Categories: Business

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.

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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: 

  • MRF Ltd Founder: K. M. Mammen Mappillai;
  • MRF Ltd Founded: 1946, Chennai;
  • MRF Ltd Headquarters: Chennai.

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Sumit Arora

As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.

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