Toyota Remains World’s Most Valuable Automotive Brand
Toyota has retained its top spot among automakers in BrandZ’s Top 100 Most Valuable Global Brands 2016 report for the second consecutive year, with a brand value estimated at $29.5 billion, marking an increase in value of about 2% while the rest of the automotive industry fell an average 3%.
The study was carried out by Millward Brown, a market research firm based in New York City, using data from over 650,000 consumers and professionals across the world to compare over 23,000 brands.
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Following the emissions scandal that broke out last year, Volkswagen lost more than half of its brand value (causing Audi to lose a significant 6% as well) and dropped clean out of the list. That allowed Land Rover to gain a spot despite losing a chunk of value itself and invited Porsche to climb up to the 9th spot.
Finally, Tesla knocked Lexus aside to take the final spot in the top 10, emphasizing the ongoing trend toward cars that are more efficient and environmentally-friendly, which is likely already one of the reasons Toyota continues to lead the industry.
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BrandZ reported record sales in the United States, improvements in Europe, and slow expansion in China, as well as a shift in purchasing preferences to larger cars—such as SUVs and, in the US, full-size pickup trucks—driven in part by the plummet in global oil prices.
It also noted that manufacturers made increasing investments in mobility research and services in 2015 (like GM’s Maven or FordPass) suggesting they are “anticipating a future beyond car sales.” Given the rise of car sharing programs and the imminence of self-driving cars, it should come as no surprise.
Source: BrandZ Top 100 Most Valuable Global Brands 2016 report (.pdf)
Dawn Carberry is the digital marketing manager and the head blogger for the Haddad Automotive Group, located in the city of Pittsfield in Western MA. The Haddad Auto Group includes Haddad Toyota, Haddad Subaru, Haddad Hyundai, and Haddad Nissan new car dealerships, and Haddad of South County used cars.