Toyota holds place in annual valuable brands survey
For the 13th year running, Toyota has been named the most valuable brand on the world automotive scene.
Hanging onto first place in the 17th annual Interbrand survey of global brand value, Toyota ranked fifth overall, again behind Apple (1), Google (2), Coca-Cola (3) and Microsoft (4). The Japanese car maker’s 2016 result is one better than last year, however, with IBM dropping from fifth to sixth behind Toyota.
Among automotive brands, Toyota finished ahead of Mercedes-Benz (9), BMW (11), Honda (21), Ford (33), Hyundai (35), Audi (38), Volkswagen (40), Nissan (43), Porsche (50), Kia (69), Land Rover (78), Mini (88) and — for its first appearance —Tesla in 100th place
While Apple’s brand worth was valued at US$178m ($2.43m), Toyota came in at US$53m. Tesla’s brand, at the other end of the scale, was valued at a mere US$4 million.
According to Daniel Binns, a managing director with marketing consultancy Interbrand, Tesla’s arrival in the top 100 is a landmark moment for the list.
“The strength of the Tesla brand punches so far above its weight,” Binns told business paper Forbes.
“It has such a presence among the man on the street that, when you ask them who’s innovating in this category, it’s Tesla, despite the small number of cars it has produced so far.”
Binns said Tesla’s ascendancy can be attributed to the unveiling of the “affordable” new Model 3, which became available for pre-order on the same day and quickly racked up hundreds of thousands of deposits.
“The market has responded to that car,” he said.
Interbrand’s valuations are based on three key components: 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.