According to a report by Brand Finance – world’s leading independent brand valuation and strategy consultancy, the French tyre manufacturing giant, Michelin has regained the throne of the world’s most valuable tyre brand for the year 2018. The company saw a 30% brand value growth this year helping it to dethrone last year’s winner, Bridgestone. The German automotive manufacturing company, Continental AG has retained its last year’s position and ranks at #3 in 2018.
Like every year, in 2018 too, there were a few gainers and losers. Tyre brand Dunlop is three positions up in the rankings and is now placed at #5 in the list, compared to its #8 position in the year 2017. However, Sumitomo witnessed a drop of four positions and is placed at #10, compared to its #6 position in the year 2017.
Each year, Brand Finance evaluates thousands of brands (belonging to a wide range of businesses) around the world to see which are the strongest and most valuable ones.
Let us have a look at the list of world’s most valuable tyre brands for the year 2018 with their brand value in USD millions and brand rating, and understand have they progressed or seen a decline in their overall value. The table also reflects the change from 2017.
|Brand Value (USD Millions)||7,930||6,089|
Michelin is a global leader in tyre manufacturing and is headquartered at Clermont-Ferrand in France. The tyre maker has a presence in 170 countries and employs approximately 114,100 employees globally. It operates 70 production facilities worldwide which produced about 187 million tyres in the year 2017.
In India, it has one production site in the southern city of Chennai with over 900 employees.
In pursuing its six ambitious objectives for 2020 and being a signatory of UN Global Compact and official partner of the COP Climate conference, Michelin aims to become the world’s top performing company in fulfilling its commitment. The French tyre manufacturer also owns BFGoodrich, Tigar and Uniroyal tyre brands.
|Brand Value (USD Millions)||6,992||7,413|
The Japanese tyre major, Bridgestone was founded way back in 1931 by Shojiro Ishibashi. The company has been able to build up its reputation as one of the world’s best manufacturer of the light and heavy vehicle parts and tyres. The group has consistently demonstrated the sustained commitment of employees to provide its customers with top-notch products and services.
Bridgestone has its business established in more than 150 countries and R&D facilities in 26 countries. In India, the company has tyre production facilities in Indore and Pune. Globally, it employs more than 1,42,000 people. The company’s sales mostly come from tyres (83%) and diversified Products (17%). Its market share in Americas is 48%, Japan 19% and the rest of the world contributes the remaining percentage.
|Brand Value (USD Millions)||4,756||3,612|
The German tyre giant was established in 1871 and is currently headquartered at Hanover. Continental AG for more than 14 decades has been the leading German automotive manufacturing company specialising in tyres, automotive safety and other parts. In 2001, the company acquired a controlling interest in Temic, Daimler Chrysler’s automotive electronics business.
Continental registered Euro 44 billion in sales in 2017 and employs more than 2,35,000 employees in over 60 countries.
|Brand Value (USD Millions)||2,175||2,099|
The American tyre manufacturing company was founded in 1898 and is headquartered at Ohio. The company went on achieving unassailable heights in the tyre manufacturing claiming the world’s first detachable tyre and the mass-produced car i.e. the Model T-Ford. Goodyear is engaged in manufacturing of tyres for different products such as automobiles, trucks and racing cars, airplanes, farm equipment and heavy earth-mover machinery.
In 2009, Goodyear and NASA invented “spring tyre” for the moon. The company has over 90 years of presence in India with two plants in Ballabgarh and Aurangabad. Today, it has facilities across the world and has an annual sales of more than USD 15 billion. In addition, it operates approximately 1,100 tyres and auto service centre outlets where they offer its products. Goodyear manufactures its products in 48 facilities in 22 countries.
5. Dunlop Tyres
|Brand Value (USD Millions)||1,984||1,100|
Dunlop has a distinction of being a tyre brand that is owned by various companies around the world. The company was founded in 1888. Other than manufacturing automotive tyres, Dunlop produces a wide range of tyres for ATVs, competition go-carts, motorcycles and commercial trucks.
|Brand Value (USD Millions)||1,590||1,382|
The South Korean tyre manufacturing group was established in 1941 and is headquartered at Seoul. Firstly named as Chosun Tyre Company, it was later renamed as “Hankook” which resembles Korea in the Korean language. Based on a commitment to technology and quality that has served as a foothold for its operation since the past seven decades, the company has established its name in the tyre manufacturing industry across the world. Hankook is available globally in 180 countries. In India, they have an office in Gurugram (Gurgaon).
|Brand Value (USD Millions)||1,524||1,821|
The Italian tyre manufacturer, Pirelli & C. Spa was established in 1872 and is headquartered at Milan. It is one of the world’s largest tyre manufacturing company with a presence in 12 countries worldwide. The company has 18 manufacturing plants and has a wide commercial footprint in more than 160 countries with approximately 14,600 points of sales.
The company has been sponsoring sports competition since a century and is also the exclusive tyre supplier for the Formula One Championship for the period of 2017-2019, which has been further extended till 2023.
8. Maxxis Tyres
|Brand Value (USD Millions)||900||820|
Taiwan’s largest tyre manufacturing company was founded in 1967 and is headquartered at Yuanlin. Maxxis Tyres is a wholly owned subsidiary of Cheng Shin. The company has a worldwide presence having customers in more than 180 countries, it has an employee strength of more than 30,000.
Maxxis’ operations are based in China, Vietnam, the United States, Great Britain, Holland, UAE, Taiwan, Thailand, Canada, Germany and Japan with a worldwide revenue in excess of $4 billion.
The segments in which it forays include moto/ATV tyres, bicycle tyres which further can be subdivided into road racing, downhill, MTB, mountain and others.
|Brand Value (USD Millions)||838||1,024|
One of Japan’s most famous brands, Yokohama was established in 1917, as The Yokohoma Rubber Co. Ltd., and is headquartered at Tokyo. The company has over the years focused on producing the highest quality tyres. It has been engaged in the production of a wide range of products such as tyres, industrial products and golf products.
Yokohama is engaged in business with more than 120 countries and employs around 20,000 people worldwide.
10. Sumitomo Tyre
|Brand Value (USD Millions)||601||1,577|
The Japanese tyre manufacturing company, Sumitomo Tyres is the premium export brand of Sumitomo Rubber Industries, Ltd. (SRI). The company was founded in the early twentieth century in the year, 1909 and is headquartered at Kobe. It is one of the most successful and influential tyre manufacturers in the world and is known for its product value and real-world performance.