MRF emerges as ‘second strongest tyre brand in the world’

According to a recent report by Brand Finance, a U.K.-based brand valuation consultancy, MRF Ltd. has been ranked as the second-strongest tyre brand in the world. The report evaluated various parameters, and MRF scored high on most of them, including being the second fastest-growing tyre brand globally. With a score of 83.2 out of 100, MRF received a AAA- brand rating. The report also mentioned MRF as the most valuable Indian tyre brand and the only Indian tyre manufacturer in the top 10. Furthermore, MRF performed well in the Sustainability Perception Value category.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

About the 2023 report by Brand Finance

The 2023 report by Brand Finance assesses the value of brands in the automobile, auto component, tyre, and mobility industries. The report evaluates the net economic benefit that a brand owner would receive by licensing it in the open market as brand value. The report evaluates a brand’s strength by considering various factors, including marketing investment, stakeholder equity, and business performance. This scorecard is then used to determine the proportion of a business’s revenue that is contributed by the brand.

Important takeaways for all competitive exams: