The most recent ranking by Brand Finance Tyres was released and it shows that Michelin has experienced an increase of 30 per cent. It now sits at a value of $7.9 billion US dollars. Because of this, Bibendum is awarded the most valuable tyre brand in the globe. The brand is currently available in dealers of Gold Coast tyres and is one of the most preferred by car owners.
The top spot was previously owned by Bridgestone but its value has decreased by 5 per cent thus it now holds only $7 billion US dollars. This is the reason why it moved down to second place from its former top ranking awarded by the Brand Finance Tyres annually.
Michelin does not only top value but it is also the number one in terms of strength. The score based on its BSI or Brand Strength Index is 86.9 with 100 as the highest. With the score, the rating of the tyre brand has also moved up to triple A.
The reason why the Michelin brand is so strong is because of the technology it employs along with a purpose to achieve sustainability. One of its most recent concepts is a tyre created through 3D printing which does not required replacement as it is able to adapt to different road conditions. In terms of motorsport, Michelin is also creating a buzz as it bagged the first place during the Le Mans 24hr race. The brand is also equipped in the cars driven during the Formula E races which are considered to be the best platform for tyre manufacturers to present the latest technology they have developed.
While things are going well for Michelin which is a famous Gold Coast tyres, the same cannot be said of the three Japanese brands that are included in the top ten ranking. Bridgestone received a huge amount of investment but it still suffered a decrease in brand value. The brand will be sponsoring the 2020 Olympics and it is also the shirt sponsor for the Chelsea Football Club. Aside from Bridgestone, losses were also felt greatly by Sumutomo Rubber Industries together with Yokohama.