Mercedes-Benz is once again crowned the “Most Valuable Luxury Car Brand”, after placing eighth in the “Best Global Brands 2019” ranking by US-based consultancy firm Interbrand.
The brand value of the three-pointed star increased by 5% from last year to 50.8 billion US Dollars, remaining as the only European brand in the top 10.
While its closest competitor – BMW took home 11th place in the ranking, Mercedes-Benz is not the only automotive brand ranked in the top 10; Toyota came in at 7th with a brand value of 56.2 billion US Dollars.
Other luxury car brands in the ranking include Audi at the 42nd spot with a brand value of $12.6 bn, while Porsche rounds up the top-50 Best Global Brands with $11.7 bn.
According to Interbrand, the brands are surveyed according to three aspects: “financial performance of the brand’s products or services”, “role of the brand in the buying decision process” and “strength of the brand with a view to safeguarding the future revenue of the company”. The monetary value of the brand is determined via an ISO-certified methodology.
In an interview with the American consultancy firm, Mercedes-Benz’s Director of Brand and Marketing Strategy, Bernd Stegmann highlighted the importance of creating a social purpose beyond the company’s business purpose.
Stegmann said that the alignment of the brand to the society at large can cultivate confidence in their customers, and in turn create a smooth path for the brand’s growth into the future.
The German automotive group has also been realigning their entire operation to the CASE (connectivity, autonomous driving, shared/services, electromobility) era, which the brand sees as their biggest opportunity in the near future.