Toyota has retained its crown as the world’s most valuable car maker, according to a new study.
The BrandZ Top 100 Most Valuable Global Brands study released by researcher Millward Brown calculates values for the world’s biggest companies based on three main brand components. For a brand to be successful in the study, a brand must be: meaningful – whether it appeals to people, or even if consumers ‘love’ the brand; different – in that it benefits the consumer with new trendsetting features; and salient – something that comes to mind instantly.
The study found Toyota’s brand value to be the highest among car makers, up 21 per cent in 2014 to US$29.6 billion ($32.1b), though it has slipped three places to 26th position on the overall rankings table.
BMW, with a brand value of US$25.7b ($27.8b), is the next most valuable automotive brand according to the study. Its value has increased seven per cent compared with last year’s study, though it has fallen eight places to 32nd overall.
Fellow German luxury marque Mercedes-Benz claims third position among the automotive marques; its brand value increasing 20 per cent to US$21.5b ($23.3b) and its ranking rising one place to 42nd.
Honda’s US$14.1b ($15.3b) brand value, up 14 per cent from last year, saw it claim fourth among the car makers and 70th overall, while Ford took fifth and 84th places respectively with a US$11.8b ($12.8b) value, an increase of 56 per cent compared with last year’s study.
Nissan was the only other automotive brand to qualify for the top 100, slotting in at 90th position overall, down four places from 2013, with a value of US$11.1b ($12.0b), up nine per cent.
Technology companies dominated the study, claiming the top four positions. A 40 per cent rise saw Google claim top spot with a value of US$159b ($172b), bumping Apple down to second place at US$148b ($160b).