Toyota has been named the world’s most valuable automotive brand for the 10th year in a row.
Toyota retained its title as the most valuable car maker in a list that also saw Apple take out the overall title of ‘world’s most valuable brand’, beating previous leaders Coca-Cola and Google. The list was compiled by brand value assessor Interbrand.
Coming in at number 10 overall on the Interbrand 2013 Best Global Brands report, Toyota managed to stave off competition from Mercedes, the second-highest ranked car maker and 11th most valuable brand, and BMW, the 12th most valuable brand.
Toyota’s success comes despite the car maker having faced major hurdles in the past 12 months, including a boycott in China and its largest single recall ever relating to faulty power window switches in 7.4 million vehicles. Interbrand says Toyota’s ability to retain its title as the world’s largest manufacturer and continued ability to attract customers to its showrooms contributed towards its top 10 ranking.
The Japanese giant was judged to be so successful in managing its brand image that it also took out overall victory in Interbrand’s list of Best Global Green Brands, on the back of its success with hybrid powertrains.
In total, 14 automotive brands were ranked inside the world’s 100 most valuable brands, from Honda (20th overall, and fourth-most valuable automotive brand) to Ferrari (98th). Other brands included in the list were Volkswagen (34th), Ford (42nd), Hyundai (43rd), Audi (51st), Porsche (64th), Nissan (65th), Kia (83rd), Chevrolet (89th) and motorcycle manufacturer Harley-Davidson (96th).
Porsche and Nissan saw the highest percentage increases in their brand name strength and value from 2012 to 2013, while Chevrolet’s appearance marked the first time a General Motors subsidiary has been named a top global brand.
Interbrand’s annual Best Global Brands report ranks brands based on factors including their financial performance, advertising exposure, consistency, customer understanding, clarity and relevance. The 2013 list is the 14th report compiled so far.