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Toyota the brand to beat again
Tesla the big improver, but Toyota top car brand for fifth year in a row
7 Jun 2017
TOYOTA has been named the most valuable automotive brand in the Global Top 100 Brands rankings for the fifth consecutive year, but it was electric car manufacturer Tesla that made up the most ground, improving its brand value by an estimated 32 per cent in just one year.
Just six automotive companies made it into the top 100 as calculated by American consultant Millward Brown Brandz, with Toyota coming in at 30th overall – two positions lower than last year – with a brand value of $US28.6 billion ($A37.9b). This is $US0.9b ($A1.2b) or 3.0 per cent lower than last year’s estimate.
BMW ($24.5b) was ranked second among the car brands, at 35th overall, followed by fellow German brand Mercedes-Benz (40) at $23.5b, Ford (83) at $13.0b, Honda (91) at $12.1b and Nissan squeaking in at 100 on $11.3b.
The overall value of the car company brands in the top 100 was said to be a collective $139 billion – the same as last year.
Although Tesla failed to make the top 100, it was ranked eighth among the car companies with a value of $5.9 billion, just behind seventh-ranked Audi at $9.3 billion.
Rated 10th last year with a value of $4.4 billion, Tesla this year leapfrogged Land Rover and Porsche, despite a handy improvement in brand value by these two traditional companies, up 17 and 16 per cent respectively.
BMW and Ford took the biggest hit on brand value over the past 12 months, both down 8.0 per cent on last year.
The overall rankings were led by the usual suspects – Google ($245.5b), Apple ($234.6b) and Microsoft ($143.2b).
Against this background of tech company brand dominance, it is not so strange to see Tesla making such big strides in brand value. After all, it is regarded as much a tech company as a car company.
As well as a soaring brand value, Tesla also has enjoyed a soaring stock price, eclipsing both Ford and General Motors in equity value in recent times.
However, Toyota appears to have decided the Tesla share price is close to peaking, dumping its Tesla stock holding for $1.6 billion in the past few days.
That handy war chest should be enough to bring a formidable Toyota electric car to market.
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