Toyota has been named the most valuable automotive brand in the world for the 11th consecutive year by brand consultancy Interbrand.
The Japanese car maker climbed two places to finish in eighth position overall, behind Apple, Google and Coca-Cola which filled the podium and one spot ahead of McDonald’s.
Interbrand’s data shows Toyota’s brand value increased 20 per cent this year to US$42.4 billion ($48.8b).
It was followed closely by Mercedes-Benz and BMW, which both rose one position each into 10th and 11th respectively. They boast almost identical brand value ratings: Mercedes US$34.3b ($39.5b) and BMW US$34.2b ($39.3b).
Honda was the next best automotive brand, retaining 20th position with a brand value of US$21.7b ($25.0b), up 17 per cent.
Volkswagen rose from 34th to 31st place on the back of a brand value gain of 23 per cent, now US$13.7b ($15.8b).
Kia climbed nine spots to 74th and Chevrolet leapt seven spots into 82nd.
Land Rover debuted on the list in 91st position with a brand value of US$4.5b ($5.2b), while Ferrari, 98th last year, dropped off the list in 2014.
Interbrand’s valuations are based on three key components: an analysis of the financial performance of the branded products or services, analysis of the role the brand plays in purchase decisions, and analysis of the brand’s competitive strength.