Published on June 7th, 2018 | by Daniel Sherman Fernandez0
VW re-enters BrandZ ranking
After a two-year absence, Volkswagen brand has re-entered the ranking at No. 10 with a value of roughly USD6 billion, up from USD5.1 billion last year. VW dropped out of the ranking in 2016 and 2017 because of backlash from its emissions scandal. In September 2015, the automaker admitted that it used a so-called defeat device in its diesels to cheat government tests to measure vehicle emissions. While the scandal cost VW billions in fines, its customers remained loyal.
“VW maintained its strength in terms of its brand recommendation and brand trust. Those haven’t been dented,” Walshe said. “Although customers hear about these negative things, it doesn’t stop them from buying. VW’s sales have shown this.”
VW set a record with global vehicles of 6.23 million last year. “Yes, VW’s value is still lower than it was when it left the ranking [in 2015, when its value was USD9.3 billion], but it shows the power of brand to get you back on your feet.