Toyota has reclaimed top spot as the most valuable automotive brand in the BrandZ Top 100 ‘most valuable global brands’ 2013 report.
Toyota’s brand value rose by 12% to US$24.5 billion (A$24.97 billion) over the past year, one of the biggest movers in the automotive sector.
BMW were pushed into second spot, with its brand value standing at $24 billion. Mercedes-Benz and Hyundai both saw growth in brand value of 11%, while Audi became the fastest growing most valuable brand with 18% growth.
Despite this, the brand values of the top ten car manufacturers remained at 71% of their pre-recession levels.
In the eight years since the BrandZ report was first published in 2006, Toyota has been crowned brand value leader in the automotive sector six times, and second on two separate occasions.
Toyota Motor Corporation’s global sales in 2012 rose 22.6% to 9.75 million units, which contributed positively towards the company’s brand valuation in this year’s report.
BrandZ suggests that brand value developments in the sector were shaped in part by the growth of customer affinity towards hybrid vehicles.
Since Toyota introduced the world’s first mass-produced full hybrid vehicle in 1997 – Toyota Prius – sales of Toyota and Lexus hybrid models have exceeded five million globally.
Lexus retains its 10th position in the list of most valuable automotive brands with a brand value of US$3.5 billion (A$3.6 billion).
The BrandZ Top 100 Most Valuable Global Brands report, commissioned by marketing communications group WPP and conducted by Millward Brown Optimor, surveys two million consumers in more than 30 countries.
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