Each year, Interbrand, a brand consultancy firm, releases a Best Global Brands Report, ranking companies from all sectors according to their brand value in the market. Automotive companies are also a part of this ranking report.
It released its 2017 Best Global Brands Report recently, with automotive sector scoring the second place in the most
valuable sector list, with a total brand value of $266,827 billion! Also, Automotive brand companies take up 14% of the share of the top 100 companies list.
In the Automotive Sector, Toyota ranked first with the highest brand value amongst all carjacking companies. It ranked 5th in the overall list of top 100 most valuable brand.
Let us have a look at the 2016 and 2017 automotive sector ranking list:
In the list, Toyota retained it’s first place in 2017, though it’s brand value declined by 6% from 2016. It value fell to $50,291 billion in 2017 from $53,580 billion in 2016.
Ferrari is a new entrant in the 2017 list.
Since 2008-2010 recession, automakers are increasing on their brand value by expanding their product range and by sales growth. Every element in the automotive circle, like the manufacturers, suppliers, retailers are going through major fundamental changes.
Apple ranked as the number one brand in the overall list. The top 100 list was dominantly occupied by technological companies with technology companies like Apple, Google, Facebook, Samsung, Microsoft grabbing a place in top 10.
The companies are ranked on the basis of 3 factors that give the brand its cumulative brand value. The factors being: the brand’s influence on customer choice, financial numbers of the goods and services of the brand, the power a brand has to dominate the price of the products.