Toyota (TM, Financial) kept its title of the world’s largest automaker for the third consecutive year in 2014 despite millions of recalls owing to the faulty Takata air bag issue. Recently the company was also announced as the world’s top auto brand in the Top 100 Most Valuable Global Brands’ report, which is an annual publication of the research firm Brandz.
Besides the Japanese auto giant, brand survey coordinated by the research organisation also has BMW (BAMXF, Financial), Mercedes Benz, Honda (HMC, Financial), Ford (F, Financial) and Nissan (NSANY) featuring in the list of 100 most valuable brands worldwide. Here’s a look at the ranking details and the brand value of the six automakers.
Toyota is on a roll
Only three automakers made it to the top 50 brands. Toyota held the 30th spot, followed by BMW and Mercedes that grabbed the 34th and 43rd position, respectively. Nevertheless, other automakers also did a fabulous job to enter the 100 club.
Toyota has an outstanding brand value of close to $29 billion, which is higher than the other car manufacturers. However, it’s important to note that the company’s brand value was up a staggering 21% in 2014 and this year it dropped 2%. Also, Toyota is four places behind last year. However, it managed to stay ahead of its counterparts. In fact, the Japanese automaker has made it to the top in four out of five occasions in the past.
For the first time, Toyota bagged the title of being the most valued auto brand in 2011 by surpassing German heavyweight BMW. The luxury carmaker regained its lost position in the following year, and again lost it to Toyota in 2013. The largest global automaker has not relinquished the position ever since and continues to be in a position of authority.
Other automakers close behind
BMW’s brand value stands at $26.3 billion, acquiring the second spot as the most-valued car company. Though BMW is in a respectable position, it has witnessed regular downfall in the past few years. In 2012, BMW was the 23rd-most valued company. It took a step down to the 24th spot in 2013. The company’s brand value has surged 2% in comparison with the 2014 survey.
Mercedes Benz and Honda held the 42nd and 70th spot with brand value of $21.7 billion and $ 13.3 billion, respectively, according to the automotive brand survey.
Ford’s automotive brand value stood at $13.1 billion which is an improvement of 11% as compared to last year. This helped the company to make its way to the top five auto brands. Nissan, holding the 6th spot, has a brand value of $11.4 billion, followed by the Audi, Volkswagen (VLKAY, Financial), Land Rover and Lexus that made it to the top 10.
In the global competitive car market, Apple (AAPL, Financial) and Google (GOOG, Financial) surged ahead with a brand value of $247 billion and $173.7 billion to take the first and second spots, respectively.
Last word
Being a top ranked automaker is indeed a matter of pride for Toyota. It suggests that customers look up to the name and are most willing to pay a premium for the brand. This is quite an encouraging sign for the automaker, particularly as the overall global auto market is facing recall-related headwinds which is increasingly becoming a big concern for auto players. The past two years have been the years of recalls with millions of vehicles getting affected. Also, the recent slowdown in China, which is being considered as the biggest auto market with solid growth prospects, is impacting global sales.
What remains to be seen is whether Toyota will be able to sustain its position in 2016 as well. Will the company’s brand value shoot up or remain flat? Only time will tell how the automaker’s brand value changes over time.
