The world’s largest automaker, Japan’s Toyota Motor has retained the title of the industry’s most valuable brand this year even as the recent airbag recalls associated with auto safety supplier Takata have started to affect its worth.
According to the BrandZ Top 100 Most Valuable Global Brands study, which was released recently, following Toyota is the planet’s biggest luxury automaker – BMW – also retaining its position from last year. The market researcher Millward Brown added German automaker Mercedes-Benz came in to secure the last podium position. According to this year’s study, Toyota’s brand value has been declining by 2 percent to $28.9 billion, mostly because of its association (together with ten other carmakers) with the ongoing Takata airbag scandal. “When you look at the trust the Toyota brand generates from car owners, there is little dent from the airbag issues,” commented Peter Walshe, Global BrandZ director at Millward Brown. “The customer experience, the good value, and the quality that customers trust see the brand through.” Besides Toyota, Honda was the only other player in the top ten to have a decrease in brand value – also because of the effects of the massive airbag recalls – with the value sliding 5 percent to $13.3 billion.
Toyota has been the most valuable brand in eight of the ten years the study has been released, with second placed BMW earning 2 percent in value this year to $26.4 billion thanks to its innovative range of “i” models, the i3 battery-powered city car and i8 flagship with plug in hybrid powertrain. Mercedes soared one percent to $21.8 billion and Audi was the fastest-rising brand as it passed by parent VW AG to secure the seventh position – thanks to a 43 percent jump.
Via Automotive News Europe