Dynamic behavior of a pneumatic tire is simulated by use of an explicit finite element (FE) code. Different parts of the tire and their corresponding material properties are taken into account in the FE model because they play a significant role in tire dynamics. The work presented in this study discusses simulation of cornering behavior, braking behavior, and combined cornering‐cum‐braking behavior. The effects of camber angle and grooved tread on tire cornering behavior are discussed. ABAQUS/Explicit, a general non‐linear FE code, was used for these simulations. To predict the Magic Formula characteristics over a complete range, various simulations are performed at different normal loads and operating conditions. Predicted Magic Formula curves from the simulation results for various dynamic conditions closely follow the experimental data curves. Even though these simulations demand huge computational resources, the predicted Magic Formula curves can be directly used as input in the complete study of vehicle dynamics. Thus, this proposed approach minimizes the costly experiments needed to determine the Magic Formula characteristics and thereby forms a viable tool in the design and the development of tires.