How is this worth more than this?
Natural disasters and unpopular major recalls haven’t stopped Toyota leaping ahead of BMW
TOYOTA has kickedBMW off the top of the world’s most valuable brands list— despite a year of damaging safety recalls.
The Japanese company’s brand value jumped 11 percentage points in the past year to $22.4 billion, according to research agency Millward Brown.
The fuel-efficient and lowcarbon Prius was cited by the agency as being largely responsible for the brand’s image boost, even though 400,000, including 2378 in Australia, were recalled for brake faults.
Millward Brown’s annual BrandZ survey ranks companies based on customer perceptions from interviews with more than a million consumers. These are tallied along with the companies’ financial and business data.
Toyota ranked 27th overall on the list of the world’s most valuable companies, with top spot going to Apple, followed by Google, IBM, McDonald’s and Microsoft. Only six car makers made the BrandZ top 100 list. BMWwas second on the automotive list, with its brand up 3 per cent to $20.7 billion. The big movers were Mercedes, now third, up 12 per cent to $14.2 billion, and Nissan in sixth, up 17 per cent to $9.3 billion.
Millward Brown boss Peter Walshe says Nissan’s leap largely results from the launch of the 2011 Leaf EV (electric vehicle).
The Leaf EV won the World Car of the Year award.
‘‘ Nissan is positioning itself as a green leader and its stance is paying off,’’ he says.
The Leaf is available in Japan, the US and Europe and will be released in Australia next year.