BMW takes the top spot from Japanese carmaker Toyota Motors as the most valuable car brand according to a yearly ranking report of the top 100 brands.
Based on the survey Brandz Top 100 of Millward Brown, other car manufacturers like Volkswagen and Ford Motor Co. improved the values of their respective brands.
According to analysts, Toyota might bounce back after it survives the massive recall of some of their vehicles before the closing of 2009. Sales figures in the past few months show the negative effect of the recalls and Toyota has been pouring all of its efforts to recover through different media communication campaigns. Numbers point out to the recovery of a strong brand after a major crisis.
The value of the BMW brand dropped 9% compared to its status in 2009 and is now valued at more than $21.8 billion. Toyota on the other hand suffered a 27% decline and is just now under $21.8 billon.
Ford and Volkswagen improve their values
The story on Ford’s improvement can be attributed to its pouring of funds for technological innovations like voice control systems, emission control, and the brands wise social media use. Ford is up by 19% to about $7 billion.
Volkswagen’s value jumped by 20% and is just under $7 billion at present. Audi also improved by 2% to about $3.6 billion.
Experts point out to these brands having a good trust rating with the public, good distribution globally, and competitive prices against marques like Mercedes and BMW.
Honda is at number 3 with a brand value of $14.3 billion.
Porsche, Mercedes suffer
Due to the financial crisis, luxury carmakers experienced drop in their brand values.
The world’s number 4, Mercedes-Benz, dropped by as much as 11 percent and is now about $13.7 billion. Porsche had a sorry loss of 31% to be at $12 billion.
Source: Automotive News
Tags: bmw vs toyota , Toyota vs BMW , bmw vs lexus , luxury car brands ranking , top 100 car brand in the world