Toyota ranked ‘Most Valuable Brand’ again
New research by leading brand valuation and marketing consultancy, BrandZ, has ranked Toyota as the most valuable automotive brand
MUSCAT: For the eighth time in the history of the study, Toyota zoomed to the top spot in the automotive world in terms of total brand value at $28.9 billion.
New research by leading brand valuation and marketing consultancy brand has ranked Toyota as the most valuable automotive brand. “Toyota remains the most appreciated automotive brand by consumers. This is the eight instance of this fact coming to the fore,” remarked an enthusiast.
BrandZ Top 100 Most Valuable Global Brands 2015 is the only study to combine measures of brand equity based on interviews with over two million consumers globally about thousands of global ‘consumer facing’ brands. According to BrandZ, consumer perception of a brand is a key input in determining brand value because brands are a combination of business performance, product delivery, clarity of positioning and lead- ership, says a press release.
Although automotive sales improved in some regions, they remained below pre-recession levels in others, adversely impacting overall brand values. In contrast, global sales for Toyota Motor Corporation in 2014 increased by 2.5% to 10.2 million units which positively contributed towards the company’s brand valuation in this year’s report.
According to the report, modern societal trends challenge the industry growth, across car makers product quality has improved significantly, however it is getting increasingly difficult to differentiate on the market.
Millennials are less interested in car ownership, connected car technology along with online car sales are called in the report to be the “colliding trends” that complicate brand building efforts.
2014 was the year Toyota launched the world’s first commercial hydrogen fuelled sedan Toyota Mirai, which is already available in Japan, and will come to Europe and US in the second half of this year. Toyota also pioneered the world’s first mass produced full hybrid vehicle in 1997 – Toyota Prius. The BrandZ Top 100 Most Valuable Global Brands report, commissioned by WPP and conducted by Millward Brown Optimor, surveys some two million consumers in over 30 Countries.
In Oman, Toyota is a household name, a part of people’s lives. On the one hand, Toyota offers enduring quality. On the other, nothing comes close to it in terms of valueretention. It is no surprise; therefore, that Toyota soars far above the rest.