Interbrand: Toyota Most Valuable Global Automotive Brand
October 10th, 2014 9:00 AM
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Aside from giving away FCVs at environmental media award celebrations, Toyota is Interbrand’s most valuable automotive brand on its Best Global Brands list, moving from No. 10 to No. 8 overall in 2014.
Despite the $1.2 billion fine levied by the U.S. Justice Department for concealing defects linked to unintended acceleration, followed by a recall of 6.4 million units over airbag and seat issues weeks later, the New York-based brand consultancy group says its higher ranking is a result of the following:
- Brand perception: Though considered as a solid brand known for quality over spirit, Toyota’s campaigns as of late are helping to build a more lively image.
- Technological advancement: Vehicles like the Mirai and Prius are just two examples of the automaker’s environmental stewardship — Interbrand ranked Toyota No. 2 in this year’s Best Global Green Brands list — while collaborations with Microsoft and BMW help to drive further developments in engineering and mobility.
- Resource allocation and diversity: Toyota aims to increase the number of women in managerial positions to 320 by 2020, 570 by 2030. The recent relocation of its U.S. headquarters from California to Texas will mean more efficient productivity and greater collaboration between its sales, marketing and manufacturing teams.
Among the rest of the global auto players among the overall list of 100 global brands, Mercedes-Benz represents Europe at No. 10, Ford comes in for the United States at No. 39, and Hyundai raises the flag for South Korea at No. 40.
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I have to give Toyota credit. They have figured out how to meet the needs of many diverse markets. The rich US soccer mom with Lexus GX or the appliance driver who wants a new Corolla every ten years to the Jihadi who wants his Hilux to come with the factory installed 50 Calibre mount in the bed. I have always wondered if the toyota dealers over there have accessory departments like we have here, only instead of a winch, window tint, and a 3 inch lift they offer bullet proofing, bed racks to convert to a military personnel transport, gun racks etc..
That doesn't surprise me. In the age of the internet, the brand reputations that really count, are the ones regarding properties than cannot be easily discerned on a model by model basis. If Toyota wants to sell an exciting car, all they have to do is build one. And wait two weeks. By which time, Top Gear will have informed those concerned, that the XYZTXV400GTIXT is an exciting car and not an appliance, since The Stig can drift it. But if Alfa wants to produce a reliable car, they have to keep funding it for a few decades before the reputation sinks in. Which is why Toyota will always approach the lucrative BMW market by building the most exciting car they can, constrained by the need for it to remain reliable enough to survive a million miles and a few dozen airstrikes. While BMW will continue to build the most reliable car they can, constrained by having to make sure it remains slightly more exciting than the corresponding Toyota. And the two shall never meet all the way in the middle......
And based upon the value of the Interbrand brand, this is entirely meaningless.
It's interesting to me that in Shanghai, Toyota is probably one of the weakest brands. I'm sure Peugeot has better market share. Maserati is probably competitive with Toyota in the Puxi section of Shanghai. Farther west, with all of their taxis in Chongqing I bet Suzuki does better than Toyota, overall, in China. It is an interesting market here.