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Study: World's Most Valuable Car Brand Revealed
Toyota remains the world's most valuable car brand; the Japanese carmaker has occupied the top spot for 10 of the last 12 years.
Toyota is the world's most valuable car brand as per a recent study conducted by a market research group.
The ranking, which is part of the annual BrandZ Top 100 Most Valuable Global Brands study, places the world's most valuable carmaker by overall brand value.
Toyota continues to rule and holds the No. 1 spot for the past 12 years, despite the fact that its value was down 3 percent in 2017 compared to the previous year's study. The company held off BMW and Mercedes-Benz to the top spot.
Toyota boasts a total brand value of $28.7 billion. Second on the list is BMW with a total brand value of $24.6 billion despite slipping eight percentage points compared to 2016, though, the dip was attributed to rising investment costs and a sales lull in the U.S.
BMW is also starting to feel the pressure from its German rival Mercedes-Benz, whose value increased by 4 percent to $23.5 billion, making it the world's third most valuable automotive carmaker.
The top three carmakers have a large gap on the remaining seven. Tesla was possibly the biggest performer of the past year, increasing 32 percentage points to exceed Land Rover and Porsche in the ranking.
"Toyota is seen as a reliable, quality value brand," Peter Walshe, Global BrandZ director at Kantar Millward Brown, told Automotive News Europe. "Even when it was going through its recall problems, the users were saying, ‘What's all the fuss about, my car is fine.' Toyota has delivered great value for years."
As for Tesla's performance, he said, "The Tesla story is interesting because it is not just the cars it offers now, it is the promise for the future. There is a perception that it offers a fantastic brand experience, even among non-owners. The only other brands that I've seen have this kind of appeal before they got into the mass market were Apple and Facebook."
