• Monday, December 04, 2023
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Toyota beats BMW by whiskers in brand value


Japanese giant car maker Toyota successfully overtook BMW in a new ranking as a car manufacturer with the highest value. In the new annual ranking, the Japanese brand managed to surpass BMW by the whiskers as ‘Most Valuable Global Auto Brand’ maker. While Toyota is worth USD24, 5 billion in terms of brand value, BMW is worth USD24 billion.

This year so far, the value of Audi, Toyota, Mercedes-Benz and Hyundai have seen double-digit increases compared with last year, mainly due to increased demand in China and the US, according to the BrandZ Top 100 Most Valuable Global Brands study.

This year, Toyota’s brand value was up 12% to $24.5 billion, mainly due to the new models introduced in the hybrid market. As Peter Walshe, Millward Brown global brand director put it, “Toyota is carving out a very big position in hybrids across its range, which is tapping into the consumer need for value by saving fuel cost.“

Its hybrids are reinforcing the experience of the brand, and in so doing, Toyota continues to magnify what is special and different about it.” On the other side, BMW’s value dropped 2% to $24 billion, due to the automaker’s lack of new models introductions in the past years, compared with Toyota.

Toyota got a very high position in the world of hybrid cars. Toyota able to take advantage from consumers needs with fuel save costs, “said Peter Walshe, Millward Brown global brand director, told Automotive News. While BMW value dropped two percent to USD24 billion. BMW considered less introduced new models in recent years than the Toyota.

BMW had received first place in 2010 and 2012. Meanwhile, Toyota became the top in 2006 and 2009 and in 2011. Mercedes-Benz was the third among auto brands this year (43rd overall), with an 11 percent increase to $18 million in brand value, while Audi saw its brand value rise 18 percent to $5.5 billion thanks to strong demand in the U.S. and China for luxury cars, the study said. Audi didn’t rank in the top 100 brands, however.

The fourth automaker was Honda (71st overall), with its brand value estimated at $12.4 billion, with Nissan coming in 5th (86th overall) at $10.2 billion. VW was 6th (100th overall), with $8.8 billion. Ford, Audi, Hyundai and Lexus completed the top 10 auto brands, but none of them ranked in the Top 100.

BusinessDay motoring checks reveal that the automotive brands that grew the most were the ones that launched the most models and BMW remains a very powerful and distinctive brand.” Below shows world’s most valuable car brands in $billion; rank in top global 100; % value change from 2012. Toyota $24.5 (23) +12, BMW $24.0 (24) -2, Mercedes $18.0 (43) +11, Honda $12.4 (71) -2, Nissan $10.2 (86) +3, VW $8.8 3 (100) +3, Ford $7.6 +8, Audi $5.5 +18,Hyundai $4.0 +11 and Lexus $3.5 +2.

Current Score card

(1) Toyota USD24, 5 billion, (2) BMW USD24 billion, (3) Mercedes-Benz USD18 billion, (4) Honda USD12, 4 billion, (5) Nissan USD10, 2 billion, (6) VW $ 8, 8 billion, (7) Ford’s $ 7, 6 billion, (8) Audi USD5, 5 billion (9) Hyundai USD4, 0 billion, (10) Lexus USD3, 5 billion.