Brand Finance: Michelin remains most valuable Tyre brand

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.

With its brand value increasing two per cent year-on-year to US$7.9 billion, Michelin occupied the top spot within the Tyres category of the Brand Finance rating for the sixth consecutive year. It is followed by Bridgestone, whose brand value is down one per cent to US$7 billion, and Continental, whose brand value declines three per cent to US$4.1 billion.

As well as naming Michelin as the most valuable Tyre brand, Brand Finance states that it is also the strongest, with a Brand Strength Index score of 88.1 out of 100 and a corresponding AAA rating. Brand Finance comments that Michelin’s high brand equity has partly enabled it to remain resilient to difficult macroeconomic challenges.

Another feather in the Michelin cap is that it has the highest Sustainability Perception Value of any Tyres brand in the ranking. Brand Finance values this at US$255 million.

Chinese brand Sailun is Brand Finance‘s fastest growing Tyres brand, with its brand value increasing six per cent year-on-year to US$700 million. Brand Finance credits this growth to the widespread media coverate that followed the launch of Sailun’s EcoPoint3 technology.