Toyota defended its title as the world’s most valuable car brand in a new ranking, holding off BMW and Mercedes-Benz. Tesla, meanwhile, made the biggest improvement, rising two spots to No. 8 because of a 32 percent increase in its brand value. Toyota’s brand value decreased 3 percent to $28.7 billion as increased sales were offset by tough currency challenges as well as increased investment and rising labor costs.
Toyota is seen as a reliable, quality value brand. Even when it was going through its recall problems, the users were saying, ‘What’s all the fuss about, my car is fine.’ Toyota has delivered great value for years. BMW remained in second place despite its brand value decreasing 8 percent to $24.6 billion. The decrease was partially due to rising investment costs for new technologies and a sales slowdown in the U.S. Read more