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, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.