Toyota, declared as the world’s most valuable car brand comes in estimated at $29.6 billion. It is for the seventh time in nine years that Toyota has been nominated automotive brand value leader by Brand Z Top 100 most valuable global brands.
Following Toyota, BMW stood second in ranking among automakers and ranked 32 overall with an estimated worth of $25 billion. These two leaders were succeeded by Mercedes at 42, Honda at 70, Ford at 84 and Nissan at 90th place while Volkswagen dropped 4% and one position bringing it at 7th place among automaker with an estimated value of $8.4 billion. This was a very comprehensive study taking into account brand equity based on over 2 million interviews with consumers using date collected from Bloomberg and Kantar Worldpanel.
In a recent interview with Automotive News Europe, Peter Walshe, Global BrandZ director at Millward Brown, said that Toyota owes its highest ranking among automakers due to the fact that the company concentrates heavily on its branding, quality and value. It also surges ahead in its green agenda as a hybrid leader.
Despite the fact that Toyota is noted for a number of recalls, it is noted more for the fact that it being an indigenous brand bring in a host of jobs to both US and UK.