WPP and Kantar Millward Brown have released their annual BrandZ Report, which examines the most valuable global brands by using brand perception and financial data to calculate a brand’s value.
According to this year’s analysis, Toyota is the most valuable automotive brand with a value of $28.6 billion. The company continued to hold onto the top spot, but its value declined three percent from last year thanks to “tough currency challenges as well as increased investment and rising labor costs.”
The second and three place finishers were also carryovers from last year, as BMW was second with a valuation of $24.5 billion and Mercedes came in third at $23.5 billion. The difference between the two companies narrowed this year as BMW dropped eight percent, while Mercedes climbed four percent. If that trend continues, Mercedes could find itself besting its German rival next year.
Tesla made the biggest jump in this year’s analysis as the brand’s value rocketed 32 percent to 8th place with a $5.8 billion valuation. The company was most likely helped by the massive anticipation that surrounds the Model 3.
The other movers and shakers include Land Rover and Porsche with values climbing by 17 percent and 16 percent, respectively. Land Rover claimed the 9th spot with a valuation of $5.5 billion while Porsche was one rung below at $5.1 billion