising cost of travel, one-in-five (20%) will put their travel plans on hold altogether.

"The holiday travel season always brings busier roads, and that will be especially true this year as Americans seek to ease the impact of higher travel costs by driving," said JJ Park, Vice President of Marketing, Hankook Tire America Corp. "Traffic is inevitable, but fully preparing for a trip by ensuring that your vehicle is up to date on maintenance can help avoid any roadblocks that may hinder holiday plans."

To prepare for a road trip, the Gauge found that drivers typically fill up the gas tank (53%), check their tires (46%), and check under the hood (39%).

After several years of uncertainty and virtual gatherings, Hankook found Americans are eager to get together again. The biggest motivator for traveling over this holiday season is to see friends or family (43%). Another quarter (28%) of Americans are seeking rejuvenation, which includes both having fun, and rest and relaxation.

The Gauge found Christmas remains the most popular holiday for travel, with 45% planning to do so. However, Hankook also found that younger generations are more likely to travel for major holidays than their older counterparts. Sixty four percent of Millennials will travel for Christmas, compared to 26% of Boomers. But it is not that the parents are staying put, as Hankook found those with children are nearly twice as likely as those without children to travel for New Year's.

The Hankook Tire Gauge Index is a survey of Americans' attitudes and opinions about driving. The latest survey, conducted October 25-27, 2022, polled 1,042 randomly selected Americans age 18 and older who have a valid U.S. driver's license.

Hankook Tire America Corp. is a growing leader in the U.S. tire market, leveraging investments in technology, manufacturing and marketing to deliver high-quality, reliable products that are safer for consumers and the environment. Headquartered in Nashville, Tenn., Hankook Tire America Corp. markets and distributes a complete line of high-performance and ultra-high-performance passenger tires, light truck and SUV tires as well as medium truck and bus tires in the United States. Hankook Tire America Corp. is a subsidiary of Hankook Tire & Technology Co., Ltd., a Forbes Global 2000 company headquartered in Seoul, Korea.

SOURCE Hankook Tire America Corp.