Toyota Is the Most Valuable Car Brand But Car Brands Are Generally Not “Loved”
Market researcher Kantar Millward Brown has released this year’s BrandZ Top 100 Most Valuable Global Brands, and Toyota has been revealed as the most valuable automotive brand on the list, with Mercedes and BMW rounding up the top three.
The ranking of these brands was arrived at based on factors such as profitability, shareholder enthusiasm, and consumer’s attitude towards the brand, ie. how much they “love” the brand.
So, it turns out that Toyota owners around the world are the ones who love their cars more than most. Toyota scores the highest in the “love” index in seven countries, including the USA. Of course, this varies in different regions. In India, for instance, they love their homegrown brand of Maruti-Suzuki.
That said, Toyota is actually not that high on the list, placing 41st, while Mercedes is at 54th and BMW at 55th. No other car brand made it into the Top 100. Instead, it is tech companies that dominate the list, such as the likes of Amazon, which is at the top with a value of US$315.5 billion, followed by Apple and Google rounding up the top three.
Car brands in total have decreased by 7% this year compared to 2018, amounting to just US$139.7 billion. Compare that to automotive service provider Uber, which showed a 51% increase, and is by itself valued at US$24.2 billion. Even newer ride-hailing brands like China’s Didi is valued at US$20 billion.
Perhaps this is why long-time automotive brands are partnering up with tech companies and mobility service providers nowadays. But will they succeed in keeping the affections of the consumer or is our “love” affair with the car coming to an end?