While 2020 has been far from the ideal start to the new decade, some companies have weathered the storm quite well. A new report from Interbrand called ‘The Decade of Possibility’ has found that Toyota is the best automotive brand on the global scale.
The report uses three key points in its valuation methodology:
Toyota topped the list with a valuation of US$51.6 billion (NZ$77.4b). Not far behind was Mercedes-Benz, rated at US$49.3 billion (NZ$73.9b), followed by BMW on the third spot in the automotive sector with a valuation of US$39.8 billion (NZ$59.6b).
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* Toyota is the most valuable car brand
Further down the chart, Tesla entered the list at 40th overall with a valuation of US$12.8 billion (NZ$19.1b). It last appeared in the Best Global Brands table in 2017. The American electric brand has also just posted its fifth-straight profitable quarter.
Overall, Toyota came in seventh and Mercedes-Benz eighth. That’s compared to all brands, the top ten spots dominated by tech. Apple was first (US$322.999 billion, or NZ$484.8b), Amazon was second (US$200.667b, or NZ$301.2b) and Microsoft took third (US$166b, or NZ$248.9b).
Microsoft’s gains pushed Google out of the top three for the first time since 2012, falling just short of Microsoft with a valuation of US$165.444b (NZ$248.3b).
Social media and communications generally rose in value this year, while retail brands like Zara and H&M took a hit.
Interestingly, the overall value of the table grew 9 per cent from 2019 to $US2.3 trillion (NZ$3.4t). From the report: “Driving growth of the table is big tech. Average brand value growth among all growing brands was 14 per cent. Average growth of technology and tech platform brands was 20 per cent.
“Technology and tech platform brands now represent 48 per cent of total table value versus only 17 per cent in 2010. The top 3 brands in the table (all tech) represent 30 per cent of the value of the entire table versus only 16 per cent in 2010.”