Giti has been ranked 9th for Brand Value and 7th for Sustainability Perception in Brand Finance's 2024 Tire Brands Ranking. The recent release of the World’s Most Valuable and Strongest Tire Brands ranking by Brand Finance® highlighted Giti's exceptional growth and commitment to sustainability, positioning it as the fastest-growing tire brand in the world this year.
Giti's brand value surged by an impressive USD 924 million since 2023, marking a 19% increase that propelled the brand to 9th position in the Top 10 Tire Brands worldwide. This achievement underscores Giti's strategic investments and long-term growth, built over more than 70 years of development. Currently, Giti's Original Equipment Manufacturing (OEM) business is thriving, with the brand's tires featured on over 675 vehicle models globally. This extensive presence not only secures stable revenue growth prospects but also enhances Giti's brand visibility through vehicle exports from manufacturing hubs worldwide.
The brand's strong acceptance and loyalty are particularly notable in Indonesia, while its reputation continues to rise in the UK, Italy, and Germany. Giti's commitment to sustainability has been a key differentiator, earning it a 7th place ranking in Sustainability Perception. The company's ambitious targets, including 100% sustainably-sourced materials and Net Zero manufacturing by 2050, demonstrate its dedication to all-rounded sustainability. Giti has already reported year-on-year decreases in Carbon Dioxide Equivalent emissions, thanks to initiatives such as reforestation and the installation of solar panels to offset factory energy requirements.
Recognised by Brand Finance® for establishing a “solid, core technology system,” Giti is embracing Industry 4.0 concepts in its new factory, which is currently under construction. This facility will feature state-of-the-art manufacturing capabilities and the latest sustainable warehousing technologies aimed at reducing energy consumption.
Giti's extensive product range, including EV-ready tires, positions the brand to capitalise on the growing market for New Energy Vehicles (NEVs). With a global distribution network, Giti ensures the availability of high-quality products to meet increasing global tire demand. The company's focus on "Technology First" drives continuous innovation in tire technology, with advancements such as GitiSeal, GitiSilent, low-rolling resistance tires, sustainably-made tires, motorsports tires, intelligent tires, and RFID tires.
Ms Shiroo Chia, Head of Marketing (Rest of World) at Giti Tire, expressed pride in the company's achievements, stating, “We are proud of our achievements thus far, but Giti is not going to rest on these laurels. Supported by a shared corporate direction, our dedicated team from all around the world will continue to work hand-in-hand to further our developments sustainably, to build Giti into a brand that is synonymous with the future of the automotive industry.”
Giti's remarkable growth and recognition in the 2024 Tire Brands Ranking highlight the brand's strategic vision and commitment to sustainability, setting a strong foundation for its future in the global automotive industry.
