Toyota has reclaimed the top spot for car makers in the annual survey of global brands.
Toyota has been named the most valuable automotive brand in the BrandZ Top 100 Most Valuable Global Brands 2013 report.
The survey ranked brands using financial data and the views of current and potential customers. Toyota was valued at $24.5 billion dollars (£16.2 billion), an increase of 12 per cent on 2012.
The rise in value was big enough for the Japanese car giant to overtake BMW as the most valuable motoring brand. It’s the sixth time in the eight years of the BrandZ report that Toyota has been ranked at the top of the automotive sector.
According to the report, Toyota’s championing of hybrid technology was one reason for the brand’s high value. Toyota’s strong global sales performance (sales up 22.6% worldwide in 2012) also contributed to the company’s first place performance, when many other car makers have struggled with sales below pre-recession levels.
Last year’s top motoring brand, BMW, was ranked just behind Toyota, valued at $24 billion. Mercedes-Benz was named the third most valuable motoring brand, ahead of Honda, Nissan and Volkswagen.