Toyota the most valuable automotive brand in 2023, Mercedes second

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TOYOTA has clinched the title of the most valuable automotive brand in the world for 2023, for the second consecutive year. This was announced in a report by Interbrand’s Best Global Brands 2023.

The Japanese manufacturer secured the sixth position out of the overall 100 global brands. Only three automotive brands made it to the top 10, with Mercedes-Benz and BMW being the other two.

Outside the top 10 positions, other automotive brands listed include Tesla, Honda, Hyundai, Audi, Porsche, Volkswagen, Ford, Nissan, Ferrari, and Kia. Overall, 13 automotive brands made it to the list in 2023, down from 15 brands in 2022.

According to Interbrand, each brand is evaluated based on three main factors: the financial performance of their products or services, their role in purchase decisions, and the strength of the brand in fostering customer loyalty.

With a brand value of USD 64.5 billion (RM 301.4 billion), Toyota maintains its position at the top of the automotive segment. Following closely is Mercedes-Benz with a value of USD 61.4 billion (equivalent to RM 286.92 billion).

Meanwhile, BMW’s brand value of USD 51.2 billion (RM 239.26 billion) is sufficient to place it in third position, surpassing Tesla, which has a value of USD 49.9 billion (RM 233.18 billion).

Honda maintains its fifth position, followed by Hyundai and Audi. Porsche, another German brand, has improved its brand value, surpassing Volkswagen and Ford to claim the eighth position.

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