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Performance tires are designed for sports cars and high-performance vehicles, offering enhanced handling, superior grip, and improved responsiveness. Key features include asymmetrical or directional tread patterns, softer rubber compounds, stiffer sidewalls, shallower tread depths, and higher speed ratings. Benefits of performance tires include better handling, improved traction, shorter braking distances, and more responsive steering. However, they wear out faster, can be less comfortable, and may not perform well in winter conditions. Types of performance tires include summer, all-season, ultra-high performance (UHP), and max performance tires, each catering to different driving needs and conditions.