Michelin has secured its position as the world's most valuable tyre brand for the eighth consecutive year, according to the latest Brand Finance report. 

The French manufacturer saw its brand value climb 11 percent to USD 8.8 billion, whilst also achieving the sector's highest Brand Strength Index score of 92.6 out of 100, placing it 15th amongst the strongest brands globally across all industries.

Brand Finance's research indicates Michelin enjoys exceptional familiarity and recommendation metrics across nearly all markets, underpinned by its reputation for quality, innovation and trust. Despite maintaining premium pricing—which can present challenges in price-sensitive segments where consumers struggle to identify the added value of high-end tyres—the brand continues to dominate on quality and reliability metrics.

Japanese firm Bridgestone maintained its second-place ranking with an 8 percent increase in brand value to USD 8.3 billion, bolstered by strong North American performance and ongoing investment in premium electric vehicle tyres.

Continental Tires rounded out the top three despite suffering the largest brand value decline among the top 10 contenders, falling 16 percent to USD 3.9 billion. The German manufacturer's drop reflects weaker 2024 revenue, persistently lower brand strength scores in the US market and a less optimistic outlook.

The combined brand value of the top 25 tyre brands rose 5 percent to USD 38.8 billion, outperforming the largely stagnant wider automotive sector. Industry players are heavily investing in innovations such as green tyre technology, smart RFID-enabled products and EV-specific offerings as vehicle electrification reshapes market demands.

"Tyre brands are driving growth by investing in innovation, digital integration, and EV readiness. Electrification is reshaping product demands, and international competition continues to intensify. Brands that adapt quickly to evolving technologies and shifting global markets are best positioned for future success," said Lorenzo Coruzzi, Director at Brand Finance.

Finnish manufacturer Nokian Tyres emerged as the ranking's fastest-growing brand with a remarkable 31 percent surge to USD 343 million. Within the top 10, Japan's Yokohama achieved the strongest growth, increasing 23 percent to USD1.5 billion, fuelled by record profitability, robust consumer tyre sales and effective pricing strategies.

China's Sailun broke into the top 10 for the first time, displacing Japan's Toyo Tires, which experienced a 4 percent decline to USD 852.1 million.

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Yokohama Rubber Co., Ltd. has been recognised as a Supplier Engagement Leader in CDP's 2024 assessment, achieving the highest rating for its efforts in collaborating with suppliers to address climate change.

CDP, a global environmental nonprofit, evaluates companies based on governance, targets, Scope 3 emissions, risk management and supplier engagement. This marks Yokohama Rubber’s third consecutive year and sixth overall time receiving top honours in CDP’s climate change evaluation.

Committed to achieving net-zero CO₂ emissions from its operations by 2050, the company has actively worked to reduce its environmental impact across the supply chain. Since 2013, it has disclosed Scope 3 emissions and implemented the Yokohama Green Procurement Guidelines to encourage sustainable material sourcing. Through annual CSR briefings, Yokohama Rubber engages suppliers in its carbon neutrality initiatives, fostering cooperation to lower emissions throughout the supply chain.

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Hankook Tire has published its 16th annual ESG Report for 2024/25, detailing its sustainability achievements and future strategies aligned with its global ESG vision focused on Eco Value Chain, Sustainable Products and Responsible Engagement. The report adopts a comprehensive framework that evaluates social, environmental and financial impacts in line with the European Sustainability Reporting Standards (ESRS), emphasising enhanced biodiversity disclosures compliant with international guidelines like the TNFD.

Key focus areas include eight major management priorities such as climate action, resource efficiency, human rights and innovation. Hankook Tire is also strengthening its response to global ESG regulations, including the EU Deforestation Regulation (EUDR), through a dedicated committee overseeing natural rubber supply chain management.

To support sustainable growth, the company has an ESG Committee under its Board of Directors, operational since 2021. It is also driving circular economy initiatives, such as commercialising Korea’s first tyre using chemically recycled PET fibre and mass-producing EV tyres with 77 percent ISCC PLUS-certified sustainable materials.

Beyond environmental efforts, Hankook Tire engages in social initiatives, including biodiversity conservation, employee development and community partnerships. Its long-term commitment to sustainability dates back to 2009, with milestones like the 2018 sustainable rubber policy and the 2023 board performance evaluations to enhance governance transparency.

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ZC Rubber has successfully commenced production of its first all-terrain vehicle (ATV) tyre at its Indonesian subsidiary, PT. Matahari Tire Indonesia (MTI), marking a strategic expansion into specialised mobility segments.

MTI’s state-of-the-art factory, covering 500,000 square metres, is strategically located in a region rich in natural rubber resources. Equipped with advanced digital technology and staffed by a highly skilled workforce, the facility is poised to meet the growing demand for high-quality tyres in both local and international markets, including the United States.

ZC Rubber’s investment in Indonesia provides access to vital raw materials and strengthens its global supply chain. The facility is poised to serve both local needs and support ZC Rubber’s international market expansion, reinforcing the company’s commitment to innovation, quality, and sustainable development.

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South Korean tyre maker achieves second consecutive quarterly revenue record despite raw material pressures

South Korean tyre manufacturer NEXEN TIRE reported record quarterly revenue for the second consecutive period on Thursday, posting consolidated sales of 804.7 billion won in the second quarter as increased European production capacity and recovering US demand offset global automotive sector uncertainties.

The company’s operating profit reached 42.6 billion won in the three months to June, remaining stable from the previous quarter despite ongoing pressure from elevated raw material costs that began in late 2024.

The strong performance was primarily attributed to enhanced production following the completion of Phase 2 expansion at NEXEN TIRE’s Czech Republic facility, combined with targeted regional sales strategies that secured key supply volumes across both original equipment and replacement market segments.

US sales strengthened further in the second quarter, building momentum from the first-quarter recovery after experiencing a temporary decline in the latter half of 2024. Expanded retail distribution partnerships supported the improvement, the company said.

In the Asia-Pacific region, Australia and Japan delivered record sales volumes, driven by continued investment in distribution network development.

Ocean freight costs provided some margin relief, though the company continued to face headwinds from raw material price increases that began in late 2024. However, NEXEN TIRE expects improved profitability in the second half as key input costs have been trending downward since early 2025.

During the first six months of 2025, the tyre maker began supplying original equipment tyres for 11 vehicle models, including the Hyundai NEXO, Kia EV4 and TASMAN, whilst deepening partnerships with global automakers, including premium brands.

The company said it would implement gradual price adjustments in the US market in response to recent tariff policy changes, focusing on expanding high-margin products and strategically reallocating global supply volumes to mitigate profitability risks.

“Despite persistent macroeconomic challenges, NEXEN TIRE achieved record-breaking sales for two consecutive quarters by maintaining balanced growth across both OE and RE segments,” said Chief Executive John Bosco (Hyeon Suk) Kim. “We will continue to reinforce our global competitiveness through strategic partnerships and region-specific initiatives.”

NEXEN TIRE has been building brand awareness through localised marketing efforts across North America, Europe, the Middle East, and the Asia-Pacific regions whilst expanding its retail presence through strategic distributor partnerships.

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