Written by Daniel Andzhurov – March 16, 2021
Reviewed by Asaf Kedem
Toyota is currently the most expensive car brand in the world. With a slight increase of 2.4% to the brand's value of $59.4 billion, the Japanese overtook Mercedes-Benz (value: $58.2 billion, decreasing 10.5%) and are now at the top. This conclusion is reached in the current report Brand Finance Auto 100, which analyzes the value of the top 100 car brands worldwide.
According to the report, Germany is the number one car country: Volkswagen, BMW, and Porsche are in third, fourth and fifth places. With the 10th position of Audi, as many as five German brands are in the top ten—they account for about a third of the total value of all brands. Among countries, Japan ranks second in the ranking, with its 14 brands representing 24% of the total value of brands. In third place is the United States with 18 brands, which account for 17% of the total value of brands.
Green technologies pay off.
The fastest-growing brand is clearly Tesla: with a dizzying increase of 157.6%, Elon Musk's company ranks sixth in the rankings. According to the report, this increase is a clear indication that the commitment to the future—in this case, electric mobility—has a positive effect on the value of a brand.
Apart from Tesla, Honda, Nissan, and Toyota also managed to achieve good results due to their electrified (fully or partially) cars. In this respect, the German Audi, VW, and Mercedes have to catch up. Almost all carmakers in the top ten most expensive car brands have proven resilient to crises—despite the pandemic's declining marketing investment. Only Mercedes-Benz lost about 11% of the value of its brand. On the one hand, this is due to declining sales because of the Corona crisis. On the other hand, according to Brand Finance, the cult German brand also struggled with "formulating a consistent strategy for electric mobility and conveying a clear vision for its electric car models, which ultimately led to it lagging behind Toyota in the rankings."
Auto Trendy’s take:
Clean technologies can give hope to the automotive business by already showing great results at such early stages. Statistics like these are always interesting for us, but also for the automakers. Analyzing the results of one year’s activities can be a very good way of formulating manufacturers’ strategies for the coming year. We, at Auto Trendy, keep our eyes open on this rapidly changing and unpredictable industry. You, our readers, are going to be the first ones informed!