Interbrand, a global consulting firm, annually releases the Best Global Brands (BGB) list. For those unaware, this list ranks the value of a brand based on financial performance, the scope of the said brand’s influence of purchases, its competitiveness, and many other factors.
Toyota released several exciting models this year, including the GR Yaris. This contributed to its brand value growth
For the 2021 BGB list, Toyota emerged as the highest-ranked automaker with a brand value of $54.1 billion (around Php 2.7 trillion). Based on the overall ranking, Toyota sits at the seventh spot behind brands such as Coca-Cola, Samsung, and Google.
Mercedes-Benz finished one spot behind Toyota with a brand value of $50.8 billion (around Php 2.5 trillion). The third highest-ranking car company is clinched by BMW with $41.6 billion (around Php 2.1 trillion).
Here are the top ten car brands that made it into the 2021 Best Global Brands list:
| Brand | Rank in the top 100 BGB list |
|
7 |
|
8 |
|
12 |
|
14 |
|
25 |
|
35 |
|
46 |
|
47 |
|
52 |
|
58 |
For those curious, the number one spot in the 2021 BGB is Apple, the American tech giant. It is then followed by Amazon, Microsoft, Google, and then Samsung.
Curiously enough, the whole value of the entire table has increased by 15 percent compared to its value from 2020. This is despite the COVID-19 pandemic, which brought about a string of lockdowns and plant closures for many companies around the globe. For that matter, this is also the largest growth rate in brand value in 22 years.
Tesla is the fastest growing automaker in terms of brand value but it did not make it into the top 10 global brands
According to Interbrand, the brands that showed growth in this year's BGB had shown a clear direction as a company. They are also fast in releasing new products and services that can meet the ever-changing needs and wants of consumers.
Tesla is the fastest growing car brand, as well as the fastest-growing brand overall with a massive 184 percent growth for this year alone. Toyota in comparison has grown in brand value by 5 percent, while Mercedes-Benz is up by 3 percent.
For more insights into the automotive industry, keep it here on Philkotse.