The tyres Industry has taken a bad hit over the last year. Almost all of them have lost business and at the same time, they have lost brand value.
It is no rocket science that the lockdowns and the pandemic have taken a strong hit on vehicle sales and travel. Which also means lesser car sales. Which tunes up to lesser revenue, lesser demand, lesser equity across all the players in the industry.
Whatever the challenge, one needs to stand up for Michelin. The company has continued to hold onto the position of the most valued tyre brand and is valued at 6.84 Billion USD. While the rest of the partners are struggling, Michelin managed to speed ahead with its eco tyres & design innovations
Michelin also committed to making its tyres 100% sustainable by 2050. If we look at the competition, Bridgestone also has the same approach to business. They are marginally behind with being valued at 6.80 Billion USD
Continental tyres is the next podium finisher but is at almost half at 3.1 Billion USD.
Source: Brand Finance Automotive Industry 2021.