Toyota Overtakes BMW as World's Most Valuable Car Brand
Toyota has reclaimed its position as the most valuable automotive brand globally, surpassing BMW with a brand value of $24.5 billion according to the latest BrandZ ranking.
Toyota has regained the top spot as the world's most valuable automotive brand, surpassing BMW in the 2013 BrandZ Top 100 Most Valuable Global Brands ranking. The Japanese manufacturer’s brand value increased by 12% to $24.5 billion, overtaking BMW, which saw its own value slip by 2% to $24 billion.
The ranking, compiled by Millward Brown, highlights the impact of new model launches and hybrid technology on brand strength. Toyota’s surge is credited to its broad hybrid strategy, which has resonated with buyers seeking fuel efficiency and value. The company’s ongoing rollout of hybrid models across its range has reinforced its market position, especially in key regions like China and the United States.
Brand values shift with model launches and hybrid focus
BMW, which held the number one position in 2010 and 2012, slipped to second place. The report links BMW’s decline to a slower pace of new model introductions compared with Toyota. Mercedes-Benz, meanwhile, increased its brand value by 11% to $18 billion, maintaining third place. Audi, Hyundai and Ford also posted double-digit gains, with Audi’s brand value jumping 18% to $5.5 billion.
- Toyota: $24.5 billion (+12%)
- BMW: $24.0 billion (-2%)
- Mercedes-Benz: $18.0 billion (+11%)
- Honda: $12.4 billion (-2%)
- Nissan: $10.2 billion (+3%)
- Volkswagen: $8.8 billion (+3%)
- Ford: $7.6 billion (+8%)
- Audi: $5.5 billion (+18%)
- Hyundai: $4.0 billion (+11%)
- Lexus: $3.5 billion (+2%)
The BrandZ report points to a direct link between model launch activity and brand value growth. Toyota’s aggressive push into the hybrid sector has not only expanded its product line but also reinforced its reputation for efficiency and innovation. BMW’s relative lack of recent launches, in contrast, has left it more exposed to shifts in consumer preference, particularly as demand for fuel-efficient vehicles rises.
China and US demand boosts brand values
Much of the growth for Toyota, Audi, Mercedes-Benz and Hyundai is attributed to increased demand in China and the US. These markets have responded strongly to new models and alternative powertrains, with hybrid and efficient petrol engines driving showroom traffic. The report suggests that manufacturers who invest in broadening their range and tapping into consumer trends, such as lower running costs, are best positioned to grow their brand value.
While Toyota has reclaimed the top spot for 2013, the contest for brand value leadership remains close. BMW retains a strong brand presence and continues to invest in new technologies and models, as seen in its recent focus on electrification and sub-brand development. For more on BMW’s brand evolution, seeBMW reclaims title as world’s most valuable car brand in 2012.
