Michelin retained its title as the world’s most valuable tyre brand despite a 9% decrease in brand value to US$7.2 billion, according to the latest report by Brand Finance.

Brand Finance, the world’s leading independent brand valuation and strategy consultancy.

This year, The French tyre company topped the chart with a Brand Strength Index (BSI) score of 86.30 out of 100 and a rating of AAA. Michelin is the only brand in the ranking to score a AAA rating and its BSI is well clear of second ranked Bridgestone, with a BSI of 78.10 out of 100.

According to Brand Finance, over the last year, the tyre sector has suffered significantly, reflected in the rankings with seven out of ten tyre brands losing in brand value, notably: Continental (brand value down 28% to US$3.4 billion), Goodyear (down 10% to US$1.9 billion) and Hankook (down 8% to US$1.5 billion) thanks to market uncertainties and a drastic change in customer demands.

A plunge in Chinese car sales and growing preference for retreading tyres over brand new purchase have dented the industry’s margins. The imposing threat of American restrictions on foreign import competitors is also a matter of concern, as the industry prepares itself for President Trump’s proposed 25% tariffs.

Alex Haigh, Director, Brand Finance commented: “Brands in the replacement auto-parts industry - from tire component makers to local garages - are bracing themselves for President Donald Trump’s tariffs on imported Chinese materials and goods. Hefty levies have already amplified the costs of steel and aluminium products, and more tariffs could affect a whole range of other items these companies develop and sell. The bulk of this will be felt in the year ahead by those dealing in tires, rear-view mirrors and windshield wipers.”

Only two brands, Italy’s Pirelli and Japan’s Sumitomo reported an increase in brand value, up 6% to US$1.6 billion and up 33% to US$801 million respectively.

Pirelli and Sumitomo’s strong performances are driven by their commitment to diversification and efforts to differentiate their brands from competitors. Sumitomo has significantly increased its sales revenue over the last year, reporting a 16% rise, which has been boosted by the acquisition of UK-based wholesaler Micheldever Tyre Services Ltd, in a further boost to its European offering. Sumitomo has also been working with Dunlop (brand value up 1% to US$2.0billion) to open a new European Development Centre focused on product innovation and tire development.

Milan-headquartered Pirelli has positioned itself as a premium and powerful brand, renowned for its partnership with the Formula One World Championships to sponsoring wider sporting events including football, baseball and sailing. This strategic diversification combined with its strong Italian heritage has resulted in the successful differentiation from its competitors, and thus a boost in brand value.

Apollo Tyres Ltd has secured a one-season shirt-sleeve sponsorship agreement with AS Monaco, one of French football's most successful clubs, to increase awareness for its premium Vredestein brand.

This partnership will leverage Ligue 1's ranking as the fifth most watched football league in the world to raise awareness of Vredestein's award-winning products among a large audience in France and abroad. On November 22, AS Monaco's home league game against Brest will have the new sleeve branding for the first time. The Vredestein brand will be heavily promoted at Stade Louis-II for the 2024–2025 season, including on player sleeves and LED screens around the field. Exclusive social media initiatives will further help make the brand prominent, reaching a large and interested audience.

Yves Pouliquen, Vice President – Commercial, Europe, Apollo Tyres, said, “This partnership is an exciting opportunity to strengthen Vredestein’s presence in one of our key markets. AS Monaco’s rich history and commitment to excellence mirror our focus on performance and innovation. We look forward to building a successful relationship with the club and celebrating its achievements this season.”

Thibaut Chatelard, Marketing and Revenue Director, AS Monaco, said: “We are delighted to welcome Apollo Tyres and its Vredestein brand to the family of AS Monaco partners. This collaboration makes sense in view of the values we share, such as the constant pursuit of performance and excellence. There’s no doubt that this new support will be precious for the rest of our season, which promises to be thrilling.”

Nexen Tire, a leading global tyre manufacturer, has launched the Nexen N´Blue S tyre, adding to its range of summer tyres and providing drivers with advanced safety, energy efficiency and superior driving stability in wet and dry conditions.

Developed using highly dispersed silica and equipped with an optimised structural design, the Nexen N´Blue S tyre provides reduced road noise and improved driving stability. The tyre features an innovative tread compound, formulated with hydrophilic fillers and microstructure-controlled polymers, and provides lower rolling resistance and exceptional dry and wet grip. The tyre also excelled in test results by demonstrating an 11 percent improvement in wet braking distance compared to its predecessor.

Apart from providing excellent performance, the Nexen  N´Blue S also scores high on the sustainability index. The tyre provides an eco-friendly solution for environmentally conscious drivers by minimising fuel consumption and CO2 emissions. The Nexen N´Blue S summer tyre is available in 58 sizes, which makes it compatible with different types of vehicles.

Kumho Tire Vietnam Co., Ltd. is all set to expand its investment project in Binh Duong province of Vietnam, with the phase 3 of expansion commencing in early 2025. This was discussed at a recent meeting between Vo Van Minh, Deputy Secretary of the Provincial Party Committee and Chairman of the Provincial People's Committee (PPC), and Kim Hyun Ho, General Director of Kumho Tire Vietnam Co., Ltd.

The meeting was held on 13 November at the Administrative Centre of Binh Duong province, as per an official statement. Apart from the company’s investment till date and the planned investment for phase 3, the two also discussed about the challenges and obstacles regarding procedures and processes to have more land funds to expand the manufacturing plant, along with taking measures to tackle the obstacles. Kim Hyun Ho also conveyed to the PPC Chairman that Kumho Tire Vietnam Co., Ltd. belongs to South Korea's Kumho Tire Group and is currently ranked 10th in the car tyre manufacturing industry.

The company had invested in a tyre manufacturing plant in My Phuoc 3 Industrial Park in 2007 with a total initial investment of USD 308 million, which was supplemented by another USD 300 million in 2021. This extended the factory scale to six hectares and increased the production capacity to 12.5 million tyres annually. With the expansion in early 2025, the company will raise its total investment to USD 908 million and increase the factory's production capacity to 17 million tyres annually. The expanded capacity is expected to be operational by early 2026.

Yokohama-ATG, a leading manufacturer of all-terrain and off-the-road tyres, has expanded its Galaxy MFS 101 SDS range of forklift tyres with the launch of white, non-marking tyres.

The Galaxy MFS 101 SDS range consists of puncture-proof SDS tyres with extended wear limits designed for high-intensity working shifts and long durability. These are premium, solid rubber tyres developed for tough demands, a long service life and high driving comfort. The addition of white, non-marking tyres is specifically aimed at clean working environments.

Marked by a 3-stage construction process, the forklift tyres feature reduced heat build-up, effective shock absorption and minimised vibrations. The pattern design guarantees a smooth ride and good steerability thanks to its continuous centre lug and circumferential grooves. Furthermore, the flat walls and wide flat profile offer excellent stability when using a forklift for vertical stacking. The tyres are also equipped with anti-slip steel beads for improved rim fitment

In a case study on a CAT 2.5-tonne forklift that was used for handling heavy pallets on asphalt, the Galaxy MFS 101 SDS outshone the competitors with impressive performance. The tyre delivered an approximate 900 working hours before replacement against competitors’ 500 working hours.