Commenting on the “excellent news” that it has retained tenth place amongst the world’s tyre makers on the Brand Finance Automotive Industry 2023 ranking of most valuable brands, Giti states it is “very honoured” to have received this accolade. The tyre maker also notes that Brand Finance listed Giti among the top ten tyre brands in its Sustainability Perceptions Value ranking.
While Michelin was found to the be most valuable tyre brand, as we previewed a month ago, the 2023 Brand Finance data also shows Michelin is the strongest brand with a Brand Strength Index score of 88.1 out of 100 and a corresponding AAA rating. However, there were also significant shifts between 10th and 15th place in the ranking of the world’s leading tyre brands. Specifically, Sailun leapfrogged Linglong into 11th place in the “most valuable” category. And MRF rose two places from 15th to 13th this year. Meanwhile, Dunlop’s brand value shrank three-times faster than Sailun Tire’s grew.
No movement occurred on the podium of Brand Finance’s most valuable Tyre brands ranking for 2023, but while Michelin, Bridgestone and Continental respectively retain first, second and third places, Sailun appears on the radar as the fastest-growing tyre brand.
The complete data isn’t out, but a preview of the Brand Finance Global 500 gives a clear insight into what we can expert from the market research company’s tyre ranking when in is published in the coming weeks. The headline news is that Michelin has significantly extended its lead at the front of the pack when it comes to tyre brands.
Not only did Giti break into the top 10 of Brand Finance’s annual tyre brand ranking, but it is also amongst the fastest risers. According to the company, this result “underscores the efficiency of the strategies adopted in the last two years to overcome the problems resulting from the Covid19 pandemic”.
Michelin has once again topped the tyre table within Brand Finance’s ranking of the world’s strongest and most valuable brands. Michelin achieved a brand value of US$7.7 billion and a brand strength index score of 85.8 out of 100.
Following last month’s preview of the 2021 report, Brand Finance has released its full Tyres 10 ranking. According to the 2021 table, the tyre sector has taken a hit over the last year, with all 10 brands losing brand value. Brand Finance unsurprisingly puts this decline down to the pandemic-related behavioural changes: “Owing to the lack of travel due to lockdowns, car sales are declining, which means tyre brands are selling less units, resulting in a drop in market equity across the industry. Furthermore, since the economy has been riskier in general over the past year, investor risk has increased, triggering a rise in the cost of capital.”
Brand Finance normally releases its tyre brand ranking in March, but the analysts’ list of the top 500 brands in the world gives us a preview of what we will see in roughly a month’s time. Published at the end of January 2021, the latest Brand Finance report ranks companies according to their brand’s strength and monetary value. Michelin and Bridgestone are the only two tyre brands in the top 500 and it is clear that the competition between the two continues to heat up.
In addition to being the strongest brand globally, according to Brand Finance, Michelin has been named the world’s most valuable tyre brand for the third year in a row. However, the gap between first position and second-placed Bridgestone narrowed, meaning the Japanese tyre manufacturer is well-placed to regain pole.
Michelin remains the world’s most valuable and strongest tyre brand, according to the latest Brand Finance Automotive Industry report. However, while Michelin has retained its top position for the second year in a row since it gained the crown from Bridgestone in 2018, Chinese tyremaker Linglong Tires cemented its position as an up-and-coming tyre brand by entering the top 10 after a couple of years of being tipped as a fast riser.
Michelin has defended its title as the world’s most valuable tyre brand despite a 9 per cent decrease in brand value to US$7.2 billion, according to the latest report by leading independent brand valuation and strategy consultancy, Brand Finance.
Italian supercar manufacturer, Ferrari, has claimed the title of the world’s strongest brand, according to the latest Brand Finance Global 500 2019 report launching today at the World Economic Forum in Davos. Ferrari’s Brand Strength Index (BSI) score increased three points from 91.5 to 94.8 out of 100 over the past year, overtaking the likes of McDonald’s, Coca-Cola, Lego, and Disney. The iconic auto brand last held the title of the world’s strongest in 2014. Michelin and Bridgestone represented the tyre sector in the latest edition of the top 500 ranking.
The Brand Finance Global 500 2019 report has listed two tyre brands, Michelin and Bridgestone, in its ranking of the world’s 500 most valuable brands. The top two biggest tyre manufacturers in the world both saw their brand value fall in value this year according to the brand analyst, but hung on to placings in the top 300. Michelin took over from Bridgestone as the world’s most valuable tyre brand in 2018, according to the organisation’s sector-based rankings.
While the headline Brand Finance ranking news is the resurgence of Michelin as well as the growth of the Chinese brands, Dunlop and Pirelli’s performance in the Brand Finance ranking is also worth noting – for completely different reasons.
The Michelin brand’s value has grown some 30 per cent to US$7.9 billion in the latest Brand Finance Tyres 10 ranking. As a result Bibendum is now the world’s most valuable tyre brand.
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