Toyota has been named the most valuable automotive brand in the world for the 11th consecutive year by brand consultancy Interbrand.

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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).

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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.