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Toyota Remains World’s Most Valuable Automotive Brand

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2016 Toyota Corolla

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.

Toyota was ranked 28th in the global rankings, behind leading technology giants like Google and AT&T, up from 30th in last year’s report.

World Best-Seller: The 2016 Toyota Corolla

Top 10 Most Valuable Car Brands 2016

The top seven automakers were unchanged compared to 2015, with BMW, Mercedes-Benz, Honda, Ford, Nissan, and Audi all trailing Toyota, in that order.

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.

Efficient Driving: Why you should buy the 2016 Toyota Camry Hybrid

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)