Helgi Halldórsson
The research firm reports that it currently reaches $575.4 billion.
Japan's Toyota maintained its top position in the industry for the second consecutive year, even with a 3% decrease in brand value (to $62.7 billion). Mercedes-Benz held onto its second position (-12%, to $46.6 billion). At the same time, two additional German brands enhanced their standings: BMW moved up to third from last year's fourth position (+3%, reaching $43.8 billion), while Volkswagen climbed to fourth from sixth (+14%, totaling $35.8 billion).
Porsche maintained fifth position in the ranking (-15%, at $35.2 billion), whereas Tesla dropped from third to sixth (-36%, at $27.6 billion) because of reputation problems, such as extensive recalls, and heightened competition in the electric vehicle market.
The other companies in the top 10 stayed the same. Honda ranks seventh (-3%, at $27.5 billion), Hyundai is eighth (-6%, at $24.8 billion), Ford Motor holds ninth (-5%, at $21.8 billion), and Audi is in tenth (+5.4%, at $17.8 billion). Chinese brand BYD climbed from twelfth to eleventh place (+23%, reaching $17.3 billion), surpassing Italian Ferrari.
The rapidly expanding brand was China's Zhejiang Leapmotor Technology (+67%, reaching $1 billion), advancing to 74th position from 96th the previous year.
Among American brands, only electric vehicle producers Rivian (+20%, reaching $688 million) and Lucid Motors (+41%, totaling $613 million) experienced value growth. The former climbed to 84th from 98th position, while Lucid Motors secured 89th place (it was absent from the ranking the previous year).
source: brandfinance.com
Japan's Toyota maintained its top position in the industry for the second consecutive year, even with a 3% decrease in brand value (to $62.7 billion). Mercedes-Benz held onto its second position (-12%, to $46.6 billion). At the same time, two additional German brands enhanced their standings: BMW moved up to third from last year's fourth position (+3%, reaching $43.8 billion), while Volkswagen climbed to fourth from sixth (+14%, totaling $35.8 billion).
Porsche maintained fifth position in the ranking (-15%, at $35.2 billion), whereas Tesla dropped from third to sixth (-36%, at $27.6 billion) because of reputation problems, such as extensive recalls, and heightened competition in the electric vehicle market.
The other companies in the top 10 stayed the same. Honda ranks seventh (-3%, at $27.5 billion), Hyundai is eighth (-6%, at $24.8 billion), Ford Motor holds ninth (-5%, at $21.8 billion), and Audi is in tenth (+5.4%, at $17.8 billion). Chinese brand BYD climbed from twelfth to eleventh place (+23%, reaching $17.3 billion), surpassing Italian Ferrari.
The rapidly expanding brand was China's Zhejiang Leapmotor Technology (+67%, reaching $1 billion), advancing to 74th position from 96th the previous year.
Among American brands, only electric vehicle producers Rivian (+20%, reaching $688 million) and Lucid Motors (+41%, totaling $613 million) experienced value growth. The former climbed to 84th from 98th position, while Lucid Motors secured 89th place (it was absent from the ranking the previous year).
source: brandfinance.com