Michelin has maintained its position as the world’s most valuable tyre brand for the seventh consecutive year, according to new data from Brand Finance, the world’s leading brand valuation consultancy. The French brand’s value remained stable at $7.9 billion year-on-year despite facing challenges, including declining road transportation sales and reduced replacement market sales.

 Michelin also retained its title as the world’s strongest tyre brand, achieving a Brand Strength Index (BSI) score of 85.6 out of 100. While there was a 2.5-point decline in BSI, primarily due to lower-than-expected revenue forecasts, Brand Finance research indicates that Michelin excels in brand familiarity and customer recommendation. Additionally, Michelin commands the highest price acceptance in its home market.

 Bridgestone and Continental secured the second and third positions in the ranking, respectively, with 8 percent and 13 percent brand value increases. Bridgestone’s brand value rose to $7.6 billion, narrowing the gap to Michelin’s to just $254 million. Like all major tyre manufacturers, Bridgestone faced challenges due to increasing raw material prices and inflation. However, the company’s robust measures, including flexible supply management, contributed to a five percent year-on-year revenue increase.

With a brand value of $4.7 billion, Continental improved its BSI score by 3.2 points to 79.1 out of 100, driven by stronger scores in familiarity, consideration, and reputation.

Alex Haigh, Managing Director of Brand Finance Asia, said, “In a landscape where global tyre giants face challenges, the success of Chinese brands shines brightly. Their remarkable growth amid adversity underscores the resilience and dynamism of the Chinese tyre industry. With innovative approaches and a focus on sustainability, Giti emerges as the fastest-growing brand, buoyed by robust performance in China. Meanwhile, Linglong Tire, Sentury Tire, and Sailun are expanding their global footprint, leveraging cost-effectiveness to secure significant market share. As inflation grips traditional markets, the ascent of these Chinese brands heralds a new era of competition and opportunity in the global tyre market.”

 Giti emerged as the fastest-growing tyre brand this year, with a staggering 19 percent increase in brand value to $924 million, ranking ninth overall. This significant growth is supported by solid revenue growth forecasts, particularly in the Chinese market. Giti also saw a 6.3-point increase in its BSI score.

 Brand Finance’s research revealed Giti’s particularly strong performance in China, its largest market. Giti received a very high recommendation score in China, reflecting high customer satisfaction. Additionally, the brand achieved significant market recognition and acceptance, as evidenced by exceptionally high familiarity and consideration scores.

 Other Chinese tyre brands also witnessed notable brand value growth, including Sailun (up 10 percent to $ 801 million), Linglong Tire (up 11 percent to $ 799 million), and Sentury Tire (up 17 percent to $ 377 million). This growth is attributed to substantial overseas demand and a prosperous year for the Chinese tyre industry in 2023, marked by expanding overseas operations, high domestic demand, and favourable conditions for industry development. Notably, exports to South America increased by 33 percent.

Bridgestone will supply tailored-made tyres for Lamborghini’s Huracán STO, which will be launched in 2021.

Bridgestone ensured the high-performance tyre can maximise the Huracán STO’s traction, handling, control, and extreme overall performance.

Key to the tyre’s success in maximising the super sports car’s performance is the combination of pattern and cavity design. The Potenza tyres apply an asymmetric tread design for enhanced steering response and cornering stability, and an internal crown structure that distributes footprint pressure evenly when cornering.

As well as the road-focused, custom-developed Potenza fitment, Bridgestone will also be providing a track-oriented, road-homologated version of the tyre that applies “race” technologies to maximise the vehicle’s track performance, especially in dry conditions.

Steven De Bock, VP Consumer Replacement and OE at Bridgestone EMIA, said, “It’s been a pleasure for our team to work so closely with Lamborghini for the first time, and on such an exciting project. The Huracán STO is an incredible piece of engineering that deserves a custom tyre that can fulfill its full potential. I can proudly say that Bridgestone has delivered such a high-performance tyre. It has been fantastic for the team to have worked on a project that is at the forefront of technology in so many ways.”

Hankook, one of the major global tyre brands, has started testing and development operations at its new ultra modern facility in Spain.

The testing facility has been set up on the premises of the Applus+ IDIADA Group and can also cater to European premium car manufacturers that have their own demanding tyre tests. The facility is completely automated and will host a 20-member team from the Spanish testing centre, which is affiliated to the Hankook Europe Technical Centre.

Klaus Krause, Head of European Research and Development Centre, said, "With the further expansion of our testing capacities in Spain, we are reaching the next level together with our local partner Applus+ IDIADA."

He also added, "We are confident that the newly installed testing facilities in particular will significantly improve our efforts to provide the best tyre testing conditions and services to our employees and customers. In addition, we will also be able to conduct significantly more tests on site." (TT)

ASCENSO introduced a construction tyre - BLB 730- which is used for boom lift vehicles used in construction and other industries. It comes with several features that cater to the unique needs of aerial lifting equipment.

The BLB 730 tyre is available in different sizes to fit various boom lift vehicles. This range of sizes provides versatility and compatibility with different types of aerial lift work platforms.

“ASCENSO's BLB 730 tyre is a significant advancement in specialised equipment for the construction industry. It focuses on load capacity, stability, traction, and durability to improve the performance and safety of boom lift vehicles. Whether working at heights or manoeuvring on tough terrains, this tyre offers reliability and durability for efficient operations,” said the company in a statement.

The BLB 730 tyre is built to handle heavy loads and stabilise boom lift vehicles. It has solid lugs and a more extended shoulder design, which ensures good traction and prevents slipping during operation. This is important for safely carrying heavy weights at high elevations. ASCENSO has used a special rubber compound in making the BLB 730 tyre, making it durable and long-lasting, resulting in less downtime and more productivity on construction sites.

To make the tyre even better, the company has optimised its inner volume to reduce tyre fill consumption, reducing the risk of tyre punctures, minimising the need for maintenance, and keep the vehicles running smoothly.

Falken Tyre Europe is an official IHF Men's World Championship 2023 partner for the upcoming tournament, the company has announced. The tournament is taking place at nine venues in Sweden and Poland from 11-29 January, 2023. Falken Tyre claims that the partnership was organised by the sports marketing agency SPORTFIVE. SPORTFIVE is responsible for exclusive marketing and media rights for all IHF World Championships until 2031.

Falken Tyre claims that this is its second agreement with the International Handball Federation. In addition to title and logo rights (Official IHF Men's World Championship 2023 Partner), the company has also secured advertising rights, including the Falken logo in each goal and centre circle of the courts, as well as the presence of Falken branding in the official tournament social media communications and print materials. According to Falken Tyre, this is complemented by 30-second video ads that will be shown on the big screens in the nine sports halls before the start of each match and at half-time.

Sharing his views, Robert Müller von Vultejus, Chief Growth Officer at SPORTFIVE, said, “With Falken, the IHF World Handball Championships have secured a great partner who is positioned with far-reaching influence in the relevant core markets. We are delighted to have been able to bring two global partners together for one of the most exciting sporting events of next year.”

Markus Bögner, COO and President of Falken Tyre Europe GmbH, explained, “Handball isn’t just of great importance in Europe, but all over the world, which has led us to partake in this top-level tournament once again. The fact that the international tournament is taking place in countries that are among our core markets is another great reason for our involvement. We can also look back on a long partnership with our colleagues at SPORTFIVE, who always offers us excellent opportunities that are an excellent fit for the Falken brand, which stands for enthusiasm, performance and achievement.”