LONDON—Michelin is the world's most valuable tire brand for a second straight year, according to a ranking by Brand Finance Group, a London-based business valuation and strategy consultancy.
Michelin was rated No. 1 despite an 8.8 percent drop in brand value, to $7.23 billion from $7.93 billion. Brand Finance did not elaborate on its reasons for rating the brand No. 1 in its Automotive Industry 2019 report.
In general, the group defines brand value as the value of the trademark and associated marketing intellectual property within the branded business. Last year, Brand Finance Brand cited Michelin's strong research and development position and its successes in motorsports.
Bridgestone and Continental were ranked No. 2 and No. 3, respectively, for the second straight year, although both brands' value dropped versus 2018. Bridgestone was the No. 1 brand in 2017.