by David Barnett and Chris Anthony
Following some 20 years of ongoing cooperation between Tyres & Accessories and analyst David Barnett in the field of online tyre brand analysis, here Stobbs presents the results of a new study looking at the online prominence and sentiment of tyre brands.
The previous research was produced by Envisional and NetNames between 2005 and 2017, plus a recent study by Stobbs in January 2024. For the purposes of this report, the January 2024 data has been redesignated as the 2023 study for obvious chronological reasons and because it was largely reflective of the previous long-term data.
Set in the context of the earlier research, the latest study utilises a new and improved methodology for quantifying brand prominence and sentiment, as originally outlined in the study of the top 100 most valuable global brands in 2023. The basic calculation frameworks are outlined in Appendix A [of the previous study].
In the study, we consider a set of 150 tyre brands drawn from various sources, including Tyres & Accessories' list of leading tyre companies; Brand Finance's list of most valuable tyre brands, and also incorporating all brands considered in the previous NetNames/Envisional studies. The methodology involves the use of a series of generic tyre-related search queries to bring back a set of pages for analysis, resulting in a dataset of 3,918 distinct webpage URLs. Findings are based on searches and analysis carried out on 19-Nov-2024, utilising results returned on the first page of Google.com, browsing from a UK-based IP address.
The brands with the highest prominence scores are shown in Figure 1 and Table 1. The brands with the highest positive sentiment scores (i.e. the most favourably-referenced brands) are shown in Figure 2 and Table 2.
Figure 1: Top 30 brands by prominence score
Rank |
Brand |
Prominence score |
---|---|---|
1 | Michelin | 1.841 |
2 | Continental | 1.449 |
3 | Pirelli | 0.835 |
4 | Goodyear | 0.741 |
5 | Bridgestone | 0.564 |
6 | Falken | 0.557 |
7 | Dunlop | 0.471 |
8 | Toyo | 0.319 |
9 | Hankook | 0.275 |
10 | Yokohama | 0.242 |
Table 1: Top ten brands by prominence score
Figure 2: Top 30 brands by sentiment score
Rank |
Brand |
Sentiment score |
---|---|---|
1 | Michelin | 34.14 |
2 | Continental | 25.52 |
3 | Falken | 19.05 |
4 | Bridgestone | 18.55 |
5 | Goodyear | 17.16 |
6 | Pirelli | 16.86 |
7 | Toyo | 15.14 |
8 | iLink | 13.92 |
9 | Dunlop | 12.55 |
10 | Kumho | 12.13 |
Table 2: Top ten brands by sentiment score
Overall, as in the previous study, Michelin achieves the position of being both the most prominent and the most positively-referenced brand. Of the top ten most valuable tyre brands (as compiled by Brand Finance), nine appear in the list of the top ten most prominent brands (together with Falken, in sixth position, and with the exception of Giti, the 17th most prominent overall), and seven feature in the list of the top ten most positively referenced (together with Falken (3rd), iLink (8th) and Kumho (10th)). Broadly, there is a moderate positive correlation between brand value and both online prominence (correlation coefficient = +0.71) and online sentiment (correlation = +0.79) (Figures 3 and 4).
Figure 3: Comparison of online brand prominence score with brand value (for the top ten most valuable brands)
Figure 4: Comparison of online brand sentiment score with brand value (for the top ten most valuable brands)
Overall, only eight of the analysed brands achieved sentiment scores which were negative, of which the bottom three were Interstate (-2.14), Fullway (-0.51) and Headway (-0.50), based on identified mentions on 20, 8 and 13 pages, respectively.
It is also informative to compare the performances of the brands with those from the previous NetNames / Envisional studies (for those brands which were included in these earlier analyses), and with the most recent Stobbs study ('2023'). For comparisons of prominence, the scores from the earlier studies were renormalised (scaled), so that the mean score across all brands featured in the 2017 study was the same as that for the same group of brands from the 2023 study. The resulting trends over time in the relative prominences of the set of brands analysed previously is shown in Figure 5.
Michelin retains the top spot it has consistently held in all previous studies - though this year by an increased margin - and with the previous 'big six' (Michelin, Goodyear, Continental, Pirelli, Bridgestone, Dunlop) remaining within the top seven brands, though (as in the previous study) again joined by Falken, in sixth position above Dunlop. The other most significant change since the previous study is the drop in relative prominence of Goodyear, having fallen below Pirelli, whose prominence has risen slightly.
Similarly, we can also compare the relative sentiment rankings of the set of 18 brands which have been considered in some or all of the previous studies (Figure 6).
Figure 5: Trends over time in (normalised) prominence score, for the set of brands analysed previously
Figure 6: Trends over time in sentiment ranking, for the set of brands analysed previously
All 18 of these brands continue to receive positive sentiment scores overall (ranging from +1.14 for GT Radial to +34.14 for Michelin - compared with a score of +27.66 for this brand from 2023), indicating that commentary is generally favourable overall for this set of brands. In terms of the degree of positive sentiment, Michelin holds the top position it held in 2023 and in nine of the other previous studies (including a continuous run between 2007 and 2014). Falken continues to climb up the rankings (from 14th in 2015, 9th in 2016 and 2017, and 6th in 2023, to 3rd in 2024), and with other significant changes since the previous study seen for Kumho (up 4 places from 13th to 9th), Yokohama (up 3 from 15th to 12th), Nexen (down 6 from 7th to 13th) and Firestone (down 4 from 12th to 16th).
Finally, it is also possible to calculate a rudimentary 'brand strength score' for those brands for which a monetary brand value is provided by Brand Finance, based on a combination of (normalised versions of) the prominence and sentiment scores, and the brand value itself. The brand strength scores for these top ten brands, and the corresponding values from 2023, are shown in Figure 7.
Figure 7: Brand strength scores for the top ten most valuable brands, from the 2023 and 2024 (current) studies
This article was first published on 16 December 2024 as part of the Tyres & Accessories 'Trends & Facts 2024' report:
https://www.tyrepress.com/epaper/trends-facts-2024-by-tyres-accessories/