BMW replaces the Japanese automaker Toyota as the world’s most valuable car brand. The annual ranking is conducted by Millward Brown as part of the BrandZ Top 100 Most Valuable Global Brands study.
Same report says Mercedes-Benz, Volkswagen and Audi have improved their brand value as well.
Peter Walshe, Millward Brown global brand director, said that BMW has been able to effectively communicate what sets it apart from other carmakers, while still delivering “a very decent product.”
“As one of the great brands in the world, BMW has been absolutely consistent in the long-term regarding what is meaningfully different about their brand, in highly competitive market places,” Walshe said.
Last time BMW was awarded the number 1 spot was in 2010, while Toyota held the top spot for three years between 2006 and 2009. The Japanese automaker came back once again in 2011 to take the reign.
The German automakers improved their position due to their increasing position in the Asian market, more specifically China. The Japanese automakers have been affected by earthquakes, tsunami and other disasters.
“Toyota is certainly seen as a good value, very reliable and very trustworthy, which are all tremendous qualities, especially for mid-range buyers,” Walshe said. “The problem with Toyota has to do with its financials, not brand, due to the disasters, which were clearly out of its control.”
Hyundai’s brand recognition continues to increase and it’s the first Korean automaker to enter the top 10.
Overall, the 2012 Top 100 ranking is led by Apple, which has a brand value of $182.9 billion and ranks first for the second year in a row. IBM, with a brand value of $116.0 billion, took the No. 2 from Google, which now ranks third and is valued at $107.9 billion.
1. BMW $24.6 — (23) 10
2. Toyota $21.8 — (28) -10
3. Mercedes $16.1 — (46) 5
4. Honda $12.7 — (65) -11
5. Nissan $9.9 — (81) -2
6. VW $8.5 — (95) 15
7. Ford $7.0 — * -5
8. Audi $4.7 — 23
9. Hyundai $3.6 — –
10. Lexus $3.4 — -7
* Did not qualify for the top 100