Photo: Toyota
Car companies may appear focused on their products, but just as you look over the shoulder at the person next to you in the gym to see whether they're fitter than you, they too like to compare themselves to their peers.
And since self-bragging is frown upon, they need independent organizations to do it for them. Market researcher Kantar Millward Brown has made a habit of publishing the BrandZ Top 100 Most Valuable Global Brands every year, and the latest one shows some pretty interesting developments.
Nothing has happened at the top where Toyota managed to retain its crown despite a value decrease of three percent (to $28.7 billion). We've already talked about the company's downturn and how its President, Akio Toyoda, is sensing a crisis is looming. However, despite not going through its best moments, Toyota still came out ahead of BMW and Mercedes-Benz, the two brands trailing the Japanese giant.
The secret is the company's ability to instill that Japanese sense of honor into the way it does business, so people continue to perceive Toyota vehicles as a constant in an otherwise fluctuating market. "Toyota is seen as a reliable, quality value brand," Peter Walshe, Global BrandZ director at Kantar Millward Brown, told Automotive News Europe. "Even when it was going through its recall problems, the users were saying, ‘What’s all the fuss about, my car is fine.’ Toyota has delivered great value for years."
The most spectacular move in the top ten of car brands, however, couldn't come from any other company than Tesla. The EV-maker jumped two positions from the very honorable ten it occupied the year before thanks to a 32 percent increase in its brand value.
“The Tesla story is interesting because it is not just the cars it offers now, it is the promise for the future," Walshe said. “There is a perception that it offers a fantastic brand experience, even among non-owners. The only other brands that I’ve seen have this kind of appeal before they got into mass market were Apple and Facebook."
It's not the first time Tesla is likened to Apple, and it most likely won't be the last either. The two brands that saw Tesla leap over them are Land Rover and Porsche, two names with great tradition in the business and two possible competitors for Musk's company, as they too dwell in the luxury segment.
Nothing has happened at the top where Toyota managed to retain its crown despite a value decrease of three percent (to $28.7 billion). We've already talked about the company's downturn and how its President, Akio Toyoda, is sensing a crisis is looming. However, despite not going through its best moments, Toyota still came out ahead of BMW and Mercedes-Benz, the two brands trailing the Japanese giant.
The secret is the company's ability to instill that Japanese sense of honor into the way it does business, so people continue to perceive Toyota vehicles as a constant in an otherwise fluctuating market. "Toyota is seen as a reliable, quality value brand," Peter Walshe, Global BrandZ director at Kantar Millward Brown, told Automotive News Europe. "Even when it was going through its recall problems, the users were saying, ‘What’s all the fuss about, my car is fine.’ Toyota has delivered great value for years."
The most spectacular move in the top ten of car brands, however, couldn't come from any other company than Tesla. The EV-maker jumped two positions from the very honorable ten it occupied the year before thanks to a 32 percent increase in its brand value.
“The Tesla story is interesting because it is not just the cars it offers now, it is the promise for the future," Walshe said. “There is a perception that it offers a fantastic brand experience, even among non-owners. The only other brands that I’ve seen have this kind of appeal before they got into mass market were Apple and Facebook."
It's not the first time Tesla is likened to Apple, and it most likely won't be the last either. The two brands that saw Tesla leap over them are Land Rover and Porsche, two names with great tradition in the business and two possible competitors for Musk's company, as they too dwell in the luxury segment.
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