Toyota manages to stay ahead of BMW in global brand value
Toyota has managed to defend its title as the world’s most valuable car brand again this year. Market researcher Kantar Millward Brown has just released the study that shows Toyota holding off BMW and Mercedes-Benz yet again despite recalls. Tesla, meanwhile, made the biggest improvement, rising two spots to No. 8 with a huge 32% increase in its brand value.
Toyota’s brand value decreased 3% to USD28.7 billion as increased sales were offset by tough currency challenges as well as increased investment and rising labor costs, according to the BrandZ Top 100 Most Valuable Global Brands.
“Toyota is seen as a reliable, quality value brand,” Peter Walshe, Global BrandZ director at Kantar Millward Brown. “Even when it was going through its recall problems, the users were saying, ‘What’s all the fuss about, my car is fine.’ Toyota has delivered great value for years.” Toyota has been No. 1 in 10 of the 12 years the study has been carried out.
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