Toyota Ranks First in Brand Value, Volkswagen Plummets
When it comes to brands that resonate with buyers, no other automaker tops Toyota, according to a recent study.
In its annual ranking, BrandZ Top 100 Most Valuable Global Brands shows the Japanese automaker rising two spots to place 28th out of all companies in 2015. Second and third-place automakers BMW and Mercedes-Benz both gained ground in the rankings.
Two million consumers were polled by researchers at Millward Brown to achieve the rankings.
Due to the damage to its reputation caused by the diesel emissions scandal, Volkswagen no longer ranks among the top 10 automakers. Corporate cousin Audi slipped six spots in the overall rankings, putting it in the number seven spot among automakers.
Proving that consumers believe in the ambition and vision of Tesla CEO Elon Musk, the electric carmaker appeared in the top 10 for the first time, ranking number 10. Tesla was propelled up the list due to its interaction with customers and the company’s level of innovative technology.
Millward Brown recently praised Tesla for taking “a revolutionary approach to a moribund product category.”
Rounding out the top 10 list was Honda (4th), Ford (5th), Nissan (6th), Land Rover (8th) and Porsche (9th).