BMW knocks Toyota out of top spot in brand value survey
BMW has ousted Toyota as the world's most valuable car brand, finds Millward Brown's BrandZ Top 100 survey. Toyot's recent rash of safety recalls - which have involved more than 8.5 million vehicles worldwide -- helped BMW sneak past for the number one spot.
Toyot's brand value slipped 27 percent in the survey, but still registered a strong $21.77 billion. "It is likely that Toyota's brand has suffered further in recent months, but it is a strong brand and is trying hard to overcome the damage through a major communications campaign," Peter Walshe, Millward Brown global brand director, told Automotive News. "All of our evidence shows that strong brands are much more likely to recover from a crisis."
BMW's brand value actually slipped 9 percent, but managed to just beat out Toyota at $21.82 billion. Honda nabbed the third spot with a value of $14.3 billion.
BMW-rival Mercedes-Benz occupied the number four position on the list with a brand value of $13.74 billion, but that figure is down 11 percent from the year prior. Porsche saw an even bigger drop off, falling 31 percent to $12.02 billion - good enough for the fifth overall spot.
Volkswagen saw the highest jump of any automaker in brand value, climbing 20 percent to $6.99 billion. Ford wasn't far behind, posting a 19 percent increase to $7.04 billion.
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