According to Interbrand’s Best Global Brands 2023 survey, Toyota is once again the most valuable automotive brand in the world. Out of 100 brands, the Japanese automaker came in 6th place overall. Only three automakers made it into the top ten, the other two being Mercedes-Benz and BMW.
Other automakers in the list who aren’t in the top 10 are Tesla, Honda, Hyundai, Audi, Porsche, Volkswagen, Ford, Nissan, Ferrari, and Kia. Only 13 automotive brands were included in the Best Global Brands 2023 report, down from 15 in 2022.
As per Interbrand, the process of ascertaining a brand’s worth relies on three fundamental evaluations: the monetary outcomes of its products or services, the influence the brand has on consumer choices, and the brand’s capacity to generate loyalty and maintain competitiveness, which guarantees long-term demand and earnings.
Interbrand Best Global Brands 2023
Toyota maintained its leading position in the automotive industry with a brand value of USD64.5 billion (+8% from 2022) ahead of Mercedes-Benz in second place with USD61.4 billion (+9% from 2022), albeit the latter did move up to seventh place overall from eighth last year.
BMW maintained its third-place ranking among automobile brands with a brand value of USD51.2 billion (+10% from 2022) and improved to tenth overall from 13th in 2022. The German automaker also outpaced Tesla, which continued to rank 12th overall and fell to fourth among automotive brands with a brand worth of USD49.9 billion (+4% from 2022). Honda, ranked 27th overall and in fifth place with USD24.4 billion (up 7% from 2022), is still in the running. Hyundai and Audi, who maintain their positions in sixth and seventh, respectively, come next.
Related: Toyota Retains Top Spot as Most Valuable Japanese Brand
Porsche is another German carmaker that has seen a rise in brand value; at USD16.2 billion, it now ranks ninth, surpassing both VW and Ford. Regarding the final three brands, there was no shift in how valuable their brands were positioned within the automobile industry: Nissan, Ferrari, and Kia. In contrast to the study from the previous year, Land Rover and MINI did not make the shortlist for 2023.
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