Toyota has held on to its position as the most valuable car brand in the world, finishing ahead of BMW and Mercedes-Benz in the annual BrandZ Top 100 study by British research group Millward Brown.
The top five most valuable global brands were Google, Apple, Microsoft, Amazon, Facebook. Google was valued at US$245.5 billion, Apple at US$234.6b, Microsoft at US$143.2b, Amazon at US$139.2b, Facebook at US$129.8b.
The brand value of the top 10 carmakers:
- Toyota – US$28.7 billion (NZ$39.8b)
- BMW – US$24.6b (NZ$34.1b)
- Mercedes-Benz – US$23.5b (NZ$32.6b)
- Ford – US$13.1b (NZ$18.3b)
- Honda – US$12.2b (NZ$16.9b)
- Nissan – US$11.3b (NZ$15.7b)
- Audi – US$9.4b (NZ$13.0b)
- Tesla – US$5.9b (NZ$8.2b)
- Land Rover – US$5.5b (NZ$7.6b)
- Porsche – US$5.1b (NZ$7.0b)
Toyota, BMW, Mercedes-Benz, Ford, Honda, and Nissan were the only car companies among the study’s top 100 most valuable global brands. Toyota was ranked 30th, BMW 35th, Mercedes-Benz 40th, and Nissan 100th. Tesla, Land Rover, and Porsche weren’t among the top 100.
Mercedes-Benz was the only one among the six leading car brands to finish higher this year than last year. It was ranked 44th in 2016, while Toyota dropped three places and BMW eight from their equal 27th position in 2016. Ford remained in 83rd place on the ladder, while Honda dropped eight places to 91st, and Nissan fell back one place to 100th.
Tesla, Land Rover, and Porsche mightn’t have finished among the top 100 global brands, but they climbed high into the automotive category in this year’s findings. Tesla jumped 32 places to 8th, Land Rover 17 places to 9th, and Porsche 16 places to 10th.
The Millward Brown study began in 2006. Toyota, BMW and Mercedes-Benz have been consistently at the top of the top 10 since then.
This year the research company singled out Tesla’s move to 8th place as showing how the power of clear brand purpose drives brand value. Two other brands that recorded this kind of excitement before entering the mass market were Apple and Facebook, it said.
“Tesla mostly threatens the luxury brands, but it potentially impacts (the) mass (market) as it introduces more popularly priced models,” Millard Brown says.
“The mass brands need to better differentiate and communicate their brand purpose, and the steps they are taking to keep up to date and improve people’s lives.”
The research company says that over the past 12 years, the brand value of the top 10 carmakers has dropped 6 per cent. “The brands struggled with declining demand coming out of the recession,” it said.
“Margins weakened because of extensive price discounting to drive volume. During this period, the composition of the top 10 shifted substantially.”
Consumers, it says, continue to see luxury brands as much sexier than mass brands, hence the appearance of Audi, Tesla, Land Rover, and Porsche joining BMW and Mercedes-Benz in the top 10.
“The most differentiated brand is Tesla, which increased 32 per cent year-on-year in value, while the car category remained unchanged,” it says.
“A disruptive brand that entered the top 10 for the first time a year ago, Tesla far outscores both luxury and mass brands on brand purpose, innovation, and being creative.”
- One brand occupying a place in many New Zealanders’ minds at the moment is US software giant Oracle, or rather the boat that has so far beaten Team NZ in the America’s Cup challenge series. Millward Brown has the Oracle brand in 46th place, with a value of US$21.3b (NZ$29.5b).