Tesla Enters, Toyota Tops List Of Best Global Car Brands This Year
23 October 2020 - motor1
Tech companies dominate the list outside the automotive business.
2020 has been tough and rough so far for basically everyone. There are no signs of a quick recovery on the horizon for practically all businesses. Still, the world hasn't stopped spinning and everyone is trying to adapt to the new norm and find its place under the sun.
In business language, this means there are some shifts up and down in the automotive sector in terms of overall valuations. Simply put, some are navigating a rapidly changing business landscape better than the rest.
Interbrand's 21st annual report called The Decade of Possibility analyses companies in many different sectors of the business but we are most interested in what's happening with the automotive brands. The research uses three key points in its valuation methodology:
- The financial performance of the branded products or services
- The role the brand plays in purchase decisions
- The brand's competitive strength and its ability to create loyalty and, therefore, sustainable demand and profit into the future
The results of the research show Toyota once again qualifies as the highest-ranked automotive brand in Interbrand's Top 100 brands list. Among all brands from all businesses, the Japanese automaker holds the seventh position with a valuation of $51,595 million. Right below Toyota is Mercedes-Benz with a valuation of $49,268 million, followed by BMW on the third spot in the automotive sector with a valuation of $39,756 million.
Taking a look further down the list, it's worth noting that Tesla is re-entering the chart at the 40th overall position, having last appeared in the Best Global Brands table in 2017. It's market valuation, according to Interbrand, is $12,758 million.
Outside the automotive business, tech brands are totally dominating the chart with a top three of Apple (#1), Amazon (#2), and Microsoft (#3). Social media and communication companies have also seen success during the global pandemic.
Check out the full analysis here.