Bruce Gain │Automotive News │June 8, 2016 – 12:01 am EST
Toyota retained its title as the world's most valuable car brand in a new ranking, holding off BMW and Mercedes-Benz. Tesla, meanwhile, entered the top 10 for the first time, indicating the rising challenge traditional automakers face from so-called industry disruptors.
Toyota’s brand value rose 2 percent to $29.5 billion, according to the BrandZ Top 100 Most Valuable Global Brands study released today by market researcher Millward Brown.
Toyota gained by continuing its emphasis on improving the customer’s experience and by consistently raising its value benchmark, Peter Walshe, Global BrandZ director at Millward Brown, told Automotive News Europe.
“From the customer’s experience, Toyota is a highly valued brand that continues to innovate,” Walshe said. “That is its strength and why it continues to generate such high volumes.”
Toyota has been No. 1 in nine of the 11 years the study has been carried out.