Toyota has strengthened its position as the world’s most valuable automotive brand on the back of a raft of new product, a rising Japanese economy and a rebound in the US car market.
Toyota’s brand value surged by 21 per cent to US$29.6 billion (A$32.1 billion) over the past year compared with average rises of 17 per cent for the auto sector and 12 per cent for the top 100 brands.
It is the seventh time in nine years that Toyota has been crowned automotive brand value leader in the BrandZ™ Top 100 Most Valuable Global Brands report.
Second and third places were taken by luxury German marques while only three other automotive companies were listed in the top 100.
The report referred to innovative technology as one of the major factors shaping buyer preferences.
Glenn Crompton, Vice President for Marketing (Toyota SA Motors), attributes this accolade to a strong product renewal and a focus on injecting excitement into the Toyota brand.
“There’s a new spirit at Toyota – and it’s infectious. Buyers are discovering that they want to drive our products for more than just the quality, reliability and efficiency that is inherent in every single Toyota.
“By placing the emphasis on styling, aesthetics and driving dynamics, Toyota has considerably upped the desirability quotient of these bestsellers… and there’s still much more to come.
“Toyota is the world’s (and SA’s) best-selling brand – now it’s also officially the most loved,” Crompton said.