It almost feels like deja vu, but Mercedes-Benz has been ranked as the world’s most valuable luxury car brand once again by American consultancy firm Interbrand in its annual ‘Best Global Brands’ study. In fact, the headline feels all too familiar as it is the fourth consecutive year Mercedes-Benz took home the title.
The German marque stood its position in eighth place overall, and is the only European company to place in top ten. However, due to the ongoing Covid-19 pandemic, the estimated brand value actually fell by 3% to 49.2 billion US dollars.
The drop in brand value is mirrored almost entirely across the automotive industry, with its closest competitor, BMW, also falling by 4% to USD37b – though its position in the rankings is similarly unchanged at 11th.
It should also be noted that Mercedes-Benz was not the only automotive brand placed in the top ten; the most valuable automotive brand goes to Toyota at seventh position – also unchanged from last year – valued at USD51.6b (-8%).
As for the other luxury carmakers in the rankings, Tesla is the latest addition to the leaderboard, coming in at 40th with an estimated brand value of USD12.8b. Audi dropped two positions to 44th this year with a valuation of USD12.4b (-2%), while Porsche dropped five places to 55th this year, with an estimated brand value of USD11.3b.
Interbrand’s brand valuation methodology takes into account three main factors: “financial performance of the brand’s products or services”, “role of the brand in the purchase decision process”, and “strength of the brand with regard to securing future corporate earnings”. The monetary value of the brand is then determined by an ISO-certified methodology, pioneered by the firm itself.
Mercedes-Benz Director of Brand and Marketing, Rita Felder, commenting on this year’s rankings, said: “During times of great uncertainty, providing orientation and support becomes more important than ever. We feel it is vital to develop an attitude – as individuals, as a society but also as a company.”
Moving forward, the brand says that it will see a renewed focus on luxury in all of its products, as laid out during its investors and analysts conference. As for “attitude”, the brand is charging forward with its ‘Ambition 2039’ sustainability plan, where the company aims to be completely carbon-neutral in its new car fleet by 2039.
The full leaderboard can be found on Interbrand’s website here, and if you’re interested in the company’s plans to continue building its brand value, Rita Felder’s full interview can be found here.