Mercedes-Benz for the first time in the history of BrandZ Top 100 Most Valuable Global Brands study has topped BMW for the No. 2 most valuable automotive brand. Toyota remains as the world’s most valuable car brand for the sixth consecutive year.
The three-pointed star had also topped its Bavarian rival in global vehicle sales in 2016 and 2017. Its brand value increased by 9% to US$25.7 billion while BMW grew 4% to US$25.6 billion. Mercedes-Benz attributed its growth to strong performance in China, Brazil and Russia.
Global BrandZ director at Kantar Millward Brown, Peter Walshe, told Automotive News Europe that BMW’s slow growth was due to its small decline in U.S. sales but remains an “extremely well-performing brand”.
Toyota’s brand value grew by 5% to US$29.9 billion thanks to the strong demand for its SUVs in Europe and the United States. The Japanese carmaker’s famed consistency and reliability also contributed to the brand’s positive growth.
Other notable mentions include Volkswagen which has re-entered the rankings at No. 10 with a brand value of almost US$6 billion, up from US$5.1 billion in 2017. The German carmaker dropped out of the ranking in 2016 and 2017 amidst of the Dieselgate scandal which cost VW billions in fines.
“VW maintained its strength in terms of its brand recommendation and brand trust. Those haven’t been dented. Although customers hear about these negative things, it doesn’t stop them from buying and VW’s sales have shown this,” Walshe said.