Mercedes-Benz is the world's most valuable automotive brand, according to an annual report estimating the worth of the car industry's biggest names.
The Automotive Industry report, published by independent consultancy firm Brand Finance, found Mercedes-Benz's value had increased 8 per cent to US$65 billion (AU$98.5 billion) in 2020, enabling it to claim the title of "most valuable brand" for the third year running.
Brand Finance cited the German marque's investment in electric and autonomous cars and exploration of new business models, as well as its customer service record, as reasons for its high valuation.
"Mercedes-Benz has stayed one step ahead of its competitors because of its commitment to service and model development. Despite his departure, Dieter Zetsche has set the brand up for long-term success," Brand Finance's director, Alex Haigh, said.
Hot on Mercedes' heels in second place was Toyota, which saw an 11 per cent rise in value from 2019 to US$58 billion (AU$88 billion), thanks to stronger growth in Asia.
The brand that showed the fastest rise in value was, of course, Tesla, with a 65 per cent increase year-on-year, boosted by the opening of its Shanghai Gigafactory in 2019.
Jeep also showed growth of 62 per cent, with Brand Finance citing its plan to "broaden the brand into different segments and expand plug-in hybrid and electric options for the brand’s customers" as the reason for its upward trajectory.
Meanwhile, some of the world's top luxury brands sustained the steepest falls in value per Brand Finance's calculations, with Bentley seeing a drop of 24 per cent, Maserati falling 44 per cent and Aston Martin down 50 per cent in value.
Overall, brands that were embracing electric car technology were found to be the ones retaining or growing their value compared to competitors.
"The growth of electric vehicles is probably the most important trend in this year’s ranking with electric-only brands recording some of the fastest growth and almost all the major marques launching electric ranges," the report stated.
Brand Finance, which is headquartered in London, measures brand value via an assessment of the "net economic benefit that a brand owner would achieve by licensing the brand in the open market".
The 10 most valuable car brands (in US dollars), according to Brand Finance
- Mercedes-Benz – $65.04 billion
- Toyota – $58.07 billion
- Volkswagen – $44.89 billion
- BMW – $40.48 billion
- Porsche – $33.91 billion
- Honda – $33.10 billion
- Ford – $18.51 billion
- Nissan – $17.92 billion
- Audi – $16.97 billion
- Volvo – $16.91 billion
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