Mercedes-Benz retains most valuable crown
Mercedes-Benz is the world's most valuable automotive brand, according to an annual report estimating the worth of marques.
The Automotive Industry report, published by independent consultancy Brand Finance, found the German company’s value had increased 8 per cent to US$65 billion (NZ$102.4b) in 2020.
This kept it well ahead of its rivals and gave the marque the title of "most valuable brand" for the third consecutive year.
Brand Finance says Mercedes-Benz’s investment in electric and autonomous cars and exploration of new business models, as well as its customer service record, are reasons for its high valuation.
“Mercedes-Benz has stayed one step ahead of its competitors because of its commitment to service and model development," says Alex Haig, director of Brand Finance. “Despite his departure, Dieter Zetsche has set the brand up for long-term success.”
Toyota retains second place in the rankings – helped by stronger growth in Asia – after an 11 per cent rise in value from 2019 to US$58.1b.
Volkswagen completed an unchanged top three after its value climbed 7.6 per cent to US$44.9b.
Tesla value soars
The report hails Tesla as the fastest-growing brand, with the opening of its Shanghai Gigafactory in 2019 helping boost its value 65 per cent to US$12.4b.
Another big climber is Jeep, with year-on-year growth of 62 per cent as it tries to “broaden the brand into different segments and expand plug-in hybrid and electric options for the brand’s customers”.
Meanwhile, some of the world's top luxury brands suffered the biggest drops in value, according to the report. Bentley is down 24 per cent, Maserati fell 44 per cent and Aston Martin dropped 50 per cent in value.
Audi fell from seventh to ninth on the list, the only marque inside the top 10 to drop down the pecking order, following a decline in value of 13.6 per cent. Nissan rose to eighth place despite its value falling 4.5 per cent and Ford was one spot higher after a 1.4 per cent decrease in value from 2019.
Overall, brands that are exploring electric vehicle (EV) technology are the ones who retained or grew their value over the past year when compared to competitors.
"The growth of electric vehicles is probably the most important trend in this year’s ranking with electric-only brands recording some of the fastest growth and almost all the major marques launching electric ranges,” the report says.
NIO – China’s domestic answer to Tesla – features in the ranking for the first time claiming 64th position, with a brand value of US$1.1b.
The London-based Brand Finance measures brand value by assessing the “net economic benefit that a brand owner would achieve by licensing the brand in the open market”.
Top 10 most valuable car brands
Value in US dollars, according to Brand Finance
1. Mercedes-Benz – $65.04b
2. Toyota – $58.07b
3. Volkswagen – $44.89b
4. BMW – $40.48b
5. Porsche – $33.91b
6. Honda – $33.10b
7. Ford – $18.51b
8. Nissan – $17.92b
9. Audi – $16.97b
10. Volvo – $16.91b
