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Toyota has once again topped the list as the world's most valuable car brand, according to the annual BrandZ Top 100 Most Valuable Global Brands.
The report estimates Toyota's value to be $29.98-billion, an increase of 5% compared to the year before. It is also the 11th time (out of a total 13) that Toyota came out on top.
According to Peter Walshe, Global BrandZ director, Toyota has been enjoying a strong demand for its SUVs in markets such as the United States and Europe. In South Africa Toyota has maintained sales market leadership for 38 consecutive years.
Mercedes-Benz ($25.68-billion, +9%) grabbed second place followed by BMW, ($25.62-billion, 4%) and Ford ($12.7-billion,-2%) in third and fourth place respectively. We've included an infographic at the end of this article.
Check out the list below:
After no increase in value a year ago, the car category rose 7%, on the strength of SUV sales and luxury brands.
BrandZ said: "Sales increased in most regions of the industrialized world but at a slower rate, even in China. Safer, and more technologically advanced than ever, cars required less frequent replacement.
"Changing attitudes about ownership and more mobility options, especially in urban areas, also affected purchasing."
Despite expressed consumer concerns about climate change, SUV's of all sizes drove sales across most markets, primarily because these models make drivers feel safe and powerful.
