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

Tags: National News

MRF Ltd has emerged as thesecond-strongest tyre brand in the world according to the latest report by Brand Finance on the 'Most Valuable and Strongest Tyre Brands' in the world.

An overview of the news

  • MRF has scored high in almost all parameters and is also recognized as the second fastest growing tire brand in the world.

  • It has scored 83.2 out of 100 in brand strength and has been awarded AAA- brand rating.

  • MRF scored high in the Sustainability Perception Value and is the only Indian tire manufacturer to feature in the top 10.

  • Brand Finance's annual report on the Most Valuable and Strongest Automobile, Auto Component, Tire and Mobility 2023 analyzes the value of brands across these industries.

  • Brand value is understood as the net economic benefit that a brand owner would gain by licensing it on the open market.

  • A brand's strength is assessed through a balanced scorecard of factors such as marketing investment, stakeholder equity and business performance.

About MRF Ltd

  • MRF (Madras Rubber Factory) is India’s No.1 tyre manufacturing company. 

  • It was started in 1946 by K M Mammen Mappillai as a small toy balloon unit. 

  • In November 1960 it ventured into manufacturing of tyres.

  • The company entered into a technical collaboration with Tire & Rubber company, USA.

  • Currently MRF exports tyres to over 65 countries including America, Europe, Middle East, Japan, and the Pacific region.

  • It has overseas offices in Dubai, Vietnam and Australia.

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